From: The Motley Fool
Coal is the ugly stepchild of the energy world. And, right now, natural gas, the pretty child, is increasingly taking coal’s place. However, both are still the children of carbon, which is at its base a dirty fuel choice. Carbon dioxide is the big boogeyman for coal right now, but U.S. Energy Secretary Ernest Moniz is already warning that natural gas is next in line for a scare.
During recent written testimony before the House Committee on Appropriations Subcommittee on Energy and Water Development and Related Agencies (say that five times fast), Energy Secretary Ernest Moniz included one line that should send shivers up the spine of every utility: “Looking into the future, CCS [carbon capture] technologies will be required for natural gas, as with coal, to be a major player in a low-carbon world.”
Right now, natural gas is being viewed as a way to reduce carbon emissions. But Moniz is warning that this positive view is temporary, at best. He’s requesting $25 million for, the “Natural Gas Carbon Capture and Storage” demonstration program. That’s a tiny sum, particularly when compared to what Southern Company (NYSE: SO) is spending to build the first large-scale coal carbon capture facility.