Germany Delays Carbon-Storage Law

GALWAY, IRELAND--July 1, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--Europe's ambitions to become a leader in the development of carbon capture and storage (CCS) solutions have been dealt a serious blow following the decision by the German government to postpone the introduction of a proposed CCS law. The current coalition government has decided to put off any plans to introduce a carbon-storage law until after the general elections in September. The law, which would create a legal framework for the rollout of CCS pilots and speed up the development of the technology, is seen as vital to helping Germany achieve its carbon-dioxide emissions targets under European Union law. This leaves the U.K. leading the charge to get CCS up and running, as the government has already announced that there will be no more coal-fired power plants built in the country without a working CCS solution.

Companies featured: E.ON AG (OTC:EONGY), RWE AG (OTC:RWEOY), Siemens AG (NYSE:SI)