US energy secretary to unveil $450 mil carbon sequestration plan

Washington (Platts)--26Oct2006

US Energy Secretary Samuel Bodman is expected Friday to announce that the
agency will spend $450 million over the next 10 years to fund projects
designed to demonstrate technologies capable of capturing and storing carbon
dioxide, a greenhouse gas.

The secretary is expected to announce the program during a panel
discussion on coal liquefaction with Kentucky Republican Representative Geoff
Davis, who is locked in a tight race to retain his congressional seat.

A Department of Energy source said money will be divided among seven
regions across the country and be used to help fund large-scale carbon
sequestration demonstration projects.

The Bush administration and many others, including some environmentalists
see carbon sequestration, or the capture and storage of carbon to prevent it
from escaping into the atmoshphere, as a critical technology if the US is to
use its vast coal supplies without harming the environment or contributing to
global warming.

The $450 million would be subject to annual congressional appropriations
and future presidential administrations would have to support the funding.

--Daniel Whitten, daniel_whitten@platts.com

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