Oil giant Occidental wants to remake itself as a climate tech leader in Texas
by Justine Calma from The Verge - All Posts on (#65TKJ)
An oil pumpjack pulls oil from the Permian Basin oil field on March 14th, 2022. | Photo by Joe Raedle/Getty Images One of the biggest oil producers in the US has a new kind of product in its lineup, one that's supposed to clean up the climate pollution that's still coming from its petroleum business. Its plan is to sell customers supposedly green credentials that they can show off to the world. That risks giving polluters a license to keep polluting, critics say, and positions Big Oil as a heavyweight in the carbon removal and trading business.
This is all going down in Texas, where oil giant Occidental recently announced plans for a massive climate tech project. Occidental signed an agreement to lease over 100,000 acres within the historic King Ranch, where it plans to build direct air capture" (DAC) plants capable of filtering millions of tons of...