The fallout from the recent Intergovernmental Panel on Climate Change (IPCC) ruling that computer model high emissions pathway RCP8.5 is “implausible” is only just beginning. Most mainstream media fearmongering stories over the last 15 years need to be moved into the junk file, as do the increasingly shrill sandwich-board pronouncements of King Charles and Sir David Attenborough. But the rot goes much deeper than ill-informed public comment, although that alone has been enormously influential in promoting the Net Zero fantasy. Activist-ridden science bodies such as the UK Met Office have brazenly used RCP8.5 to flam up weather predictions which in turn has led to onerous requirements being placed on British industry and finance. Politicians have been convinced by patently ridiculous claims and Net Zero rules and regulations have cascaded through the economy and society.
Titan's Surface Organics Surpass Oil Reserves on Earth
Sun Earth Energy Ltd blog from December 2009 covers research from Pike Research indicating serious iussues with Carbon CaptureA new report from Pike Research of Colorado says the addition of carbon capture systems to power plants will add 50% to 70% to the cost of creating electricity for existing and future plants.
The report, titled “Carbon Capture and Sequestration: Drivers and Barriers, Technology Issues, Key Industry Players, Market Analysis and Forecasts,” adds that such increases in costs will be initially underwritten by governments but gradually passed on to ratepayers.
The report will be a wakeup call to many on the potential of such systems, which are targeted at large-scale projects and coal-fired power plants in particular, the latter accounting for half of the world’s energy-related CO2 emissions.
Pike estimates that the CCS industry will grow to revenue of $221.5 billion by 2030. The margins, however, will be low, hovering “close to zero,” and “even over the longer term, the CCS industry, heavily subsidized and equally heavily regulated, will produce relatively low profits. In addition, margins will vary widely along the vertical chain of CCS, from capture to transport to geological storage.”
However, as the report notes, predicting the future profitability is guesswork, since the price of carbon emissions (i.e, the penalties for emitting too much) “will likely be set initially by government fiat and, over the longer term, market forces that are impossible to predict with confidence.”