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Exxon sees carbon capture market at $4 trillion by 2050

Reuters · Sabrina Valle · last updated

HOUSTON, April 19 (Reuters) — Exxon Mobil Corp. (XOM.N) estimates there will be a $4 trillion market by 2050 for capturing carbon dioxide and storing it underground, the company said in a presentation on Tuesday. That is about 60% of the $6.5 trillion market the U.S.

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Related Knowledge Center: Carbon capture

State of Play

The federal government is investing heavily in the development of carbon capture and storage (or sequestration), which offers the enticing prospect of preventing carbon dioxide emissions produced during combustion from entering the atmosphere and contributing to climate change. But the technologies involved, while proven, remain expensive, an obstacle to widespread adoption. 

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