Exxon is working on tech to remove CO2 from atmosphere but a breakthrough is needed to slash costs
Publishing timestamp: 2024-04-26 15:02:52
Summary
Exxon Mobil is working on direct air capture technology to remove carbon dioxide emissions from the atmosphere. The CEO, Darren Woods, acknowledges that the technology is currently unaffordable, with costs ranging from $600 to $1000 per ton. The goal is to reduce costs to around $100 per ton to make the technology viable on a global scale. Exxon is also involved in carbon capture and storage technology, but these tools are controversial and difficult to scale.
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Keywords: carbon capture, breaking news: markets, exxon mobil corp, business news, energy, oil and gas, markets, climate,