We certainly have the ability to store CO2 in certain geological formations but there is a lot of uncertainty as to viability and the cost is certainly going to be high initially. If we can prevent the emissions to begin with we are going to be able to in better shape. We discussed conservation earlier, but there us another option, going abroad to help out other countries to raise their efficiencies or even close down some of the older plants. But how does that help the US with her emissions?
Emission
trading was one of the key successes in the negotiations for the
US. By going to other countries where the technologies are not already
running at a high efficiencies (for the application) then with new sensors,
replacement parts, or enhanced monitoring and technology the efficiencies
can be raised cheaply (at least in comparison to doing the same thing
in the U.S. where the efficiencies and the monitoring is already in
place).
To make sure that the U.S. gets the credit the international trading system of emission permits for CO2 needs to be established. The U.S. hopes it will be a model similar to the SO2 emission trading model established in the Clean Air Act (1990). Bottom line: it will be cheaper to go abroad to developing countries and countries of the former Soviet Union and lower their emissions, pay for and claim the credit for the emission reduction.
