Capturing Carbon is Going Global

www.cnbc.com - There’s a global movement gaining strength to capture carbon around the world.

Having engaged in the act of sequestration -- removing, separating or seizing it -- the carbon is then stored.

Carbon dioxide is captured and hidden away for an eternity. It may seem like an elaborate effort to separate the carbon, but this procedure should have many beneficial applications. The Intergovernmental Panel on Climate Change (IPPC) estimates that CO2 emissions must be reduced by50 to 80 percent by 2050 to offset global warming.

The International Energy Agency said that fossil fuels will be part of the energy mix until at least 2030. When applied in and around an oil field, the process of CCS -- as its known-- actually functions to enhance oil recovery, while helping clean the air we breathe. 

“OPEC believes that it is indeed important to protect the environment, while ensuring economic growth and social progress, especially for the poorest,” OPEC Secretary General, Abdalla Salem El Badri said.

 

“As fossil fuels will continue to satisfy the lion’s share of world energy needs, OPEC recognizes the importance of cleaner fossil-fuel technologies, and in particular the technology of carbon capture and storage,” El Badri said.

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