Some good progress - RIO enters the Game
May 22nd 2007 04:16
Some good progress
RIO Teams up with BP on Green Energy link
An article in the Saturday Fin review stated that RIO – one of the worlds largest contributors to the emissions game has signed a deal with BP to develop carbon capture and hydrogen power technologies.
The initial budget of $32 mill makes our humble light bulb changing seem rather insignificant (every bit does help) but I did have a laugh given the article was placed next to an article outlining how all the top execs spend their millions and the Macqurie Bank CEO pretty much earned the same amount - I am not going to enter into a tall poppy debate about that nor am I going to complain because at least RIO is making an effort- it just made me laugh………..
And by the way the entire project will be about $1billion over time..it is good to see the CEO saying the Global Warming debate is having an impact, he says it has accelerated the study of clean coal technology. The project will eventually enable them to turn coal to gas and produce power on an industrial scale and any Carbon produced from the project could be stored underground…hopefully nowhere near any underground drinking water supplies…They haven’t said if the projects will be in Australia but its all one planet I guess.
Another aside, does anyone else find it ironic that one of the main reasons we didn’t sign the Kyoto agreement was to save coal workers jobs….on Friday I heard that due to the drought they have had to shut down some power plants in Qld that use too much water….guess who is getting laid off, Coal Workers….YUP……
RIO Teams up with BP on Green Energy link
An article in the Saturday Fin review stated that RIO – one of the worlds largest contributors to the emissions game has signed a deal with BP to develop carbon capture and hydrogen power technologies.
The initial budget of $32 mill makes our humble light bulb changing seem rather insignificant (every bit does help) but I did have a laugh given the article was placed next to an article outlining how all the top execs spend their millions and the Macqurie Bank CEO pretty much earned the same amount - I am not going to enter into a tall poppy debate about that nor am I going to complain because at least RIO is making an effort- it just made me laugh………..
Another aside, does anyone else find it ironic that one of the main reasons we didn’t sign the Kyoto agreement was to save coal workers jobs….on Friday I heard that due to the drought they have had to shut down some power plants in Qld that use too much water….guess who is getting laid off, Coal Workers….YUP……
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