Oil companies have for decades made money by extracting carbon from the ground. Now they are trying to make money putting it back.
Energy giants such as Exxon Mobil Corp. and Royal Dutch Shell PLC are pushing carbon capture and storage—where carbon is gathered and buried underground—as part of a drive to reduce both their own and their customers’ emissions. Executives say the service could become a new source of income when the industry isOil companies have long captured carbon from their operations, albeit mostly to produce more oil.
Last month, Shell, Total SE and Equinor AS A launched a joint venture to store carbon in a rock formation thousands of feet beneath the seabed off the coast of Norway. The state-backed Northern Lights project is set to be the first time companies outside the oil industry will be able to pay to have their carbon gathered and stored., forecasting it could become a $2 trillion market by 2040. Chevron Corp.
Capitalism at work.
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Important thread about batteries and CO2:
A perfect example of thoroughly un- productive commerce.
That's how international freemasonry works ... the ' legal ' side of the mafia ...
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Source: Reuters - 🏆 2. / 97 Read more »