CO2 sequestering wells

[FarmRanger]

Where does the CO2 come from in CO2 sequestering wells? Is it a byproduct of hydrocarbon burning? If burning is the source of the CO2 in question, is sequestering it down wells really helping anything?
If we take CH4 (methane), or longer chain hydrocarbons, and burn them with O2 from the air, we get CO2 and H20. So, in effect, we take oxygen from the atmosphere, put some of it down the well with the carbon, and leave some of it here on the surface combined with the hydrogen in the form of water.

Sure, the carbon stays down the well, but we put a lot of oxygen in the hole in exchange for hydrogen. In effect we are removing oxygen, in about a 2 to 1 proportion to the amount of carbon sequestered. Is this really a good thing to do, removing oxygen from the atmosphere, and either putting it down a well, or into a water molecule?

Will this process have some future unintended consequences or are the amounts of oxygen lost to the atmosphere small enough to be insignificant? If so, why aren’t the amounts of CO2 released also insignificant? What are the ramifications of removing oxygen from the atmosphere? Why is releasing more CO2 worse than removing O2 from the air?

Is the benefit calculation from this process including public relations goodwill from removing some dreaded CO2 from the atmosphere? If so, then what happens when some environmentalist figures they can make a buck scaring us about the loss of O2 from the atmosphere? Like Wile E. Coyote poking at the rock pile above his head, will someone someday be saying “What in heavens name am I doing?”

[uef]

You are right. Storing CO2 is not the ideal solution. It is just a quick fix to try to curb the allegeged rising level of CO2 in the atmosphere. But it does not matter wether you store CO2 underground or above - unless you split these two elements up you can't use that O2 anyway. And the best way to do that is to errect some of those solar powered O2 factories commonly known as "trees".

[cowdog]

The injection of CO2 into deep formations carries with it its own set of problems and is entirerly unsuited for use in the Alberta basin. Research in Texas has shown that the C02 reacts with salt water to form carbonate acids. These acids dissolve the mineral calcite although the dissolution of this mineral in the formation creates more space for sequestering C02, but here is the problem calcite is the principal component of cement, and cement is what is used to hold the casings of wells in place and what prevents them from leaking. There are currently hundreds of thousands of wells drilled in the Alberta basin many that already have very questionable cement jobs and millions of more wells are already planned, Damaged cement ='s leak ='s migration of gas and commingling of aqifers.
Second problem C02 is not a mine or mineral; therefore whoever is injecting it will have to pay not only surface rent for the well but, also rent for the space it takes up in the landowners land.