Could adding iron to the oceans help reverse climate change?

It’s long been thought that carbon dioxide could be taken from the atmosphere by encouraging algal blooms, which absorb CO2. This might be possible by adding iron to oceans, a lack of which often prevents blooms getting bigger. Could this sort of geoengineering work and what might the implications be?

http://news.bbc.co.uk/1/hi/sci/tech/7856144.stm

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