Exxon Proposes $100 Billion Carbon Capture Project

Exxon has announced an ambitious carbon capture and storage project that could see the removal of 100 million tons of carbon dioxide annually by 2040. Dubbed the Houston Ship Channel CCS, the project will require the participation of both public and private entities. It will also require investments to the tune of a staggering $100 billion to capture carbon dioxide emissions generated by petrochemical plants and storing them below the Gulf of Mexico. “We could create an economy of scale where we can reduce the cost of the carbon dioxide mitigation,…