Asian Open: Shakeout on Gold Post-FOMC as USD Catches a Bid cityindex.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cityindex.co.uk Daily Mail and Mail on Sunday newspapers.
Report details blistering pace of renewables needed for net-zero eenews.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eenews.net Daily Mail and Mail on Sunday newspapers.
When the CEO of Occidental Petroleum described the company’s future this week, it was clear the company will not be moving away from hydrocarbons.
By 2050, Occidental expects to still be a big oil company, but producing oil and natural gas is not likely to be its biggest source of revenue. Nor will solar or wind.
Several decades from now, Vicki Hollub, the president and chief executive officer of Occidental, predicted that income from carbon capture and storage “will be bigger than oil production revenue.”
During the plenary session for the Unconventional Resources Technology Conference (URTeC) she described how Occidental is scaling up its carbon-capture business, beginning with a facility in the Permian Basin with the capacity to capture 1 million tons of CO