"We’ve got a long way to go," Swarup admitted.Įxxon’s target is to make 10,000 barrels of these fuels a day by 2025. They are needed to power heavy trucks and airliners - two types of vehicles that can’t easily be electrified. One research aim, he noted, is to reduce CO2 emissions by manufacturing plastics with less energy.Īnother Exxon research quest involves using existing refineries to make biofuels from algae or cellulosic plant materials, potentially resulting in lower carbon emissions, but more energy-intensive liquid fuels. For example, EOR could be used to reduce emissions by permanently storing CO2 safely underground, or by collecting it and later reusing it in a product. In an interview, Vijay Swarup, Exxon’s vice president for research and development, explained how these practices might be shifted to produce lower-carbon energy. It’s a time-honored way to produce more oil by pumping pressurized CO2 into aging oil and gas reservoirs to push more fuel out of the ground. Many of them are tied to technologies that Exxon uses now.Įxxon is substantially involved in capturing CO2, purifying it and using it for enhanced oil recovery, or EOR. "This dual challenge is one of the most important issues facing society and our company."Įxxon brought a portfolio of what it calls "practical solutions" to address the rise in man-made CO2 and methane emissions. "Our mission is to supply energy for modern life and improve living standards around the world while minimizing impacts on the environment," he said. Upon joining OGCI, Exxon’s chairman, Darren Woods, issued a statement that foresaw no immediate diminution of oil or gas production. "The initiative was brand new at the time it was announced," said William Holbrook, a spokesman for Exxon, "and we just felt that we needed more detail on its objectives and the means for achieving those objectives." Two other American majors came with it - Chevron Corp. Ten years ago, Exxon proposed a tax on carbon emissions, but it took until this September for it to join the Oil and Gas Climate Initiative. The group was run by a Washington, D.C., public relations firm and, at the beginning, nearly all of the world’s major oil companies were aligned in it with Exxon.īut as time wore on, and as the advance of climate change became more obvious to investors, GCC’s membership dwindled. It challenged the science behind climate change and opposed action to reduce emissions. In 1992, Exxon, traditionally one of the nation’s most conservative majors, helped organize a very different group, the Global Climate Coalition (GCC). They had some history to wrestle with first. Texas-based Exxon Mobil Corp., one of the world’s largest publicly traded energy companies, had received an invitation but refused to join.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |