OIL & MINING GIANTS JOIN TO CAPTURE CO2, MAKE H2

A great investment in the future.

BP, mining giant to cut carbon in power plants; Joint venture will produce hydrogen, capture and store most CO2
May 17, 2007 (MSNBC News Services w/AP & Reuters)

WHO
Anglo-Australian mining group Rio Tinto, British oil group BP (Chief Executive Tony Hayward) Hydrogen Energy
According to this chart, the only way to get energy without producing CO2 is with photovoltaics or other renewable energy (click to enlarge)
WHAT
Hydrogen Energy, a BP/Rio Tinto joint venture, will develop plants to create hydrogen from convert coal, petroleum coke and natural gas.

WHEN
Announced May 17.

WHERE
- BP has existing carbon capture and sequestration (CCS) units in Scotland and the US which will become part of Hydrogen Energy.
- Emissions generated by making the hydrogen will be sequestered underground in depleted oil and gas fields, geologic formations or as-yet-to-be-determined locations.

WHY
- Hydrogen, when used as a fuel, is essentially emissions free. (Byproducts are water and oxygen.)
- The hydrogen in this venture will be used to drive turbines that generate electricity.
- Since 40% of greenhouse gas (GHG) emissions are produced in the generation of electricity, and CCS is thought to be politically, technologically and economically viable, these companies are moving in what appears to be a smart business direction.
Another great illustration of this experimental technology (click to enlarge)
QUOTES
Hayward: "Projects such as these have the potential to help deliver the carbon emission reductions which companies and countries around the world are now seeking…This will only be possible if companies work together and work alongside governments."