no doubt millions of tonnes a year can be captured, transported and stored safely underground by this type of technology. type of technology. professor hazeldene type of technology. professor hazeldene so type of technology. professor hazeldene so why type of technology. professor hazeldene so why has - type of technology. professor hazeldene so why has it - type of technology. professor hazeldene so why has it not l type of technology. professor - hazeldene so why has it not been rolled out more widely than is the case at the moment? 50 rolled out more widely than is the case at the moment? rolled out more widely than is the case at the moment? so you are quite riaht case at the moment? so you are quite ri . ht that case at the moment? so you are quite right that we case at the moment? so you are quite right that we are case at the moment? so you are quite right that we are way case at the moment? so you are quite right that we are way behind case at the moment? so you
not incentivising the oil and gas companies to start drilling these boreholes and we pay them for that to store the carbon that of course their product creates? t to store the carbon that of course their product creates? to store the carbon that of course their product creates? i think that is a very appropriate their product creates? i think that is a very appropriate question. - their product creates? i think that l is a very appropriate question. and again, the answer to that is that in europe and indeed in the uk still, we are focused on trying to reduce emissions so that if you are a big industry and you want to carry on emitting carbon dioxide, you pay money and you buy a permit to carry on polluting. and i think that s the wrong way round. what we need to do is pay the oil and gas companies who have the technology, or pay any company who wants to get involved in injecting and storing carbon dioxide. so we need to focus a lot more on creating that market. rate of carbon dioxid
tonne of carbon dioxide tax, which will then make everything really, really expensive. or we can focus on telling oil companies and coal companies and carbon producers that this is what they have to do if they want to operate in our country. so that obligation is placed on the companies so that if they have the technology to bring carbon out of the ground, they have to find and develop the technology, which they all do now already have, they developed the technology to put the carbon back into the ground. and that cost of putting the carbon into the ground ultimately will be paid by small increases of price to us, the consumers. because at the moment, we are effectively behaving as if instead of putting our rubbish in wheelie bins and having it taken away by the council, that is the smart thing to do, what we are presently all doing is having our carbon dioxide and just dumping it in the street outside our house so we are not paying the true price of
tax, which tonne of carbon dioxide tax, which will then make everything really, really expensive. or we can focus on telling oil companies and coal companies and carbon producers that this is what they have to do if they want to operate in our country. so that obligation is placed on the companies so that if they have the technology to bring carbon out of the ground, they have to find and develop the technology, which they all do now already have, they developed the technology to put the carbon back into the ground. and that cost of putting the carbon into the ground ultimately will be paid by small increases of price to us, the consumers. because at the moment, we are effectively behaving as if instead of putting our rubbish in wheelie bins and having it taken away by the council, that is the smart thing to do, what we are presently all doing is having our carbon dioxide and just dumping it in the street outside our house so we are not paying the true price of
end, just saying that we are not going to place a price on it, use the oil and you are the oil and gas and coal producers, you have to store one tonne of carbon for every tonne of carbon you produce and only that way will we get into the arithmetic balance of the carbon emission with the carbon take back obligation which has to make it work. 50 obligation which has to make it work. , obligation which has to make it work, , , work. so it is putting the obligation work. so it is putting the obligation on work. so it is putting the obligation on the - work. so it is putting the i obligation on the emitters. work. so it is putting the - obligation on the emitters. but it is also ensuring that for those who develop the technology, there is a profit and incentive to get more and more companies using it, correct? correct, because nothing in our industrial society really works for very long unless it makes a profit. but that is not as difficult as it sounds because if the tax is include