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ExxonMobil expects carbon capture market to reach $4 trillion by 2050

 Last Update: 2022-05-08
 Source: Internet
 Author: User

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The market for capturing carbon dioxide and storing it underground is expected to reach 4 percent by 2050, Exxon Mobil Corp said in a report on Tuesday.

By then, the oil and gas market will be worth $6.

According to the International Energy Agency (IEA), carbon capture is an important emission reduction technology

Big oil companies have been investing in making carbon capture and storage (CCS) a relevant business as international bodies such as the Intergovernmental Panel on Climate Change (IPCC) see carbon capture and storage technology as key to mitigating the effects of global warming

Exxon has faced public pressure to reduce its overall emissions because its energy transition strategy excludes renewable energy sources such as solar and wind

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