Petroleum engineers and geologists are among the most skeptical people regarding climate change. While this presentation will likely not convince anyone one way or the other, it will provide a short review of what scientists and the general pubic are thinking.
If the U.S. decides to join much of the world in attempting to stabilize the CO2 concentration in the atmosphere, large scale changes will occur throughout society. Carbon capture and storage is proposed to provide one-seventh of the carbon management budget and the cost and scale of the potential CCS business is staggering. The coal fired electric power industry will be drastically affected. CO2 capture systems will be installed in old plants and the design of new plants will be altered. The petroleum business will play a part. The equivalent of forty Permian Basins CO2 transportation and injection systems will need to be developed over the next forty years in the United States alone. The presentation will cover these aspects of society’s potential response the climate change.
While CCS could mitigate global warming, some significant barriers exist which will delay and may prevent its widespread application. The presentation will outline some of the technical, legal, economic and public acceptance obstacles.