Conclave a historic moment for humanity says Vatican spokesman:

(March 13, 2013) The conclave of cardinals is a historic moment for all humanity, said Vatican spokesman Jesuit Fr. Federico Lombardi, in his briefing to the Press on Wednesday.
We are living a beautiful and intense moment that began with the resignation of Pope Benedict XVI, and we feel very emotional as we await the election of a new pope, he said alluding also to the huge crowd of priests, nuns and people filling St. Peter’s Square Wednesday morning, with eyes fixed on the chimney atop Sistine Chapel chimney from which emits black smoke if the conclave result for a new pope is negative, or white, if positive.
Late Wednesday morning, thick black billowed from the chimney, meaning the result was inconclusive, a repeat of Tuesday, the first day when cardinal electors met in the Sistine chapel to elect a new pope. After the stir caused by how much more distinct the black smoke in this conclave has been compared to the past, a reporter asked what causes the black or white smoke. Fr. Lombardi explained that a cartridge containing several chemicals is placed in the stove with electronic ignition, which when burnt with straw and ballot papers gives black or white smoke as required for some 7 minutes.