INDUSTRY'S CO2 INSURANCE PLAN SEEKS TO BLOCK STATE WASTE RULES

An oil and gas industry group is floating model legislation that would establish a first-time federal insurance program for the risks associated with underground storage of carbon dioxide (CO2) to combat global warming, which restricts the insurance to states that do not strictly regulate CO2 as a waste. The proposal also addresses how to regulate the practice of CO2 storage -- a system neither state nor federal regulators have yet created -- by recommending a federal standard for CO2 storage...