Inside these posts: Carbon dioxide

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Morgan County chosen as FutureGen CO2 site

The FutureGen Alliance announced Monday that it has selected Morgan County to sequester carbon dioxide emissions that would come from a coal-fired power plant 32 miles from the site.

The long-stalled $1.3 billion project, which includes CO2 storage, a visitor center, research and training facilities, is backed by $1 billion in federal funding from the American Recovery and Reinvestment Act and $300 million in private investment. Approximately 30 communities competed in the site selection process in the second try to get the project off the ground. Get the full story »

ICE details staff cuts at Chicago Climate Exchange

Intercontinental Exchange Inc. is shedding some 40 employees from its U.S. environment bourse Chicago Climate Exchange (CCX) by the end of the year, with further cuts in 2011, ICE’s chief financial officer said. “We had about 66 people when we bought the company. I think we’ll be closer to 25 by the end of the year. And then we’ll reduce further into the first quarter,” Scott Hill told a conference call following a company earnings update this week.

The futures exchange group reported a stronger-than-expected 15 percent rise in quarterly profit on Monday.

Industry sources told Reuters in August that ICE had started to make layoffs at CCX in July due to the lack of U.S. action on climate change. Get the full story »

Deere leaves CO2 cap-and-trade group

Deere & Co. has quietly dropped out of a coalition of large companies that has supported a cap-and-trade program for reducing carbon dioxide emissions.

Deere, the world’s largest manufacturer of farm machinery, opted to leave the U.S. Climate Action Partnership in May because the group’s legislative strategy “no longer served as a foundation for moving forward” with climate change regulation, Ken Golden, a spokesman for the company said Tuesday. Get the full story »