What do you think about using carbon dioxide as a new raw material?

“Bayer is taking a new direction in the production of high-quality plastics with the help of carbon dioxide (CO2) from the energy sector. A pilot plant has come on stream at Chempark Leverkusen, Germany, to trial the new process on a technical scale. The plant produces a chemical precursor into which CO2 is incorporated and then processed into polyurethanes that are used in many everyday items. As a result, CO2 – a waste gas and key contributor to climate change – can now be recycled and used as a raw material and substitute for petroleum. The innovative process is the result of the “Dream Production” project; a collaboration between industry and science. Bayer is working on the project with the energy company RWE, which supplies the CO2 used in the process. Polyurethanes themselves also help to reduce energy consumption and protect the climate. When used to insulate buildings from cold and heat, they can save approximately 70 times more energy than is used in their production.”

http://urethaneblog.typepad.com/my_weblog/2011/02/bayer-co2-urethane-pilot-plant.html

Sounds too good to be true?

Does this approach have the potential to kill carbon dioxide capture and storage projects? Selecting geologically stable sites for long-term carbon dioxide storage is very controversial.

Any thoughts?