The oil industry is actively exploring the potential of capturing carbon dioxide (CO2) directly at their wellsites, according to the American Petroleum Institute's (API) Senior Vice President, Howard Meyer. This environmentally-conscious shift aims to mitigate the industrial carbon footprint and combat climate change. Meyer suggests that if state authorities permit, this technology could be applied across numerous sectors, proliferating its positive impact on the environment.
1. The oil industry is looking into the option of capturing carbon dioxide (CO2) directly at well sites, according to the Senior Vice President of the American Petroleum Institute, Howard Meyer.
2. This environmentally-conscious shift is targeted at reducing the industrial carbon footprint and helping to tackle climate change.
3. If state authorities give their consent, this technology could be used across many sectors, multiplying its positive effect on the environment.
4. The permission from state authorities for companies to apply this technology can significantly increase the potential for businesses to reduce their carbon footprint.
5. By capturing CO2 directly at the wellsite, it could lead to substantial improvements in sustainable practices in the oil industry, potentially driving the industry towards achieving environmental goals faster.
Approximately 37.1 billion tons of carbon dioxide were emitted globally in 2019, according to the Global Carbon Project.
State authority granting companies the ability to apply technology to other elements of their operations cannot be overstated. It opens up numerous opportunities for businesses to reduce their carbon footprint more extensively. By capturing CO2 right at the wellsite, significant advancements can be made towards more sustainable practices within the oil industry. Meyer emphasized that such measures could revolutionize and drive the industry towards achieving environmental goals faster.