Emerging Technologies

Exxon Move Reinforces US Early CCS Dominance

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Earns Exxon Mobil
Mark Humphrey/AP

Exxon’s landmark move to acquire carbon capture specialist Denbury Resources is a clear sign of the US’ early dominance in CO2 removal, although some puzzle pieces still need to be clicked into place to flesh out the supply chain and scale up the still-emerging industry. Policy incentives like the Inflation Reduction Act (IRA) likely helped get the $4.9 billion deal agreed, but permitting remains a challenge. With Exxon now leading its competitors on point-source capture and CCS-as-a-service, CCS advocates are hopeful this foreshadows similar moves by other players and sets a clearer course for scale-up.

Carbon Capture (CCS), Low-Carbon Policy, Policy and Regulation
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