Hi,
This is pyrolysis (heating in the absence of air) and results in gaseous products, tars and a char residue. It is apparently already used in this application on an industrial scale?
http://www.wme.com.au/categories/waste_managemt/feb6_05.phpI'm a bit unsure about the CO2 balance as the liquid product will be used as a fuel and combusted and the remainder have to be disposed of in some way, but I suppose it is recycling and certainly reduces landfill.
I was involved in some work donkeys years ago on pyrolising rubber tyres. It worked well with steel reinforced tyres and we got a liquid oil, carbon black and recovered the steel for recycling. I don't know why it wasn't applied industrially except for being unable to get venture capital at the time. Maybe someone is doing it now.
Don
Quick search, looks like someone is doing it
www.pyreco.com