Occidental Petroleum is seeking to sell credits in California’s transportation carbon market to help finance the construction of what would be the world’s largest industrial carbon dioxide removal plant.
Companies that were found to have emitted the most air pollutants in 2017 in Texas are in some cases pinning the blame on Hurricane Harvey, as well as unique one-time plant upsets and maintenance.
Few pipelines are available to move the carbon captured from industrialized areas such as the Houston Ship Channel to remote oil fields where it can be used and stored underground.
Shareholders want oil companies to show they care about climate change
Shell and BP annual meetings demonstrate the shifting priorities of investors and the wider industry should take note.