![]() This is particularly true for these hard-to-decarbonize sectors that have a lot of heat requirements, a lot of heat flow requirements. That is recognized by the International Energy Agency and the Intergovernmental Panel on Climate Change. Society needs all available solutions to meet the Paris goals. As Blommaert puts it, “This is not a question of ‘or’. The company firmly believes the world needs big, bold CCUS projects such as this one if it ever hopes to achieve its Paris Agreement goals. Thus, any plan proposed by “Big Oil” that would have the effect of negating the industry’s emissions profile - and that of other industries, like power generation and chemicals - is to be automatically opposed on principle, even if the plan would create thousands of new jobs and hasten the reduction of atmospheric CO2. Apparently, according to Politico, it’s because it’s being proposed by “Big Oil,” an industry they’re actively trying to kill: “.environmental groups and many Democrats have slammed carbon capture proposals as a climate strategy, saying the only way to permanently reduce greenhouse gas pollution is a wholesale switch away from fossil fuels.” Why does the green lobby “hate” this project? Good question. This opposition was exemplified a Politico story published within hours of Exxon’s announce earlier this week, under the headline “ ExxonMobil’s climate pitch to Biden: A $100B carbon project that greens hate.” That itself presents a huge challenge, especially given that the Biden/Harris administration appears to have de-emphasized support for CCUS, at least in its initial proposal on infrastructure legislation.Īnother big challenge will come from opposition from the green lobby, which seems to just knee-jerk in opposition to any proposal from the oil and gas sector. The plan would also require the creation of a regulatory framework at all of these levels of government in order to be successful. “But we also recognize that there will have to be a lot of other entities involved with making this happen.” “We are well-positioned to take a leadership role in this area,” Powell told me. But even working in partnership with the city, state and federal governments, Exxon believes it is a plan that would of necessity involve many other industry participants besides itself. Exxon’s vision is to source that CO2 from the 50 largest industrial emitters in the Houston area, a plan that would go a long way to helping the city achieve its net-zero carbon goals.
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