Lose Carbon, Win Cash

Sir Richard Branson, chairman of the Virgin Group, announced the Virgin Earth Challenge, a $25 million dollar prize to anyone who can develop a method to extract one billion tons of carbon dioxide per year. The world's leading climate scientists have warned that global warming is getting worse, and emissions of carbon dioxide are a major cause.

Contest entries will be judged by Branson, former Vice President Al Gore and numerous climate experts. The contest will stand for 5 years, but if no winner is identified, the contest may be extended. The winner's method must remove one billion tons of carbon dioxide from the atmosphere for 10 years. $5 million will be awarded at the start and the remaining $20 million at the end of the 10 year period.

The Earth cannot wait forever for a solution to global warming. "We need everybody capable of discovering an answer to put their minds to it today," said Branson.