A BALANCED JOINT STATEMENT BY THE G8 ENERGY MINISTERS

Energy security the Italy G8 energy initiatives.Overview.

One of the cornerstones of the G8 Energy ministers following on from initiatives at the St Petersberg summit, is on energy security, with multifaceted solutions across a broad series of energy resources, technology and innovation. There is no simple solution of an emergent technology that is better than an existing one, each is limited by economic or perceived constraints real or imagined.

What the G8 initiatives will do, is to implement transparency of the energy complex, identify areas of cooperation in energy resource management and transfer. Provide structure for the efficient and economic transfer of technology to the worlds poorest countries to enable development and independence, This will also enable those countries to bypass the carbon cycle where possible and to enable positive economic growth and improved standards for education,health,and infrastructure.The initiatives will enable existing economic growth .

The statement ( policy initiatives) is in two parts, One a broad statement on the coupled energy –climate complex and transparency, expansion of electricity to the 2 billion who live without, and secondly on mechanisms such as carbon capture, energy diversification including nuclear.

Part 1

While recognising varied national circumstances among the participating countries, we agree that we must play an important role in achieving global energy availability and access, while contributing to sustainable development.

Energy Investments

1. We believe that coping with the interlinked issues of energy investments,
energy access and availability, and the climate change challenge
is key to the future of our countries. The current financial and
economic crisis must not delay investments and programmed energy
projects which are essential to economic recovery and sustainable
prosperity through the world.

2. We stress the need to define and share long-term scenarios on energy
policy with the aim to increase transparency and reduce volatility in
the energy markets. Consequently, we urge governments and energy
companies to adopt a long-term view in planning their investments in
energy infrastructure.

Energy Access for the Poor: Focus on Africa
1. We recognise that though energy demand is growing worldwide, modern
electricity services are steadily available for only one fourth of the world population.

2. Energy poverty remains widespread in many areas, most notably in Africa and region of Asia and Latin America. We commit to take resolute action without delay, together with countries’ governments, international financial institutions, local communities and the private sector
.
3. We confirm that access to modern and commercial energy services
while combating energy poverty, is an important element of economic
development and improvement of human and social living standards,
including clean water, education, health care while contributing to the
achievement of the Millennium Development Goals.

Part 2

The climate change challenge has a global nature asking for the involvement
and collaboration of all countries, developed and developing based on the principle of common but differentiated responsibilities.

We endorse a comprehensive approach to address all greenhouse gas emissions. We recognise the importance of increasing energy efficiency through the entire energy chain and of accelerating the demonstration, development and deployment of low-emission energy technologies, including renewable energy sources, smart grid systems and energy storage, refurbishment of power generating facilities and cogeneration, sustainable mobility and low-emission transport vehicles, advancing demonstration of Carbon Capture and Storage (CCS), and for those of us interested, nuclear power.

4. We are aware that despite diversification strategies, fossil fuels will continue to be a key component of the energy mix in worldwide, for many decades into the future. Therefore, the development of innovative technologies such as Carbon Capture and Storage (CCS) will contribute to tackle the climate change challenge.

We support the launch of large – scale CCS demonstration projects globally and call for the active involvement of the private sector in this endeavour.

We support work by the International Energy Agency, Global Carbon Capture and Storage Institute and Carbon Sequestration Leadership Forum (CSLF) to advance this technology. The International Energy Forum, OPEC and other institutes may join their effort. We expect that the CSLF Ministerial Meeting to be held in London on October 12-13, 2009 might represent a timely opportunity to assess the state of the art and to identify financing mechanisms

The two main points here are goals for the development of indigenous energy in Africa such as hydro (although this will be opposed by the various NGO whose vested interest occupation is keeping Africa poor).

The realization that an immediate transformation from fossil fuels to alternatives is technically and economically impossible. This due to the immense destruction of wealth of existing assets, and the 45 trillion dollar replacement problem.

Global Carbon Capture and Storage has a wealth of transparent information ,and some interesting innovative mechanism eg.

Advanced Concepts

Advanced Chemical and Biological Approaches Recycling or reuse of CO2 from energy systems would be an attractive alternative to storage of CO2. The goal is to reduce the cost and energy required to chemically and/or biologically convert CO2 into either commercial products that are inert and long-lived or stable solid compounds.
Two promising chemical pathways are magnesium carbonate and CO2 clathrate, an ice-like material. Both provide quantum increases in volume density compared to gaseous CO2. As an example of the potential of chemical pathways, the entire global emissions of carbon in 1990 could be contained as magnesium carbonate in a space 10 kilometers by 10 kilometers by 150 meters.