Chevron, Exxon, Baker Hughes and SLB are racing to scale up carbon capture and storage across the U.S. as the world races to reach net-zero emissions by 2050. The oil and gas industry is betting that carbon capture and storage will serve a large market of heavy industries like cement and steel that have few good options right now to slash emissions.
A paper mill in a small Mississippi town could help demonstrate whether capturing carbon dioxide emissions and storing it deep underground is a viable path to fight climate change. Chevron's mill in Vicksburg was chosen by the Department of Energy in February to receive up to $88 million in taxpayer funding. If successful, the system would capture and permanently store 120,000 tons of carbon dioxide annually, the equivalent of 27,000 gas-powered cars, according to the companies behind the projec