So Cute!! Big Oil, Mining Invest . . . . MILLIONS Of Dollars In Experimental Carbon Capture Startup

[hatrack]

EDIT

Chevron, Occidental Petroleum and the Australian mining giant BHP this year have invested in Carbon Engineering, a small Canadian company that claims to be on the verge of a breakthrough in solving a critical climate change puzzle: removing carbon already in the atmosphere. At its pilot project in Squamish, an old lumber town about 30 miles north of Vancouver, the company is using an enormous fan to suck large amounts of air into a scrubbing vessel designed to extract carbon dioxide. The gas can then be buried or converted into a clean-burning — though expensive — synthetic fuel.

Investing in Carbon Engineering and other carbon-reduction initiatives is part of an emerging effort by fossil-fuel industries to remain relevant and profitable in a warming world. With electric cars and solar and wind power becoming increasingly affordable, executives acknowledge that business as usual could put their companies at risk.

Already, fossil-fuel companies face a barrage of lawsuits, investor resolutions and regulations prompting them to invest more in clean energy. Advocacy groups are also pressing companies and lawmakers to keep oil and natural gas in the ground by challenging hydraulic fracturing, especially in Europe, and fighting pipelines meant to transport production from Canada’s oil sands.

“This is about recognizing that climate change poses significant risks to all economic sectors,” Fiona Wild, BHP’s vice president for sustainability and climate change, said about the company’s $6 million investment in Carbon Engineering. “Climate change is no longer seen as a fringe issue. It’s a business risk that requires a business response.”

EDIT

https://www.nytimes.com/2019/04/07/business/energy-environment/climate-change-carbon-engineering.html?rref=collection%2Fsectioncollection%2Fclimate

[Kurt V.]

1. Sounds far fetched to me. Reforesting is the best option