Exxon Mobil’s ambitious project to capture millions of tons of carbon emissions along the US Gulf Coast has garnered support from leading energy and chemical companies. Chevron, Phillips 66, Dow, and another eight companies have agreed to start joining the discussion about the project, which aims to store 50 million tons of CO2 by 2030 and 100 million tons in the following decade.
The project would focus on areas around Houston and capture carbon emitted by refineries and petrochemical plants on the US Gulf Coast. The captured carbon will then be stored under the seabed of the Gulf of Mexico. According to Exxon, the project would cost approximately $100 billion and would need significant financial incentives from the government to proceed.
