The task force is charged with developing a plan within 180 days on how CCS can be deployed nationwide within 10 years, with a goal of bringing five to 10 commercial demonstration projects online by 2016.

"Our nation's economy will continue to rely on the availability and affordability of domestic coal for decades to meet its energy needs, and these advances are necessary to reduce pollution in the meantime," the White House said in a statement.

The taskforce will be co-chaired by Department of Energy and Environmental Protection Agency officials and will also include representatives from nine other agencies and offices, according to a presidential memo.

The plan it develops should address incentives for CCS adoption and what financial, economic, technological, legal and other barriers exist to its widespread deployment.

The taskforce will report progress "periodically" to the president through the chair of the Council on Environmental Quality, Nancy Sutley.

"President Obama and this administration are strongly committed to the development of carbon capture and storage technology as a key part of the clean energy economy," Energy Secretary Steven Chu said in a statement. "We can and should lead the world in this technology and the jobs it can create."

--Herman Wang, herman_wang@platts.com