Friday, July 17, 2009

MORE Cost of Cap-n-Tax

Accomodating a CO2 limit imposed by Waxman-Markey's Cap-n-Tax bill may not be cheap. Not only will buying the carbon (coal, natgas) become more expensive as the nation is marched back to the 1950's; just getting rid of the damn CO2 that IS used will cost.

A lot.

University of Houston energy Michael Economides says in this recent study that CCS for just Kyoto Protocol-type CO2 cuts in the U.S. would require the drilling of 161,429 injection wells by 2030 at a cost of 1.61 trillion dollars — and there’s no guarantee that the CO2 would stay sequestered, much less accomplish anything for the climate.

That price tag doesn’t include the cost of capturing the CO2 at the point of generation, purchasing rights of way for pipelines, pipeline installation costs, liability insurance etc. Economides says the total cost may be as high as $1 trillion annually.

By the way, Waxman-Makey requires a helluvalot more CO2 reduction than Kyoto.

Add more zeros.

HT: GreenHell

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