Ambassador April H. Foley

Remarks a the Eötvös Loránd Geophysical Institute's 100th Anniversary Ceremony 

Budapest
February 28, 2008

Ambassador Foley with Kristóf Kakas, Advisor to ELGI’s Director, at the Eötvös Loránd Memorial Exhibition (full size photo)

Thank you, Professor Törös for that kind introduction and thank you, Director Fancsik, for inviting me to participate in this wonderful event.

Thank you also, Professor Falus, for your fascinating presentation.

Congratulations to the Eötvös Loránd Geophysical Institute on the occasion of its 100th Anniversary. In a world of change, that’s an impressive accomplishment. As we know, ELGI is an internationally-respected research institution with a distinguished legacy of achievement spanning decades.

As U.S. Ambassador to Hungary, it is always gratifying for me to take part in events that underline the scientific cooperation between our two countries.

The United States has been working with ELGI for many years… through the U.S. Geological Survey, the National Science Foundation, and various universities and research centers. One example is the pioneering work on gravity and geomagnetism that ELGI is conducting with the US Geological Survey’s Geomagnetism Research Lab in Denver, Colorado. Another is ELGI’s participation in the "Incorporated Research Institutions for Seismology" (IRIS) consortium funded by the United States’ National Science Foundation. As we look ahead, I hope there will be more opportunities for U.S. and Hungarian scientists to work together.

I would like to say a few words about carbon capture and storage.

I was very glad to hear Professor Falus’s analysis of the potential this approach offers to reduce greenhouse gas emissions. The United States strongly believes there is high potential as well. In the U.S., here in Hungary, or in the fast growing economies of the developing world, the challenge we all face is how to reduce greenhouse gases WHILE economies grow. For developing countries in particular – China, India – rising living standards are critical for the basic welfare of their people. This is not an either/or choice. We must do both – grow our economies and protect our environment.

The rapid development of clean energy technologies is critical to doing both: fuel cells, clean coal, non-fossil fuels, reforestation, energy efficiency. These are the solutions for the future. Carbon capture and storage offer exciting possibilities. Carbon capture and storage technologies have the potential to reduce mitigation costs. And they can increase flexibility in reducing greenhouse gas emissions.

Economic growth is closely tied to energy availability. Fossil fuels will continue to provide the lion’s share of global energy for years to come. Carbon capture and storage offer a way to balance economic development and the environment, retaining fossil fuels in a carbon constrained world without constraining economic growth.

During the Bush Administration, the U.S. Government has spent $37 billion on climate-related science, data assessment, technology, international assistance, and incentives. One part of this huge effort has been the work the U.S. Department of Energy’s National Energy Technology Laboratory has done to advance our understanding of

• CO2 capture;
• geologic and terrestrial storage;
• monitoring;
• mitigation and verification; and
• the economics needed to make this all commercially viable.

The coming years will see:

• large-scale field tests to demonstrate the long-term storage potential of geologic sites;
• new models to calculate carbon uptake from farms and forests;
• and technology commercialization to integrate cost-effective carbon capture systems with fossil fuel power plants.

It truly is an exciting time and one in which, without a doubt, there are tremendous opportunities for cooperation and collaboration.

With that, I will conclude. Thank you again for inviting me to take part in today’s program, and congratulations once more on ELGI’s 100th anniversary.