In January 2007 California established the Low Carbon Fuel Standard. By 2020 the standard will reduce the carbon intensity of California's passenger vehicles by at least 10%. It is beyond doubt that GTL diesel offers better emissions performance than conventional fuels. "PriceWaterhouseCoopers" This high potential industry collectively faces one significant challange; the need to drive down capital and operating costs of GTL plants. "The Petroleum Economist" "Never before has humanity faced such a challenging outlook for energy and the planet. This can be summed up in five words “"more energy, less carbon dioxide" Jeroen van der Veer, CEO, Royal Dutch Shell PLC, 2008 Today many important low-carbon technologies have higher costs than carbon intensive technologies, and, only through RD&D and market deployment will these costs come down. Some technologies needed to revolutionise the global energy system are still at the R&D stage while many others require further refinement and cost reductions to become fully commercial. This sort of 'Clean Energy New Deal' not only generates economic growth in the short term, but it also will help us win the fight against climate change in the longer term. Source: Tanaka, N., International Energy Agency, Ensuring Green Growth in a Time of Economic Crisis. The Role of Energy Technology, April 2009.
