This sounds like the start of a new generation of anti-pollution methods that might be viable revenue streams in the future.
The program would include testing and monitoring of wells to protect groundwater supplies, with rules going into effect as early as 2010.
"With proper testing and monitoring, carbon sequestration could play a major role in reducing carbon-dioxide emissions into the atmosphere," Grumbles said on a conference call with reporters.
Wells would be half a mile or more in depth, with a rock-confining zone to create a seal to prevent carbon dioxide from escaping.
I could see oil companies leasing out the land under played out wells in order to store carbon in. They might even get special treatment from the government for using the land they probably won't be using anyway. They could even get free offsets by doing this kind of thing as a side business.
Also a carbon pumping device could be a boon for a company that can make it quickly and put it in place cheaply. I'm sure that those heavy machinery companies like Mitsubishi or National Oilwell Varco could give it a try if it was profitable. The more I look into this green tech the more it looks like the dawning of the next Internet Age.
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