Big oil is racing to scale up carbon capture to slash emissions but the challenges are immense
Publishing timestamp: 2024-04-06 09:34:29
Summary
Oil and gas companies are investing in carbon capture and storage technology to help heavy industries reduce emissions. Projects like the one at International Paper's mill in Mississippi are receiving funding to demonstrate the viability of the technology. However, challenges remain in scaling up the technology and expanding pipeline infrastructure. The industry is facing criticism from some climate activists who believe carbon capture is being used to prolong the use of fossil fuels.
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Keywords: breaking news: markets, business news, united kingdom, markets, linde plc, schlumberger nv, exxon mobil corp, cf industries holdings inc, environment, amazon.com inc, chevron corp, nucor corp, united states, talos energy inc, international paper co, pollution, baker hughes co, energy,
Source: https://www.cnbc.com/2024/04/06/big-oil-is-racing-to-scale-up-carbon-capture-to-slash-emissions.html