Exxon Calling on Industry and Government to Raise $100 Billion for CCS
Carbon capture storage is essential to meeting the goals of decarbonization and also to acheive the world’s growing energy needs.
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The Houston Ship Channel is home to petrochemical plants, power companies and heavy industries, all of which throw climate-harming emissions into the air.
Exxon Mobil has suggested turning the 50-mile-long channel into a CCS hub. The oil and gas giant is calling on industry and government to jointly raise $100 billion to create infrastructure to capture carbon dioxide at industrial plants, carry it away in pipelines and inject it deep under the floor of the Gulf of Mexico.
Joe Blommaert, president of Low Carbon Solutions at Exxon, spoke with the Associated Press about the plans; read the interview here.
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