I'm starting to know what New York Times blogger, James Kanter means when he says that real solutions for carbon reduction are far off in the future.  A carbon tax remains the most simple solution and, priced right, would allow business and consumers to decide whether carbon sequestration, reduced consumption or alternative energy sources make the most sense and in what situations. The market is a fantastic allocator of capital.  The market is not so good at providing for the common good of the environment or recognizing economic externalities.

The only oil producer I know of with a serious carbon sequestration program is  the Norwegian Statoil (STO -$32.50), which I own.

Disclosure:  I own STO.  I do not do any personal carbon sequestration.