The real reason is that oil and gas companies are booming on carbon capture

Two years ago, Oil and Gas Company IINT XIE XIE XI Bought Carbon Capture Startup Carbon Engineering. This transaction was described as a win-win: a climate tech company exited significantly, and a fossil fuel company stepped in a field, which could be appropriate. Billion 150 billion By 2050.

Now, we have a better idea that the chemistry was eager to choose the precious technology: they want to use it more oil.

Previously, the company said it would use technology Turned to zero Its climate effect. Nevertheless this week, on the Call L, CEO Vicky Hollube Tune, COO, said that the injection was CO.₂ In wells to force more oils to increase the production of oil.

“CO₂ There is a technique from the atmosphere that needs to work for the United States, and President Trump knows a business case for this, “Hollube said. The edge was first Report On comments.

Comparison using the Holb₂ In the acquisition of advanced oil in franking, the technique of sending us skyrocketing to the production of oil and gas to us.

But direct air capture, COO by carbon engineering. Technology used to draw₂ From the atmosphere, the metric remains expensive at 600 to $ 1000 per ton. The inflation reduction act, however, provides some significant incentives for using captured co₂ In the recovery of advanced oil re -recovery, up to $ 130 per metric tonne in 2026 if gas is permanently underground. It is not enough to make practice attractive on its own, but with carbon credit sales, accidentally expecting it to turn profits through Decade.

The Trump administration is working to eliminate climate related government incentives, especially inflation. But with the support of companies like Ausidental and like Unholy It is possible that tax credit can withstand.

There is a long and tangled history of carbon capture with fossil fuel companies. They first began pumping oil in small wells in the 1970s, though the CO.₂ Came from underground deposits. In the early 1980s, pipelines began to move from Texas, but the technology was widely used by low oil prices.

Almost a decade ago, NRG Energy took advantage of the rising oil prices to create the country’s first carbon capture facility connected to the coal -powered power plant. Called as Petra Nova, small installation was designed to capture a third of a boiler carbon dioxide and use a CO.₂ To accelerate production in flagging oilfield in the south -west of Houston.

It worked, though not as expected. Production increased from about 300 barrels per day 6,000 barrelsA significant bump but which was half Estimated. In 2020, the NRG closed petra Nova as the oil prices dropped at the beginning of the epidemic and sold it to JX Nippen three years later.

Since then the oil price has been recovered, but the CO. Oil has increased in recovery achievement using₂ Partly unnatural is because gas is not easily available – at least, not enough to increase production of up to 50 billion, which predicts the Holb that the technology will do the unalwed Lock.

Direct Air Capture can easily provide enough₂. Humans are pumping gigatons worth gas in the air, burning the fossil fuel for the last century and half. It is possible that the carbon captured from the air can be used to make oil CarbonThat is, the process of drilling the oil stores more carbon than to publish it, though the concept needs to be studied further.

It is difficult to know whether federal incentives for direct air capture will survive in the next four years. But from all the tax credits of the inflation reduction act, oil companies are attributed to the desire to continue the business as usual.