Friday, March 5, 2010

Isramart : Expert warns of potential legal costs of carbon capture technology

Isramart news:
An expert in risk management is raising some warning flags about pumping CO2 emissions underground without thinking of the potential long term legal impacts.
Norma Neilson, with the Haskayne School of Business, wonders who's going to point the finger at who if there are problems with the technology years down the road.
"Those uncertainties are difficult for businesses to deal with," she said.
Neilson adds there needs to be a clear definition of who's responsible if the technology fails - government or oil companies.
"It's very difficult in the private sector to get insurance for 400 years at a time," Nielson said.