Andrew Bolt reports on demise of Rudd's Global Carbon Capture and Storage Institute fiasco.

Extract from the Bolt Report 15 Feb 2012
Quote; "In 2008, the Rudd Government unveiled a typically grandiose plan to fight global warming, with spending of Ruddish dimensions:

Minister for Resources and Energy, Martin Ferguson AM MP, has announced four projects which will move to the next stage of assessment in the $2 billion Carbon Capture and Storage (CCS) Flagships Program… The $2 billion CCS Flagships Program was announced in the 2009-10 Budget and is part of the Australian Government’s $4.5 billion Clean Energy Initiative.

One of those four projects:

* ZeroGen power plant project west of Gladstone in Queensland, generating 400 MWe and aiming to store up to 2.0 mega tonnes of CO2 per annum;

In 2011, ZeroGen collapsed:

Documents filed with ASIC this month show the company, which had proposed a “world-first” $4 billion clean coal power plant storing carbon emissions underground, is under external administration after a liquidator was appointed on October 11…

The Opposition yesterday demanded an inquiry into what they claim is a bungled project after the Commonwealth contributed almost $52 million before recently winning a refund and limiting its losses to about $43 million." unquote.

Query by Allano: When will our pollies acknowledge that CO2 is NOT a pollutant but an essential and valuable component of the atmosphere? It follows that the idea of moving to a low carbon economy is crazy and having legislated targets to achieve it are a nonsense best got rid of. The RET bill of targeting 5% energy from renewable sources by year 2020 must be negated, easily done by changing the date to year 2200. This gives us 200 years to develop the technology.