More pure "green" insanity from the Obama administration

Businesses must not sink money into high-carbon infrastructure unless they are willing to lose their investments within a few years, the US lead negotiator on climate change has warned.

In the Obama administration’s starkest rebuke yet to industry over global warming, Todd Stern, special envoy for climate change at the state department, said “high-carbon goods and services will become untenable” as the world negotiates a new agreement to cut carbon emissions.

Investors should take note, he warned, that high emissions must be curbed, which would hurt businesses that failed to embark now on a low-carbon path. “How good will the business judgment of companies that make high-carbon choices now look in five, 10, 20 years, when it becomes clear that heavily polluting infrastructure has become deadly and must be phased out before the end of its useful life?”

Energy Secretary Backs Clean-Coal Investments - WSJ.com

WASHINGTON -- Energy Secretary Steven Chu said the U.S. should invest in technology to reduce the carbon produced by burning coal, but he said it will take at least eight years [coincidentally, that turns out to be the number of years until Obama's second term would end] to be sure such systems work.

"It absolutely is worthwhile to invest in carbon capture and storage because we are not in a vacuum," Mr. Chu told reporters Tuesday following an appearance at an Energy Information Administration conference. "Even if the United States or Europe turns its back on coal, India and China will not," he said. Mr. Chu added that "quite frankly I doubt if the United States will turn its back on coal. We are generating over 50% of our electrical energy from coal."
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Mr. Chu said he didn't want to comment on "any specific proposal." He said that the Energy Department was "thinking of investment in" research projects that gasified biomass to separate out the carbon dioxide.

"When you gasify it, you can capture the carbon and sequestrate the carbon -- that actually becomes a net sink of carbon, meaning that as the plant grows, it takes carbon dioxide out of the atmosphere," Mr. Chu said. "I would be very enthusiastic about anything that goes in that direction."