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Blamed for climate change, oil companies invest in carbon removal

April 7, 2019 by maitreyi.karthik@climate-connect.com

(Source: The New York Times) Chevron, Occidental Petroleum and the Australian mining giant BHP this year have invested in Carbon Engineering, a small Canadian company that claims to be on the verge of a breakthrough in solving a critical climate change puzzle: removing carbon already in the atmosphere.

Investing in Carbon Engineering and other carbon-reduction initiatives is part of an emerging effort by fossil-fuel industries to remain relevant and profitable in a warming world. With electric cars and solar and wind power becoming increasingly affordable, executives acknowledge that business as usual could put their companies at risk. Read full article….

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