Exxon is not known for being a friend to the environment, but for the past couple of decades they have been researching and implementing carbon capture and storage technology. Now, they're investing $170 million towards furthering what they've already accomplished.
The oil company will spend $70 million on a project to capture six million metric tons of emissions per year at their La Barge, Wyo. natural gas plant, two million more tons than they are already capturing every year. Another $100 million will be spent testing new technologies for removing carbon from natural gas by 2010.
Now this doesn't make them heroes. They still do enough damage to negate the good and carbon capture and storage is still controversial, but this does put them way ahead of other companies who will be clamoring for the same technology if the new administration puts a price on carbon emissions. Also, they could spend more. This is Exxon. If they wanted to invest in capturing all of the emissions they produce, they probably have the money to do it. But ultimately, if carbon capture and storage turns out to be truly viable, their research could end up helping in the fight against climate change.
written by Anna, January 11, 2009
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