AUSTRALIAN taxpayers are the only financial backers for Kevin Rudd's $100 million-a-year global clean coal initiative, as world leaders have failed to match their resounding endorsement of the idea at the G8 meeting last July with a single dollar.
Praised by US President Barack Obama as a "significant" announcement, the Global Carbon Capture and Storage Institute, which is charged with speeding the development and take-up of clean coal technology, has attracted more than 200 of the world's biggest economies and companies as members.
But to date their only financial commitment is to guarantee $10 in the event the institute goes broke.............
..........At the G8 meeting in L'Aquila last year, governments had been looking for an announcement that sounded great, but "everyone has done their sums" and the technology was too expensive, he said..............
http://www.theaustralian.com.au/news/na ... 5846623758
watch all the frothing gushing leftys lather up over kruddy