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Exxon Mobil makes a pitch for capturing emissions and a carbon price. Exxon wants to capture carbon from industrial plants along the Houston Ship Channel and pipe it offshore.
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Exxon, the largest U. But its plan would require significant government support and intervention, including the introduction of a price or tax on carbon dioxide emissions, an idea that has failed Loxt attract enough support in Congress in the past. The company already captures carbon, which it injects into older fields to produce more oil. Exxon now wants to use its expertise to store the carbon dioxide generated by other industries.
But without a price on emitting carbon, many businesses would have little financial incentive to pay Exxon to capture and store their carbon. The Obama administration failed to enact a cap-and-trade system, which raises costs for polluting companies by forcing them to buy tradable permits to release greenhouse gases into the atmosphere.
http://pinsoftek.com/wp-content/custom/life-in-hell/what-is-critical-theory-in-communication.php California, the European Union and 11 states in Stor Northeast use versions of cap-and-trade. Other governments, including British Columbia and Britain, have imposed a per-ton tax on emissions.
Exxon wants to capture carbon from industrial plants along the Houston Ship Channel and pipe it offshore where it would stored up to 6, feet below the Gulf of Mexico.
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The effort would be paid for by industry and the government, and would eventually store million tons of carbon annually — equivalent to the emissions of 20 million cars, according to Exxon. Woods said. Woods said that, given the right policies, carbon capture projects could be a major business for Exxon around the world.
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