What have been the economic impacts of the drive to cut CO2 emissions?
Without attempting to add up all the money spent by the government on grants, and all the money it spent on subsidies, what has been the effect of individual efforts … specifically, in the energy arena?
FutureGen was supposed to establish that Integrated Gasification Combined Cycle (IGCC) power plants could generate electricity economically while providing for the capture of CO2.
The original project was cancelled, then re-instituted as FutureGen 2, to establish that it was economically viable to capture CO2 in existing coal-fired power plants using an oxygen-rich combustion technology.
Without waiting for FutureGen, a few companies attempted to build IGCC power plants. And while they can generate electricity, they have been economic dinosaurs.
Each project has resulted in cost overruns. While this may not be unusual for new technologies, each IGCC power plant has cost nearly…
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