Should the Australian Government Promote Carbon Capture and Storage

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Should the Australian Government Promote Carbon Capture and Storage (CCS)?

Introduction
CCS is a technology for storing carbon emissions underground to slow global warming. It is under development, still several years from commercial deployment, and a key question for policy makers and power companies is whether or not it is a cost effective option compared to the other low carbon alternatives. The question is “should the Australian Government be subsidizing and promoting carbon capture and storage?”

Advantages and Challenges of CCS (Carbon Capture and Storage)
How does it Work?

Carbon capture and storage (CCS) is the procedure of sequestering carbon emissions from large emitters, such as power plants, moving it to a storage location, and injecting it where it will not enter the atmosphere, normally in deep underground rocks. The aim is to prevent the release of large quantities of CO2 into the atmosphere (from fossil fuel use in power generation and other industries). It is a potential means of mitigating the contribution of fossil fuel emissions to global warming and ocean acidification. Carbon dioxide has been placed into deep rocks for many years for industrial purposes, including superior oil return. Long term storage of the gas is a relatively recent concept (Csiro 2014).
Storage of the CO2 has been trialed in subterranean geological structures. Geological formations are currently considered the most promising sequestration sites. Australia has large areas suitable for CCS and the government has opened them up for that purpose. Scientists (Global Carbon Capture and Storage Institute. 2014) are now generally confident that once carbon dioxide has been deposited it will not escape into the earth’s atmosphere.
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...4].

CSIRO .Carbon Capture and Storage 2014. Available from< http://www.csiro.au/Outcomes/Energy/Energy-from-coal/Carbon-Capture-Storage.aspx.> [Accessed 10 April 2014].
Lead Author: Emily Rochon Editor: Jo Kuper Contributing Authors: Dr Erika Bjureby, Dr Paul Johnston, Robin Oakley, Dr David Santillo, Nina Schulz, and Dr Gabriela von Goerne. 2013. false-hope-executive-summary. Available from: [01 April 2013].
IEA - Carbon capture and storage (CCS). 2014. IEA - Carbon capture and storage (CCS). Available from [11 April 2014].
Bloomberg BNA, 2012 Carbon Capture, Storage Too Expensive, Commercial Outlook Dim, CBO Says, ., America, accessed 12 April 2014, < http://www.bna.com/carbon-capture-storage-n12884910427/>.

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