Shell Chief Seeks Carbon Capture Subsidies
Shell Chief Seeks Carbon Capture Subsidies BELGIUM: April 8, 2008 BRUSSELS - The European Union must create rapid incentives to promote underground storage of carbon dioxide (CO2) to achieve its ambitious climate change goals, the head of oil major Royal Dutch Shell said on Monday. "Because CO2 capture and storage adds costs and yields no revenues, government action is needed to support and stimulate investment quickly on a scale large enough to affect global emissions," Shell CEO Jeroen van der Veer said in a speech prepared for delivery in Brussels.