ExxonMobil CEO Woods: Low Carbon business has the potential to outperform its legacy oil and gas business.
Lierop argues that carbon pricing, Carbon Capture, Utilization and Storage technology and policies need to be such that capturing, repurposing or permanently storing carbon dioxide becomes more profitable than emitting it into the atmosphere. If policymakers were to price CO2 at $100 per ton, the 40 GT of CO2 that the world emits annually represents a $4 trillion opportunity for carbon capture firms.
Beneficially used captured CO2 or its precursor carbon monoxide as a feedstock to produce fuels, chemicals, and products such as concrete in a way that results in emissions reductions as defined by federal requirements. Still, that might be too low to encourage carbon capture firms whose breakeven point is higher than $50/ton. Coupling 45Q with a Fee and Dividend system could be a more effective solution. This system is currently under consideration in the U.S. House of Representatives
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