Bloomberg.com
By Angela Macdonald-Smith
April 7 (Bloomberg) — Carbon-capture and storage needs to be developed more rapidly and on a larger scale to have any chance of meeting greenhouse-gas reduction goals, said Nick Otter, head of a world body aimed at hastening the technology.
Relying on market forces would mean commercial plants being built only after 2030, too late to meet 2050 targets for emissions reductions, Otter, chief executive officer of the Australia-sponsored Global Carbon Capture & Storage Institute, said in Sydney. Each plant may cost as much as 1 billion euros ($1.3 billion), he said.
Greenhouse gases must peak in 2015 and drop by 50 percent by 2050 to avert the worst effects of climate change, the United Nations said in a 2007 report. Royal Dutch Shell Plc, Europes biggest oil company, estimates that carbon-capture and storage technology, known as CCS, could cut global carbon dioxide emissions by more than a third by 2050.
If we dont accelerate this progress we wont meet the targets for CO2, Otter said at a seminar late yesterday. There is no time to do it at the pace the market would like to do it at.
CCS technology involves extracting carbon dioxide from power generation and industrial projects, compressing it and injecting it into depleted oil and gas fields or saline aquifers. It would allow prolonged use of coal for electricity generation while reducing greenhouse pollution.
While carbon is already being stored in projects such as StatoilHydro ASAs Sleipner venture in the Norwegian North Sea at rates of as much as 1 million metric tons a year, the world needs about 600 Sleipners a year for the next decade to help meet emissions reductions targets, Otter said.
20 Projects
Australias Prime Minister Kevin Ruddannounced the formation of the institute in September, pledging finance of as much as A$100 million ($71 million) a year. The Canberra-based body, which has a mandate to facilitate the development of more than 20 commercial-scale CCS demonstration projects by 2020, now has 80 foundation company and country members, up from the 12 that signed up at an initial workshop in London in November, Otter said.
Xstrata Plc, the worlds biggest exporter of power-station coal, Rio Tinto Group, Anglo American Plc and Mitsubishi Corp. were among the initial members, Australian Energy and Resources Minister Martin Ferguson said Nov. 26.
Otter yesterday declined to identify the newest members before Rudd formally inaugurates the institute. The aim is to convert the institute, currently under Australias Department of Resources, Energy and Tourism, into a non-profit company owned by its members by July 1, he said.
To contact the reporter on this story: Angela Macdonald-Smith in Sydney at[email protected]
Last Updated: April 6, 2009 22:41 EDT
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Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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