Lawmakers unveil new round of Iran sanctions

WASHINGTON (AP) — Senators pressed ahead Thursday on a new set of tough sanctions against Iran‘s domestic industries as it seeks to cripple the Islamic republic’s economy and thwart its nuclear ambitions.

Sens. Bob Menendez, D-N.J., and Mark Kirk, R-Ill., unveiled a package of penalties that would designate Iran‘s energy, port, shipping and ship-building sectors as entities of proliferation and sanction transactions with these areas. The legislation also would penalize individuals selling or supplying commodities such as graphite, aluminum and steel to Iran.

The punitive measures build on the sanctions on Tehran’s oil industry that the two lawmakers have shepherded through Congress in the past year.

“Yes, our sanctions are having a significant impact, but Iran continues their work to develop nuclear weapons,” Menendez said in a statement, adding that with the new penalties, “We will send a message to Iran that they can’t just try to wait us out.”

Kirk said the measure “will greatly increase the economic pressure on the Iranian regime and send a clear message of support to the Iranian people.”

The sanctions are contained in an amendment the two lawmakers hope to add to a far-reaching defense policy bill that the Senate was debating and could wrap up by week’s end. Congress has overwhelmingly backed previous efforts by Menendez and Kirk.

The legislation also would designate the Islamic Republic of Iran Broadcasting and its president as human rights abusers for broadcasting forced televised confessions and show trials.

The United States and European Union have imposed tough sanctions on Iran that have weakened its economy. But Tehran has found ways to bypass the penalties, such as Turkey’s use of gold to pay for Iranian natural gas imports.

The Menendez-Kirk measure would allow the president to impose sanctions in cases of the sale or transfer of precious metals, targeting efforts by Iran to circumvent the penalties.

Iran maintains that its nuclear program is for peaceful purposes only.

Mark Dubowitz, a sanctions expert and executive director of the Foundation for Defense of Democracies, said there is strong bipartisan support for intense sanctions, with the goal of pushing the Iranian economy to the brink of economic collapse.

Only then “can the central thesis of the administration’s sanctions policy be fairly tested: That crippling economic pressure will break the nuclear will of Iran’s supreme leader and his Revolutionary Guards and lead them to meet their obligations under international law,” Dubowitz said.

The president has 90 days from the legislation’s enactment to act. The bill does include the authority to waive the sanctions based on national security.

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Noisy city: Cacophony in Caracas sparks complaints

CARACAS, Venezuela (AP) — This metropolis of 6 million people may be one of the world’s most intense, overwhelming cities, with tremendous levels of crime, traffic and social strife. The sounds of Caracas‘ streets live up to its reputation.

Stand on any downtown corner, and the cacophony can be overpowering: Deafening horns blast from oncoming buses, traffic police shrilly blow their whistles and sirens shriek atop ambulances stuck in bumper-to-bumper traffic.

Air horns routinely used by bus drivers are so powerful they make pedestrians on crosswalks recoil, and can even leave their ears ringing. Loud salsa music blares from the windows of buses, trucks with old mufflers rumble past belching exhaust, and “moto-taxis” weave through traffic beeping high-pitched horns.

Growing numbers of Venezuelans are saying they’re fed up with the noise that they say is getting worse, and the numbers of complaints to the authorities have risen in recent years.

One affluent district, Chacao, put up signs along a main avenue reading: “A honk won’t make the traffic light change.”

“The noise is terrible. Sometimes it seems like it’s never going to end,” said Jose Santander, a street vendor who stands in the middle of a highway selling fried pork rinds and potato chips to commuters in traffic.

Prosecutor General Luisa Ortega recently told a news conference that officials have started “putting an increased emphasis on promoting peaceful coexistence” by punishing misdemeanors such as violations of anti-noise regulations and other minor crimes. That effort has translated into hundreds of noise-related cases in recent years.

Some violators are ordered to perform community service. For instance, two young musicians who were recently caught playing loud music near a subway station were sentenced to 120 hours of community service giving music lessons to students in public schools.

Others caught playing loud music on the street have been charged with disturbing the peace after complaints from neighbors. Fines can run as high as 9,000 bolivars, or $ 2,093.

On the streets of their capital, however, Venezuelans have grown used to living loudly. The noisescape adds to a general sense of anarchy, with many drivers ignoring red lights and blocking intersections along potholed streets strewn with trash.

“This is something that everybody does. Nobody should be complaining,” said Gregorio Hernandez, a 23-year-old college student, as he listened to Latin rock songs booming from his car stereo on a Saturday night in downtown Caracas. “We’re just having fun. We’re not hurting anybody.”

Adding to the mess is the country’s notoriously divisive politics, which regularly fill the streets with marches and demonstrations.

On many days, the shouts of protesters streaming through downtown can be heard from blocks away, demanding pay hikes or unpaid benefits.

And the sporadic crackling of gunfire in the slums can be confused for firecrackers tossed by boisterous partygoers.

It’s difficult to rank the world’s noisiest cities because many, including Venezuela’s capital, don’t take measurements of sound pollution, said Victor Rastelli, a mechanical engineering professor and sound pollution expert at Simon Bolivar University in Caracas. But Rastelli said he suspects Caracas is right up there among the noisiest, along with Sao Paulo, Mexico City and Mumbai.

Excessive noise can be more than simply an annoyance, Rastelli said. “This is a public health problem.”

Dr. Carmen Mijares, an audiologist at a private Caracas hospital, said she treats at least a dozen patients every month for hearing damage caused by prolonged exposure to loud noises.

“Many of them work in bars or night clubs, and their maladies usually include temporary hearing loss and headaches,” Mijares said. For others, she said, the day-to-day noise of traffic, car horns and loud music can exacerbate stress and sleeping disorders.

Several cities have successfully reduced noise pollution, said Stephen Stansfeld, a London psychiatry professor and coordinator of the European Network on Noise and Health.

One of the most noteworthy initiatives, Stansfeld said, was in Copenhagen, Denmark, where officials used sound walls, noise-reducing asphalt and other infrastructure as well as public awareness campaigns to fight noise pollution.

But such high-tech solutions seem like a remote possibility in Caracas, where streets are literally falling apart and aging overpasses regularly lack portions of their guard rails. Prosecutors, angry neighbors and others hoping to fight the noise will have to persuade Venezuelans to do nothing less than change their loud behavior.

For Carlos Pinto, however, making noise is practically a political right.

The 26-year-old law student and his friends danced at a recent street party to house music booming from woofers in his car’s open trunk, with neon lights on the speakers that pulsed to the beat.

When asked about the noise, he answered: “We will be heard.”

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AP freelance video journalist Ricardo Nunes contributed to this report.

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Christopher Toothaker on Twitter: http://twitter.com/ctoothaker

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Family learns of student’s death on Facebook

ATLANTA (AP) — The parents of a south Georgia college student first learned from Facebook that their daughter had been found dead in a dormitory study room shortly before Thanksgiving. Now, they hope that Facebook and other social media sites can help solve the death of 17-year-old Jasmine Benjamin, which police are investigating as a homicide.

The Valdosta State University freshman was found unresponsive on a study room couch on Nov. 18.

A family friend forwarded the Facebook post about the teen’s death to her parents before they were officially notified by authorities, said A. Thomas Stubbs, an attorney for the victim’s mother, Judith Brogdon, and her stepfather, James Jackson. But many questions remain unanswered about how she died.

The family has hired a private investigator, and a new Facebook site has been set up in hopes that students and others might share tips.

While some Facebook comments have already been turned over to law enforcement officers, the family hopes friends, classmates or others who noticed suspicious comments will also alert authorities.

“Anything that reveals a little more information than what’s publicly known about her death, those are the kind of comments police are looking for as someone who might warrant a closer examination,” Stubbs said.

Also of interest are “unusual comments or unusually timed comments about her death,” he said.

Police detectives have canvassed dormitories and interviewed several students on the campus, located about 250 miles south of the family’s home in Gwinnett County, outside Atlanta.

Benjamin wanted to follow the career path of her mother and become a nurse.

Police say they’re treating the case as a homicide, though autopsy results are not complete and they can’t say for certain whether she was killed. There were no obvious signs of a crime when her body was found, but an autopsy raised questions, authorities have said.

“We’re providing what resources are necessary to assist Valdosta State University police in solving this crime,” Georgia Bureau of Investigation spokesman John Bankhead said. “The crime lab is expediting evidence from this incident.”

Shortly after Benjamin’s parents learned of her death from Facebook, Lawrenceville police officers knocked on the doors of the family home to inform them officially that their daughter was dead, Stubbs said.

“As frustrating as that may be for the family to learn that way, they understand it’s a different world,” Stubbs said.

The family has yet to learn the possible timeframe of when their daughter died, and police have not shared any theories about how she was killed, Stubbs said.

“We know that they have looked at the phone records, video records that they can find in the school,” he said. Beyond that, they’ve been going through legal procedures that are required to obtain records from Facebook Inc.

The family hired Martinelli Investigations Inc. of Lawrenceville to assist in the investigation.

Private investigator Robin Martinelli said Wednesday that any video near the scene, even if may seem insignificant, could prove helpful in the investigation.

“It wouldn’t matter if it was two weeks before, two hours before or 20 minutes before,” she said.

Martinelli said she’s confident that police are working diligently to follow up on leads, but private investigators can often provide valuable assistance, she said.

“On any homicide, they’re going to work around the clock aggressively every minute, and they’re doing that,” she said.

She said Jasmine Benjamin was a strong student who showed great potential. “Her favorite color was purple, her nickname was Jazzy,” she said.

“She wanted to help people, plain and simple,” her stepfather, James Jackson, told WSB-TV. “That was her goal in life. That’s all she talked about since she was young — ‘I want to be able to help people.’”

Valdosta State campus police, city police and the GBI were working together to conduct interviews and collect evidence, the university said in a statement Tuesday. University officials said they couldn’t release any further information.

Martinelli hopes students away at college keep in touch with their parents — and give them the passwords to social networking sites and their cell phones in case anything happens.

“If you have passcodes to your computer, your phone, please tell your parents,” she said. “Don’t tell everybody in the world, but tell your parents your passcodes.”

She said some of the best advice parents can give students is this: “They should listen to their gut,” she said. “If they walk into a situation and it’s not feeling right, leave.”

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Former baseball star Doug DeCinces indicted for insider trading

(Reuters) – Former Baltimore Orioles third baseman Doug DeCinces has been indicted by a federal grand jury for insider trading, the Justice Department said on Wednesday.

DeCinces was charged with 42 counts of criminal securities fraud and one count of money laundering over the 2008 purchase of stock in a medical device company based on insider information, according to an indictment filed in a federal court in Southern California.

DeCinces, 62, bought $ 160,000 worth of stock in Advanced Medical Optics Inc, after a “close personal friend” alerted him to an impending takeover bid by Abbott Laboratories, according to prosecutors.

He sold his stock shortly after the takeover bid was announced, making $ 1.3 million in profits, the department said.

A lawyer for DeCinces did not immediately respond to requests for comment.

The criminal charges came on the heels of civil charges filed against DeCinces in August 2011 by the Securities and Exchange Commission related to the same accusations.

DeCinces settled those charges with the SEC, agreeing to pay $ 2.5 million in fines, while neither admitting nor denying wrongdoing in the trading of Advanced Medical Optics shares.

The indictment also names three friends of DeCinces to whom he provided the insider information to make up for previous investment advice that “had gone bad,” according to prosecutors.

The others indicted are David Parker and Fred Scott Jackson, each charged with six counts of securities fraud. A third friend, Roger Wittenbach, faces four securities fraud charges. Parker also faces a money laundering charge.

The securities fraud charges carry a maximum sentence of 20 years imprisonment each, while the money laundering charges carry a 10-year maximum sentence for each count.

The four men charged are scheduled to appear in the U.S. District Court in Santa Ana, California, on December 17.

(Reporting by Mary Slosson; Editing by Cynthia Johnston and Eric Walsh)

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Wall Street jumps in another “fiscal cliff” swing

NEW YORK (Reuters) – Stocks rallied on Wednesday after comments from House Speaker John Boehner, the top Republican in Congress, on a possible compromise to avoid the “fiscal cliff” turned the market around.

The S&P 500 rebounded from a 1 percent decline, gaining more than 20 points from its low after Boehner, an Ohio Republican, said he was optimistic that a budget deal to avoid big spending cuts and tax hikes can be worked out. President Barack Obama added to the good feelings, saying he hoped to get a deal done in the next four weeks.

Whether or not those remarks reflect the reality of negotiations is another story.

“The fiscal cliff is dominating the discussion, and short term, we’re a little bit too optimistic on it being fixed right away,” said John Manley, chief equity strategist for Wells Fargo Advantage Funds in New York.

In expectation of higher dividend tax rates in 2013, companies have been shifting dividends or announcing special payouts to shareholders.

Costco Wholesale Corp , up 6.3 percent at $ 102.58, was the S&P 500′s biggest percentage gainer after it became the latest company to announce a special dividend.

The market’s move marked the second straight day where a leading legislator dictated trading action. On Tuesday, stocks fell on pessimistic remarks from Senate Majority Leader Harry Reid, a Democrat from Nevada.

The market has been swinging for weeks now on headlines from Washington, with Wednesday’s gyrations once again highlighting the importance that Wall Street is giving to finding a solution to avoid the series of tax increases and spending cuts that could push the U.S. economy into recession.

The Dow Jones industrial average <.DJI> rose 106.98 points, or 0.83 percent, to 12,985.11 at the close. The S&P 500 <.SPX> gained 10.99 points, or 0.79 percent, to 1,409.93. The Nasdaq Composite <.IXIC> added 23.99 points, or 0.81 percent, to close at 2,991.78.

The S&P 500 bounced off a strong support area near 1,385 that includes both its 200- and 14-day moving averages. It closed above 1,400 for the third session in four – an optimistic sign for stock bulls.

Knight Capital Group Inc shares jumped 15.2 percent to $ 3.42 on news that Getco Holding proposed a $ 1.4 billion merger with Knight, while Virtu Financial offered to buy Knight for at least $ 1.1 billion.

Apparel retailer Express Inc rose 8.9 percent to $ 14.15 after it forecast strong earnings for the current quarter as lower prices and easy-to-understand discounts led to robust Black Friday sales.

The S&P retail index <.SPXRT> gained 1.4 percent.

Green Mountain Coffee Roasters surged 27.3 percent to $ 36.86 a day after it forecast quarterly and full-year earnings well ahead of analysts’ expectations.

Nearly 6.1 billion shares changed hands on the New York Stock Exchange, the Nasdaq and NYSE MKT, below the daily average so far this year of about 6.48 billion shares.

On the NYSE, roughly seven stocks rose for every three that fell, and on Nasdaq, five issues rose for every three that fell.

(Reporting by Rodrigo Campos; Editing by Jan Paschal)

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Rapper PSY wants Tom Cruise to go ‘Gangnam Style’

BANGKOK (AP) — The South Korean rapper behind YouTube’s most-viewed video ever has set what might be a “Mission: Impossible” for himself.

Asked which celebrity he would like to see go “Gangnam Style,” the singer PSY told The Associated Press: “Tom Cruise!”

Surrounded by screaming fans, he then chuckled at the idea of the American movie star doing his now famous horse-riding dance.

PSY’s comments Wednesday in Bangkok were his first public remarks since his viral smash video — with 838 million views — surpassed Justin Bieber‘s “Baby,” which until Saturday held the record with 803 million views.

“It’s amazing,” PSY told a news conference, saying he never set out to become an international star. “I made this video just for Korea, actually. And when I released this song — wow.”

The video has spawned hundreds of parodies and tribute videos and earned him a spotlight alongside a variety of superstars.

Earlier this month, Madonna invited PSY onstage and they danced to his song at one of her New York City concerts. MC Hammer introduced the Korean star at the American Music Awards as, “My Homeboy PSY!”

Even President Barack Obama is talking about him. Asked on Election Day if he could do the dance, Obama replied: “I think I can do that move,” but then concluded he might “do it privately for Michelle,” the first lady.

PSY was in Thailand to give a free concert Wednesday night organized as a tribute to the country’s revered King Bhumibol Adulyadej, who turns 85 next month. He paid respects to the king at a Bangkok shopping mall, signing his name in an autograph book placed beside a giant poster of the king. He then gave an outdoor press conference, as screaming fans nearby performed the pop star’s dance.

Determined not to be a one-hit wonder, PSY said he plans to release a worldwide album in March with dance moves that he thinks his international fans will like.

“I think I have plenty of dance moves left,” he said, in his trademark sunglasses and dark suit. “But I’m really concerned about the (next) music video.”

“How can I beat ‘Gangnam Style’?” he asked, smiling. “How can I beat 850 million views?”

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Associated Press writer Thanyarat Doksone contributed to this report.

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Play Your Wii U Anywhere — Even on a Train

Wii U on a Train

No need for a TV set. If you plug the Wii U in, you can interact entirely with the GamePad. This is on a Japanese Shinkansen, a high-speed train.

Click here to view this gallery.

[More from Mashable: Nintendo Unveils Wii Mini for the Canucks]

Nintendo’s new Wii U console may have one real advantage over the competition: portability. Since you don’t need a television to play a good portion of the Wii U titles, gaming on the road is as easy as locating a power outlet.

Rocket News 24 tested the console’s mobility by taking a Wii U on a Japanese bullet train, which has power outlets at every seat. Thanks to that — and a little iPhone tethering magic — their staff was able to play New Super Mario Brothers U and Call of Duty Black Ops 2 while riding comfortably.

[More from Mashable: Wii U Sells 400,000 Units in First Week]

Check out Rocket News 24 to see more pictures and a full recount of their experience.

This story originally published on Mashable here.

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Ex-Elmo puppeteer faces new sex-with-minor allegation

NEW YORK (Reuters) – The puppeteer formerly behind the “Sesame Street” character Elmo faces a new accusation of having sex with an underage boy, a week after a similar allegation prompted him to resign from the iconic public television children’s program.

In a lawsuit filed Tuesday in U.S. District Court in Manhattan, a man identified only as John alleges Kevin Clash engaged in oral sex and other sex acts with him when John was 16 years old. The suit seeks at least $ 75,000 in damages.

The suit alleges the incident occurred in either 2000 or 2001 when John, who is from Florida, visited New York for modeling opportunities. John came to know Clash, then 40, through a telephone chat line for gays on which Clash claimed to be a 30-year-old named Craig, according to the suit.

John returned to New York when he turned 18, and he and Clash renewed the relationship, the lawsuit said.

“Mr. Clash believes the lawsuit has no merit,” Clash’s publicist, Risa B. Heller, said in an emailed statement.

It is the latest charge levied against Clash, now 52, who resigned on November 20 from Sesame Workshop, the company behind “Sesame Street,” after nearly 30 years on the show.

His resignation came the same day Cecil Singleton filed a claim seeking more than $ 5 million in damages from Clash. Singleton claims he met the then-32-year-old puppeteer in 1993 in a gay chat room when he was 15.

It added that on numerous occasions over a period of years Clash engaged in sexual activity with Singleton.

The newest allegation comes about two weeks after another man recanted his claims that Clash had sex with him when he was 16 years old. The man later said the relationship was consensual.

Clash had denied the allegations and acknowledged a past relationship with his first accuser. He added the pair were both consenting adults at the time.

The Elmo character debuted on “Sesame Street” in 1979, 10 years after the show premiered and introduced the now-iconic characters Big Bird, Bert and Ernie, Oscar the Grouch and Cookie Monster, among others, to American children.

While Clash was the third performer to animate the child-like shaggy red monster, Sesame Workshop credits him with turning Elmo into the international sensation he became.

(Reporting by Dan Burns; Editing by Paul Thomasch and Cynthia Osterman)

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Flu Symptoms Drove Boston Mayor to Hospital

When Boston Mayor Thomas Menino ended his vacation in Italy short this fall and checked into a Boston hospital complaining of a respiratory infection, it led doctors to find and treat a blood clot in his leg, a fracture in his back, an infection around the fracture and type 2 diabetes.

Cold and flu symptoms from respiratory infections can be a hassle, but sometimes that fever and cough can be good for just getting people to the doctor.

“That’s why every patient needs a careful evaluation because every once in a while, what the patient thinks is the flu or reports as the flu is not,” said Dr. William Schaffner, chairman of preventative medicine at Vanderbilt University in Tennessee. “I would say 99 percent of people who present to the emergency room and doctor’s office with symptoms of influenza – that is cough, fever and the like – are certainly going to have influenza.”

Click here to read about cold- and flu-fighters.

Menino, 69, arrived at Brigham and Women’s Hospital on Oct. 25, complaining of fatigue and a cough, and doctors described him as “extremely washed out” with some “malaise.” In addition to the respiratory infection, doctors found a blood clot that traveled from Menino’s leg to his lungs.

Respiratory illnesses, like the one that initially drove Menino to seek medical attention, can often range from mild to severe, Schaffner said.

“He was feeling poorly enough to end what was supposed to be a very pleasant vacation, and when he got here, he was very weak and very washed out,” Dr. Dale Adler, Menino’s doctor, said during a press conference in mid-November.

Doctors can usually tell whether flu-like symptoms are the result of a respiratory infection or something else soon after the patient is admitted. If not, they can perform a series of tests to find out.

Click here to read about flu fact and fiction.

(The flu can lead to other ailments, the most common of which is pneumonia, or an infection of the lungs, Schaffner said.

About 1.1 million pneumonia patients were hospitalized and discharged in 2009, according to the latest data from the Centers for Disease Control and Prevention. On average, they stayed in the hospital 5.2 days.)

Weeks later, Menino was still in the hospital. Although his illness and clot had been resolved, he was complaining of back pain, which doctors discovered was the result of a compression fracture and an infection around the fracture.

Finally, doctors discovered that Menino had underlying type 2 diabetes, which may have contributed to the infection, Menino’s doctor said during a press conference on Monday.

It’s not clear how Menino’s initial flu-like symptoms tied into his other ailments, but doctors said they are positive about his prognosis. The mayor relocated to a rehabilitation center on Monday.

“It is a run of bad luck,” Morris said of Menino. “He will rebound from this.”

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Norway Covets Its Neighbors’ Carbon

The fjords of western Norway seem an unlikely place to tackle industrial pollution. But an hour’s drive north of Bergen, the Norwegians recently inaugurated the world’s largest test facility for carbon capture, the process of trapping carbon dioxide before it spews from the stacks of power plants and factories. The Norwegian government spent more than $ 1 billion to build the facility, a tangle of pipes, scaffolding, and cooling towers overlooking the port of Mongstad. Prime Minister Jens Stoltenberg has called it “Norway’s moon landing.”

That’s quite an investment considering the country’s greenhouse emissions are among the lowest in the developed world. But it’s not domestic CO₂ the Norwegians are after. It’s their neighbors’. Beneath the North Sea lie vast reservoirs that have been emptied of oil by state-owned Statoil. “The potential to store [waste CO₂] in aquifers under the sea is enormous,” says Tore Amundsen, the managing director of the Technology Centre Mongstad.

In theory, Amundsen should face no shortage of customers from countries such as Germany and the Netherlands, where plans for underground storage of waste CO₂ have run into opposition from environmental groups. Norway’s oil industry could benefit, too, as the process of undersea injection would force residual oil and gas deposits out of the seabed.

While it’s integral to the fight against global warming, carbon capture has had a slow start. The International Energy Agency says it expects the technology to account for as much as 20 percent of the emissions reductions needed to limit global warming to a maximum of two degrees by 2050. The European Union has promised more than 1 billion euros ($ 1.3 billion) in financing for carbon-capture projects, but with the region’s economy in crisis, national governments haven’t provided the loan guarantees required for the work to go forward.

Yet the need has never been greater, says Jon Gibbins, a professor at the University of Edinburgh specializing in carbon-capture and power-plant engineering. The U.S. is awash in cheap shale gas, while worldwide, coal consumption, led by China and India, has risen more than 50 percent over the past decade. “We’ve got far too much, far too cheap fossil fuel” to ignore carbon capture, Gibbins says.

To jump-start development, the Norwegians have invited companies to try out carbon-capture technologies at Mongstad. The tests are carried out using emissions from a gas-fired power plant that adjoins the facility. French engineering group Alstom (ALSMY), for example, is testing a process in which emissions are sprayed with chilled ammonia to strip out the carbon dioxide.

Even some environmental groups are willing to give carbon capture a chance. “People have rightfully worried that carbon capture is just an excuse” to avoid developing cleaner energy sources, says Mike Childs, head of policy, research, and science at Friends of the Earth in Britain. “While we want to move to a system of 100 percent renewable energy, that will take time.”

Amundsen says the processes being tested at Mongstad would add 30 percent to 50 percent to the cost of electricity generated by a conventional gas- or coal-fired power plant. That’s roughly on a par with wind- and solar-generated power, and Amundsen expects prices to come down sharply as the technology matures. Norway is considering a plan to expand Mongstad from a test site into a full-scale facility that would scrub all CO₂ emissions from the adjacent power plant and a nearby refinery, at an estimated cost of $ 4 billion.

The country can’t import CO₂, though, unless other countries come up with billions to build their own carbon-capture plants and pay the Norwegians for storage. And while existing gas pipelines could be modified to transport carbon at relatively modest cost, burying it under the seabed would be expensive. What’s more, Norway could face competition from the Dutch port of Rotterdam, which has a plan to become a hub for CO₂ transshipment to North Sea storage sites. Rotterdam has the advantage of being closer than Norway to most of Europe’s major industrial regions.

Amundsen is unfazed by these challenges. “Norway has an interest to see that oil and gas remain an important energy source for the future,” he says. “We’re so incredibly rich, we can actually afford to do it.”

The bottom line: A new $ 1 billion carbon-capture plant is the cornerstone of a plan to bury Europe’s waste CO2 beneath the North Sea.

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