Daily on Energy: Carbon capture industry sees huge boost within reach Print this article
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THE PROMISE FOR CARBON CAPTURE: A top advocate of carbon capture, removal, and storage technologies says President
Joe Biden’s infrastructure plan could offer the industry the long-term certainty it needs to take off.
Biden is outlining the first comprehensive agenda that would both support carbon capture project deployment and finance the buildout of the pipelines needed to carry captured carbon dioxide to where it can be stored underground.
Oxy CEO opposes carbon tax plans, in contrast to API and rival operators By Kevin Crowley on 4/6/2021
Occidental Petroleum Corp. CEO Vicki Hollub
HOUSTON (Bloomberg) Occidental Petroleum Corp. split with some of its larger rivals in rejecting a U.S. carbon tax, preferring the existing system of tax credits designed to encourage oil companies to store carbon dioxide and reduce emissions.
âA carbon tax would be bad for a lot of the industry, a carbon tax would be bad for the consumers and especially for those consumers who are more disadvantaged from an economic standpoint,â Occidental Chief Executive Officer Vicki Hollub said at a conference hosted by Texas Independent Producers & Royalty Owners Association Tuesday. âA carbon tax is not what weâre pushing at all.â
Occidental Petroleum Corp. split with some of its larger rivals in rejecting a U.S. carbon tax.
(Bloomberg) Occidental Petroleum Corp. split with some of its larger rivals in rejecting a U.S. carbon tax, preferring the existing system of tax credits designed to encourage oil companies to store carbon dioxide and reduce emissions.
“A carbon tax would be bad for a lot of the industry, a carbon tax would be bad for the consumers and especially for those consumers who are more disadvantaged from an economic standpoint,” Occidental Chief Executive Officer Vicki Hollub said at a conference hosted by Texas Independent Producers & Royalty Owners Association Tuesday. “A carbon tax is not what we’re pushing at all.”
Mixed Reaction from Natural Gas, Oil Industry as $2T Biden Infrastructure Plan Targets Decarbonization, Taxes
President Biden’s $2.25 trillion American Jobs Plan has generated mixed reactions from the fossil energy industry, as Biden is asking Congress to raise corporate taxes in order to accelerate the clean energy transition.
The jobs and infrastructure package underscores the “whole-of-government” approach Biden is taking toward climate and energy policy, a shift from previous administrations.
Natural gas and oil industry groups praised the plan’s objectives, such as the expansion of incentives for capturing and storing carbon dioxide (CO2), but said the administration should be clearer about how hydrocarbons fit into Biden’s “Build Back Better” mandate for infrastructure and the economy.
Biden Plan Gets Mixed Review from Oil Groups rigzone.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from rigzone.com Daily Mail and Mail on Sunday newspapers.