BP pulls out of its one actual carbon sequestration project
Everyone seems to agree that carbon sequestration is going to save us from global warming. That’s why the Scottish government announced it would have a competition, awarding the creation of an actual carbon sequestration facility with a big fat financial reward.
BP spent $50 million just preparing to build such a facility. But then the Scots wanted a little more time to assess it — another year — which led BP to scrap the whole project.
A technology that costs so much money to prepare that a major oil company can’t afford to keep it in development for a year while it awaits its massive taxpayer subsidy — that sounds like a technology I want to pin the future of the human race on!
Show comments