Business Spectator - Catch the sun

The coal industry has been a reluctant investor in CCS, despite the apparent threat to its industry. Jeremy Barlow, the chairman of Queensland coal mining group Bandanna Energy, summed up the thoughts of many in the industry at his AGM on Thursday when he said the pursuit of large scale CO2 sequestration was an “expensive exercise in futility”.

Barlow, a climate change sceptic who doesn’t see why such technology should be pursued in the first place, told shareholders: “The processes of capture, compression, transportation, injection and monitoring will be very expensive even if suitable host reservoirs were readily at hand which they are not. No doubt many research dollars will be spent and maybe there will be some spin-offs, but I predict that the exercise will eventually be seen as a waste of time and money.”

Obama builds a team of CO2-hysterics

Obama forms recovery council with climate-action advocate at helm
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The president-elect said he will appoint an "Economic Recovery Council" to focus on reversing the current economic trends. The council, which he said will be based on the model on the Foreign Intelligence Advisory Board created by President Eisenhower, will be chaired by Paul Volcker, the former Federal Reserve Board chairman who has been outspoken on the need to address climate change.
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Volcker has been vocal about the need to address climate change, and has spoken out against the idea that doing so will hurt the economy. In an address to the American Chamber of Commerce in Egypt last year, Volcker said that if America fails to address climate change, "you can be sure that the economy will go down the drain in the next 30 years."

"What may happen to the dollar, and what may happen to growth in China or whatever pale into insignificance compared with the question of what happens to this planet over the next 30 or 40 years if no action is taken," he continued. "The scientists seem pretty well agreed that [global warming] is still potentially manageable if we act decisively, beginning now into the next decade or so, by taking measures that are technically and economically feasible."