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years, effectively proving the feasibility of carbon sequestration. When the project costs ballooned to $1.8 billion, the DOE pulled out and the project ended. President Obama, however, has earmarked $1 billion in his stimulus package for “fossil energy research and development,” which could mean the FutureGen project, so the project could still be viable.7 With effective carbon sequestration, the United States could rely on its abundant coal supplies for decades to come. If safe carbon sequestration can be realized, the NETL says that the Regional Carbon Sequestration Partnerships (RCSP) have identified “more than 88 billion metric tons of geologic storage potential in 9,667 oil and gas reservoirs distributed over 27 states and three provinces.” In addition, RCSP estimates that more than 180 billion metric tons of carbon dioxide sequestration potential exists in unmineable coal seams in 24 states and three provinces.8 Growing concern over the environmental effects of petroleum products is likely to result in an expansion of policies designed to curb carbon emissions. Coupled with uncertainty over supply, the increasing costs associated with producing coal, oil, and natural gas will render them less economically viable. Without advances in carbon sequestration techniques and other carbon mitigating technologies, continued production of both conventional and unconventional fuel sources will be environmentally and economically unsustainable.9 Summary • Hydrocarbons will continue to play a role in the world’s energy portfolio. • Due to growing concern over environmental effects related to the use of hydrocarbons, an expansion of policies to curb carbon emissions is likely to occur. • Without advances in carbon capture and sequestration and other carbon mitigating technologies, continued production of both conventional and unconventional fuel sources will be environmentally unsustainable. • Some industries, such as mining, steel, shipping, airlines, and those using petroleum as an input, will not be able to easily transition from a reliance on hydrocarbons to other environmentally friendly sources. • Currently, coal is an important part of the nation’s energy economy because it is the main source of electric power generation. • There are many environmental concerns associated with the use of coal; specifically carbon dioxide emissions. • Meeting future U.S. energy demand may require the extraction and production of large deposits of unconventional resources, such as oil sands and oil shale. 119PDF Image | Shaping Energy Technology Transition
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