> It's nonsense like this that makes a more rational debate around carbon capture difficult.
such a great point and couldn't agree more.
in the US, I'm seeing more ethanol & chemical companies adopting carbon capture right now, not fossil fuel companies. it will be interesting to see how it evolves in the next couple years.
Carbon is definitely not the new oil. My hope is that carbon becomes the feedstock of the future (with a long way to go).
Exxon is an easy target in this but there are many other companies and industries that are working towards carbon capture.
I'm working with ethanol producers, co2 utilization companies, direct air capture, and other capture technology companies to move the carbon management industry forward. Exxon will be a player but not THE player in carbon management.
The article fails to mention that Denbury has several Class VI well permits (these are the wells where CO2 is injected) in areas near Denbury pipelines. Everyone will talk about the Gulf Coast as the strategic reason but Denbury's pipeline in Wyoming will be key to advancing the industry since Wyoming and North Dakota have authority over the Class VI wells today. I've heard estimates of 40 million tons of CO2 storage capacity in one of the Wyoming projects (that's just one of several projects).
Disclosure: I monitor carbon management at https://decarbonfuse.com by tracking the ccus, dac, and beccs projects in North America.
This is an interesting one since it may be more about market timing than technology. Doing a bit more research but it is likely they are getting the valuation based on LCFS (CA) and 45Q (Federal/IRS) carbon capture credits in addition to the potential of displacing jet fuel.
such a great point and couldn't agree more.
in the US, I'm seeing more ethanol & chemical companies adopting carbon capture right now, not fossil fuel companies. it will be interesting to see how it evolves in the next couple years.
> (shameless self plug: I tried to write down my view on the whole CCS issue recently: https://industrydecarbonization.com/news/can-ccs-escape-from... )
subscribed! and you can follow some of the north america projects at https://decarbonfuse.com