>>>>>Political Potato: Climate Negotiators in Poland Fail to Agree on Clean Coal
Negotiators trying to cobble together a blueprint for the successor to the Kyoto Protocol hoped to make clean coal part of the package. That is, rich countries would have had a financial incentive to develop and install coal-fired plants able to capture their greenhouse-gas emissions in poorer countries. Not now, Bloomberg reports:
United Nations negotiators dropped plans to back the use of devices that capture carbon-dioxide emissions from power plants in developing countries and pump it underground for storage.
Why should that matter? >>>>>>Because coal is still the biggest piece of the world’s electricity pie, and is going to get bigger—not smaller—over the next two decades<<<<< the International Energy Agency says. Any attempt to reduce greenhouse-gas emissions worldwide has to tackle the coal problem. But to make clean coal a reality, the power industry must invest billions of dollars and years of research to overcome all kinds of lingering technological and economic hurdles.
See slide 13 to see the future of coal. BO can not do much about the use of coal during the next two years. And when the carbon tax and credit scheme is finallly in place, coal power plants will simply start adding solar and wind to their grids to acquire carbon credits that offset the carbon debits. In the long run, that's good, and that is why I also own GE stock. As for swithing to Nat Gas, if this happens in any meaningful way, the cost of Nat Gas will go through the roof quickly erasing the economic benefit of the carbon credits. And the far wiser thing for us to do with Nat Gas is to get oil off the roads by switching commercial trucking fleets like UPS, Sysco, Post Office, etc. to vehicles powerd by Nat Gas. And where is all the power for the new Volt type hybrid electrics going to come from??? The answer to this challenge that is best for all Americans and for the world is for us to pull together to develop clean coal technologies which allow us to use a wonderful resource without killing our planet.