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Can Big Oil run in reverse?

By KESLS RAM
Can Big Oil run in reverse?
https://www.economist.com/special-report/2024/03/11/can-big-oil-run-in-reverse
from The Economist
Last July ExxonMobil paid $5bn to acquire Denbury, which owns a large pipeline network for getting carbon dioxide to wells that need their recovery enhanced. In August Occidental Petroleum, which is something of an eor specialist, paid $1.1bn for Carbon Engineering, a Canadian startup which has developed technologies to extract carbon dioxide from thin air, a process called direct-air capture (dac). Vicki Hollub, the chief executive of Oxy, as the company is known, has grand plans for this dac technology. Oxy has received a grant from the American government worth up to $600m towards the $1bn-or-more required to build a commercial-scale dac facility in Texas—one capable of removing 1m tonnes of carbon dioxide from the atmosphere every year.

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