The logo for Fitbit appears above a trading post on the floor of the New York Stock Exchange. Google has completed its $2.1 billion acquisition of fitness-gadget maker Fitbit. It’s a deal that could help the internet company grow even stronger while US government regulators pursue an antitrust case aimed at undermining its power. Last week the completion of the acquisition comes 14 months after Google announced a deal that immediately raised privacy alarms.—AP
Using carbon to pump crude oil
Deep in the Permian Basin, America’s biggest oilfield Occidental Petroleum plans to build a facility that it believes could change the way the world thinks about fossil-fuel emissions. The globe’s first large-scale direct air capture plant will remove carbon dioxide from the atmosphere and pump it deep underground, where it will remain for millions of years. The process would essentially be the reverse of what oil and gas companies do today. The goal is to lower emissions of the primary greenhouse gas responsible for global warming — and one day even produce a carbon-negative barrel of oil. But to cover the cost of operating the plant, Occidental will initially use much of the CO2 to push out lucrative oil from underground reservoirs, thereby replacing one pollutant with another. The facility, expected to cost hundreds of millions of dollars, will also need support from tax credits and outside investors to be financially viable.