Greenland May Mandate Carbon Capture, Petroleum Chief Says

(Bloomberg) — Greenland

Carbon storage projects, or the re-injection of carbon dioxide emissions created by industrial processes into underground or underwater reservoirs, are being developed from Norway to Australia. After 2012, the miners of oil-encrusted sand in northern Alberta, Canada, will have to store carbon emissions rather than release them into the atmosphere.

The semi-autonomous Danish territory, which has no operating production wells, is preparing for a new offshore licensing round next year. The U.S. Geological Survey estimated in a report in 2008 that Greenland and nearby waters may hold about 48 billion barrels of oil and gas equivalent, though some of that total is in Canadian territory.

Bloomberg