Can Exxon Mobil Actually Reduce Its Climate Emissions?
from NEWS THAT MATTER Hosted by NEWS THAT MATTER
For years, Exxon Mobil was one of the largest publicly-traded companies in the United States. Coming climate legislation may target the core of the oil and gas giant's operation: production and exploration. The company says it will pivot. But the plan relies on capturing carbon from the oil it will keep pumping in the future. Watch the video to see what experts think of Exxon's green economy plans. Oil giant Exxon Mobil, once the most valuable company in the U.S., is fighting for its future. Over the summer, investors forced a change on Exxon’s board. Since then, the company has been speeding up plans for its green economy pivot, which includes carbon capture and storage. Carbon capture is the process of capturing CO2 at its source. Companies can store the carbon dioxide permanently, but it is more profitable and common to use the captured carbon in further fossil fuel production. Congressional researchers say U.S. companies have pioneered the technology worldwide, injecting roughly 68 million metric tons of carbon dioxide back into the ground every year. Exxon Mobil recently announced a plan to increase the amount of carbon it captures from its refineries near Houston, Texas. The company says it has captured 40% of the world’s captured carbon to date. 👉check out other episodes here:https://anchor.fm/world-of-relaxation
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