“There haven’t been sufficient resources invested in this until now,” said Kurt Waltzer, CEO of the
As these billions of dollars in expanded subsidies are set to flow in large part to oil, gas, biofuel and petrochemical companies, some of their signature projects are posting lackluster results., which Chevron is leading with Shell and Exxon. It is one of the largest natural gas extraction facilities in the world. The companies promised to divert 40 percent of the gas extraction operation’s CO2 emissions into a reservoir more than a mile deep.
to eliminate emissions from its iron ore business by 2030, focusing instead on powering operations entirely on renewable energy.“They promised to get rid of the carbon by shoving it down a hole,” he said in an interview. “So they got their huge project approved. Now that project is happily pumping carbon dioxide out into the atmosphere and the world is worse off because the carbon sequestration didn’t work.
Exxon said in a statement it is spending $400 million to expand the facility so it can trap an additional 1.2 million tons of CO2 to be stored on public land, noting the Bureau of Land Management praised the company’s efforts.
capture
“U.S. has more untapped oil than Saudi Arabia or Russia.”-CNN
Good
Always the same…Big Business manages a way to divert government grants and tax breaks into their stockholders’ pockets instead of using for the intended purposes.
Few years from now, we will be hearing how carbon capture plants are actually just total scams that are a net carbon emitter
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Source: CNN - 🏆 4. / 95 Read more »