An article today outlines Exxon plans but once they capture and store it, what can you use if for or is it like nuclear wastes, it has to be stored for eternity??
http://fool.com/
Thanks to higher prices, ExxonMobil (NYSE: XOM) made record profits producing oil and gas last year. However, it sees an even bigger potential profit opportunity in lower carbon energy, including carbon capture and storage (CCS).
Exxon believes CCS could become a multitrillion-dollar market opportunity within the next decade. That leads the company to foresee the potential of generating hundreds of billions of dollars in annual revenue from its CCS investments. Furthermore, they could produce steadier profits for the company than its traditional oil and gas businesses. And that means an investment in ExxonMobil stock could deliver lucrative returns in the coming years.
ExxonMobil is investing in infrastructure to capture, transport, and sequester carbon dioxide. Those investments will enable the company to help customers decarbonize their operations by moving captured carbon dioxide via pipelines to sequestration hubs. It believes CCS could be an enormous commercial opportunity that could fuel exponential growth for its low-carbon solutions platform:
http://fool.com/
Thanks to higher prices, ExxonMobil (NYSE: XOM) made record profits producing oil and gas last year. However, it sees an even bigger potential profit opportunity in lower carbon energy, including carbon capture and storage (CCS).
Exxon believes CCS could become a multitrillion-dollar market opportunity within the next decade. That leads the company to foresee the potential of generating hundreds of billions of dollars in annual revenue from its CCS investments. Furthermore, they could produce steadier profits for the company than its traditional oil and gas businesses. And that means an investment in ExxonMobil stock could deliver lucrative returns in the coming years.
Drilling down into the CCS opportunity
CCS is a process of capturing carbon dioxide emissions from the source or the atmosphere. The captured carbon then moves by pipeline to an underground storage site for permanent sequestration.ExxonMobil is investing in infrastructure to capture, transport, and sequester carbon dioxide. Those investments will enable the company to help customers decarbonize their operations by moving captured carbon dioxide via pipelines to sequestration hubs. It believes CCS could be an enormous commercial opportunity that could fuel exponential growth for its low-carbon solutions platform:
