The use of the term capacity to describe possible geologic storage implies a realistic or likely volume of CO₂ to be sequestered. Poor data quantity and quality may lead to very high uncertainty in the storage estimate. Use of the term "storage resource" alleviates the implied certainty of the term "storage capacity". This is especially important to non- scientists (e.g. policy makers) because "capacity" is commonly used to describe the very specific and more certain quantities such as volume of a gas tank or a hotel's overnight guest limit. Resource is a term used in the classification of oil and gas accumulations to infer lesser certainty in the commercial production of oil and gas. Likewise for CO₂ sequestration, a suspected porous and permeable zone can be classified as a resource, but capacity can only be estimated after a well is drilled into the formation and a relatively higher degree of economic and regulatory certainty is established. Storage capacity estimates are lower risk or higher certainty compared to storage resource estimates. In the oil and gas industry, prospective resource and contingent resource are used for estimates with less data and certainty. Oil and gas reserves are classified as Proved and Unproved, and by analogy, capacity can be classified similarly. The highest degree of certainty for an oil or gas accumulation is Proved, Developed Producing (PDP) Reserves. For CO₂ sequestration this could be Proved Developed Injecting (PDI) Capacity. A geologic sequestration storage classification system is developed by analogy to that used by the oil and gas industry. When a CO₂ sequestration industry emerges, storage resource and capacity estimates will be considered a company asset and consequently regulated by the Securities and Exchange Commission. Additionally, storage accounting and auditing protocols will be required to confirm projected storage estimates and assignment of credits from actual injection. An example illustrates the use of these terms and how storage classification changes as new data become available. ?? 2009 Elsevier Ltd. All rights reserved.