An international agreement that regulates the dumping of waste into the world’s oceans has been amended to allow carbon dioxide from coal-fired power plants to be pumped beneath the sea floor. Australia led the effort to change the London Convention to permit carbon storage, or geosequestration, as a way to combat global warming. "These technologies are relatively new but have enormous potential to help the world reduce its greenhouse gas emissions," said Australian environment minister Ian Campbell Friday in a statement. Australia, of course, has refused to sign the Kyoto Accord and holds vast coal deposit. In fact, 86 percent of the country’s electricity is produced by coal-fired plants. Some environmentalists oppose geosequestration, saying the risks are too high and it does nothing to reduce the planet’s reliance on coal and other greenhouse gas-emitting fossil fuels.
Global Warming Solution? Carbon Dioxide to be Pumped Under the Ocean Floor
November 3, 2006 by Todd Woody
Green Wombat 
I agree that it might not reduce our dependence but it is step in the right direction.
I have to wonder about the costs of this approach versus remaining committed to alternatives such as solar or windpower. Also, with geologic instabilities would it not be possible that the CO2 could later be released.
Global Warming is such a hoax!!!!