WHAT CHINA WANTS TO STOP ITS SPEW

EU to help China bury carbon in climate fight
Pete Harrison (w/Anthony Barker), June 25, 2009 (Reuters)

"Europe has started moves to help China develop…Carbon Capture and Storage (CCS), a process of burying harmful gases…[CCS] is seen by some as a potential silver bullet to curb coal-fired power plants' emissions, which are multiplying rapidly and threaten to heat the atmosphere to dangerous levels.

"Funding technology could play a key role in securing China's support for a global deal on climate change in Copenhagen this December…"

Here's why China should make a contribution: Because burning coal costs it hundreds of billions of yuan every year. (From a 2008 Greenpeace report - click to enlarge)

"While the technologies exist, utilities are reluctant to build CCS power stations without public funding because of the cost of the extra equipment…The extra cost for a new 400 megawatt power plant would be between 730 million and 980 million euros ($1-1.4 billion), depending on the technology used…

"If China introduces a carbon market to make polluters pay for their greenhouse gas emissions, that would leave a funding gap of between 300 million and 550 million euros to make the new technology competitive…"

Here's why China should make a contribution: Because burning coal costs it hundreds of billions of yuan every year. (From a 2008 Greenpeace report - click to enlarge)

"The EU-China Near Zero Emissions Coal (NZEC) proposal will initially tap into about 50 million euros of existing EU development funding, but will also seek support from industry and taxpayers…on how finance and technology might be collected and delivered…

"Highly polluting coal covers about 70 percent of China's energy needs, and is likely to remain the country's predominant energy source, a Commission document said."