Even the most optimistic projections for the rapid build-out of solar, wind, and other low-carbon resources acknowledge that coal, natural gas, and other fossil fuels will dominate the world's energy mix for decades to come. If the vast greenhouse gas emissions from burning these fossil fuels continue to enter the planet's atmosphere, global warming will not be limited to sustainable levels.
Jurisdictions with dedicated liability regimes for sequestered carbon generally fall into one of two camps. The first camp holds developers liable for carbon stored underground over extended timeframes, such as the 50-year liability imposed by U.S. federal law, which doubles to 100 years for projects tapping into the lucrative incentives offered under California law. The second camp, including Australia, the Canadian province of Alberta as well as certain E.U. members and U.S.
"The parallels between CCS and nuclear power are far from obvious at first glance. After all, nuclear produces a desirable commodity in the form of electricity, while CCS removes an unwanted by-product of generating that same commodity using fossil fuels," emphasizes Mormann.