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CO2 ambitions impossible, says Shell boss

Monday 10 November 2008

Global ambitions to sharply reduce the amount of carbon dioxide emissions over the next few years cannot be achieved, Shell CEO Jeroen van der Veer says in an interview with Monday’s Financieele Dagblad.

‘It is extremely simple. Over the next few years, the world will produce more oil, more gas and more coal. CO2 capture and storage technology is still in its infancy,’ Van der Veer is quoted as saying. ‘Politicians might not want to hear it, but the percentage of CO2 is going to soar.’

Van der Veer told the FD that he saw the CO2 dilemma as an opportunity for Shell. ‘We are good in technology, in research and we know a lot about CO2,’ he said. ‘This is an entrepreneurial opportunity.’

In addition, Van der Veer said there were great advances to be made in energy saving. ‘This is one of the few areas in which I agree wholeheartedly with [environmental campaign group] Greenpeace,’ he was reported as saying.

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