last updated 8th December 05
by 4ecotips.com

Extra 15% could be added to fuel bills

The head of gas and oil giant BP is anticipating a push for more carbon capture projects.

Lord Browne told the BBC that many businesses and consumers were keen to explore the possibility of new technologies that could lead to cost-effective carbon capture and storage as a way of reducing climate-changing emissions.

"There clearly is a need to begin to develop the technologies that might actually reduce the cost of reducing carbon emissions.

"I note that business is leading quite lot of activity in this area. There clearly is a demand for customers to have alternative energy," he said.

Nevertheless, he suggested that there was little hope of the international community reaching an agreement on the next series of carbon emission targets because of continued differences.

"The idea of getting clear targets right now that are binding, and could be used for example to set a limit in which you could trade carbon is premature. I think it will come but not yet," suggested Lord Browne.

BP has already called on governments to provide incentives for oil and gas companies to adopt carbon capture technologies and it is estimated that such projects could be financed by adding around ten to 15% to fuel bills.