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!
