Occidental Petroleum's Carbon Capture Facility

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Carbon capture projects

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A Houston oil giant is pioneering a new climate technology. It’s a costly gamble

Summary

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83% Informative

Occidental Petroleum aims to start sucking climate-warming carbon dioxide from the air and storing it underground next spring .

Project is part of a global race to engineer a way out of a climate crisis by removing CO2 from the atmosphere.

Driving the effort are tax credits included in the Biden administration’s Inflation Reduction Act , as well as growing demand from big tech companies such as Google and Microsoft , which are searching for ways to offset their growing carbon footprints.

Oxy faces an uphill battle with the high cost associated with the process.

The concentration of carbon dioxide in the air is so low that it raises questions about the facility’s financial feasibility.

There are risks, too, with ensuring the gas will stay in place once injected underground and that it won’t migrate underground.

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semi-formal

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English

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Offensive language