The International Energy Agency has released a report entitled, “CO2 Capture and Storage: A Key Carbon Abatement Option.” Nobuo Tanaka, executive director of the IEA, said at the release of the study that “[t]he window of opportunity is closing for the global community to cost-effectively address climate change. CCS technologies must play a key role, but first they must be proven in the next decade.” The study calls for a quick and global push to develop CCS as it believes CCS can deliver cost-effective emissions reductions. The study states that current spending levels for CCS are nowhere close to what is needed to meet G8 goals; rather, it states that up to $20 billion is needed for short-term demonstration projects. Tanaka says, “We hope that this study helps governments and industry to take immediate steps to make a major difference on climate change with CCS.”