ExxonMobil’s plans to explore carbon capture and storage (CCS) technology through a public-private, multi-user project in the Houston Ship Channel it estimates would cost $100bn or more.

It is pressing for tax incentives or a carbon-pricing system, as well as financial contributions from other companies in the area. While the plan looks to store 50 million tonnes of CO₂ under the Gulf of Mexico by 2030 and double that by 2040, these efforts will do little to ameliorate the decades of unregulated emissions and environmental damage perpetrated by the oil & gas corporation.

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