Can baking soda curb global warming?

CNET News.com reports: "Some scientists have proposed compressing carbon dioxide and sticking it in underground caves as a way to cut down on greenhouse gases. Joe David Jones wants to make baking soda out of it. Jones, the founder and CEO of Skyonic, has come up with an industrial process called SkyMine that captures 90 percent of the carbon dioxide coming out of smoke stacks and mixes it with sodium hydroxide to make sodium bicarbonate, or baking soda. The energy required for the reaction to turn the chemicals into baking soda comes from the waste heat from the factory."

This sounds like a great idea, but I would be uncomfortable using the baking soda extracted from the process.