|
|
Article: EU energy companies get 1B subsidy for clean coal
- Article from:
- AP Worldstream
- Article date:
- March 20, 2009
- Author:
CopyrightCopyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
|
Some of Europe's biggest energy companies will get more than 1 billion from the European Union to test out controversial "clean coal" technology under a deal struck Friday by EU leaders.
The EU's 27 nations agreed on a stimulus package that would invest 1.05 billion ($1.42 billion) in building 13 carbon capture-and-storage projects that could allow European power companies to keep burning cheap coal as the region tries to slash greenhouse gas emissions.
The idea is to remove carbon dioxide from burning coal, turn it into a liquid and pump it far underground into saltwater aquifers or empty oil and gas fields under the North Sea.
The companies will have to ...