Climate policy decisions that can help drive energy investments
January 24th, 2022
The world is searching for ways to reduce emissions, and the right policies can help get us there. Here are three policy decisions that can help us expand research and development efforts, bringing society one step closer to achieving climate goals.
Every technology begins with inspiration – an idea and a vision for a different way of doing something. The next step is research and development – the intensive technical, scientific work that turns an idea on paper into a technology that works in practice. Then, the final step is critical: How do you scale up a technology into something that can benefit millions, or even billions, of people in the real world?
To scale up a technology like carbon capture and storage, enormous capital investments are required. Entire infrastructures must be designed and built, and deployment at an industrial scale is a decades-long commitment. To make the long-term business case for such an investment, stakeholders expect government policies to support the technology as it scales. In order to make carbon capture a reality, three key policy positions are needed.
An economy-wide price on carbon
A technology-neutral approach
A predictable policy landscape
A challenge for technology … and policy
Finding the right policy solutions to support CCS is as much of a challenge as deploying the technology itself. To help make progress on policy, ExxonMobil continues to engage in efforts to encourage sound and constructive solutions.
We respect and support society’s ambition to achieve net-zero emissions by 2050 and continue to advocate for policies that promote cost-effective, market-based solutions to address the risks of climate change.
We’ve broken ground on CO2 storage for customersIn southeast Texas, in a clearing surrounded by farmland, there’s a rig drilling a well for ExxonMobil. Nothing out of the ordinary in an area accustomed to oil and gas operations. But this well is anything but ordinary. And it isn’t for oil or gas operations.
Leading the way to a lower carbon future in Asia PacificAs Asia Pacific undergoes an energy transition that will impact billions, it will require a combination of the right technologies, expertise and passion to achieve a lower-carbon future.
Ask a carbon capture expert: Dr. Prasanna JoshiCarbon capture and storage (CCS) is considered essential to lowering carbon dioxide emissions from industries such as steel, cement, chemicals, and power generation. The vice president for Low Carbon Solutions technologies, Dr. Prasanna Joshi, explains the basics of this proven technology and how ExxonMobil is helping companies implement CCS at scale.
Low-carbon hydrogen: Fueling our Baytown facilities and our net-zero ambitionToday we announced an exciting initiative as part of ExxonMobil’s efforts to reduce greenhouse gas emissions from our operations in support of our net-zero 2050 ambition.
ExxonMobil, Mitsubishi Heavy Industries form carbon capture technology allianceIRVING, Texas – ExxonMobil and Mitsubishi Heavy Industries (MHI) have joined forces to deploy MHI’s leading CO2 capture technology as part of ExxonMobil’s end-to-end carbon capture and storage (CCS) solution for industrial customers.
Labarge: Helium explainedWhile helium helps make party balloons lighter than air, it’s also a critical element for many advanced technologies, like MRIs for healthcare, rockets for space exploration, and microchips for advanced computing.
Few places are as essential to meeting the demand for helium as ExxonMobil’s LaBarge facility in Wyoming, which provides 20% of the world’s supply. With an estimated eight decades worth of helium left to produce there, LaBarge is poised to play a significant role through the end of this century.