Note: This sentence pretty much sums it all up: “He’s betting hydrocarbon consumers will increasingly opt to trap emissions from natural gas, if not to help the environment then to duck potential government sanctions — or to sell CO2 at a profit.”
Capturing carbon from gas used to extract tar sands–and using that gas to extract more tar sands! We wish this one was for April Fools.
-The GJEP Team
By John Lippert, April 1, 2014. Source: Bloomberg
Drillers burn off the natural gas that surfaces with oil on a farm in North Dakota. Photo: Spencer Lowell/Bloomberg Markets
Andre Boulet, chief executive officer of Inventys Thermal Technologies Inc. in Burnaby, British Columbia, holds up a 6-inch piece of charcoal, showing how light passes through toothpick-sized air shafts. He says the crevices in this filter offer a cheap way to capture carbon dioxide before it ascends into the atmosphere and haunts future generations.
Boulet, who has spent $12 million on his seven-year-old company, predicts Inventys’s sales may reach hundreds of millions of dollars in five years — driven in part by North America’s natural gas boom, Bloomberg Markets magazine will report in its May issue.
President Barack Obama calls gas a bridge fuel for the U.S. economy. Power plants, factories and refineries are jumping onboard, lured by a 73 percent plunge in U.S. prices from 2005 to March 31. The country generated 28 percent of electricity with gas in 2013, up from 22 percent six years earlier, according to Bloomberg New Energy Finance.
Buoyed by gas, the fossil-fuel industry is trying to bask in a newfound green image.