Carbon Capture: Exxon is buying its way into the energy transition

Carbon capture is the centerpiece of Exxon’s climate-related efforts primarily because unlike renewable energy, which competes with oil and gas, capturing carbon complements Exxon’s core business and thereby may extend its lifespan. Its $4.9 billion acquisition of Denbury Inc is also useful for the Inflation Reduction Act’s carbon capture credits, which effectively provide Exxon with extremely patient venture capital

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