What can it do?
In short....everything that a "normal" oil burner can do. But that's not all. The Babington version explained here is more fuel efficient, cost less to build, it burns more types of fuel and is just as save if you build the right controls for it.
It heats water, air, or it can be used to run your melting furnace. You can use it to dry your bio diesel or dry wood chips for your wood, or pellet stove.
You do not need complete automated controls for this Babington burner. It will work just fine without them, but I strongly recommend that you use a least a thermo couple that cuts the power to the waste oil, and air solenoid. In that way you make sure that the burner stops pumping oil and air in case of a flame out.
DO NOT LEAVE THIS BURNER UNATTENDED WITHOUT THIS SAFETY DEVICE!!!!
About CO2 and all the other "bad" stuff coming from the smoke stack I cant say much. I do not have the proper tools or means to measure them, but there is no smoke coming from it and also the flame in very clear. I have run this type of burner for long hours at a time and there is also very little carbon build-up on the differed parts inside or in the flue. Just make sure you run it on the right mix of air and fuel so the flame can get at its hottest and have complete combustion. Then all there is left is a bit of white ash.
You can adjust the air pressure and spray droplet size to accomplish this. Once set to the right mix there is no need to re adjust, and the burner can be restarted with this settings next time.