COP28: Exxon Mobil CEO rebuffs IEA criticism of carbon capture method

DUBAI: Exxon Mobil CEO Darren Woods on Saturday declined the International Energy Agency’s current claim that utilizing wide-scale carbon capture to combat environment modification was an implausible “impression”, stating the exact same might be stated about electrical cars and solar power. “There is no option set out there today that is at the scale to fix the issue,” Woods informed Reuters on the sidelines of the COP28 environment top in Dubai. “So, you might state that about carbon capture today, you might state that about electrical cars, about wind, about solar. I believe that criticism is genuine for anything that we’re attempting to do, to begin with,” he stated. While couple of commercially feasible carbon-capture tasks exist due to high expenses, EVs now comprise about 13% of the international brand-new lorry market, and solar and wind implementations have actually been broadening quickly. Woods’ look marked the very first time a CEO of nonrenewable fuel source giant Exxon has actually gone to among the yearly U.N.-sponsored environment tops, and showed a growing effort amongst oil and gas business worldwide to modify themselves as part of the option to worldwide warming, rather than a cause. The future function of carbon capture innovation and nonrenewable fuel sources is a crucial concern at the conference. The IEA, the West’s energy guard dog, provided a report on Nov. 27 simply ahead of the COP28 event that stated the nonrenewable fuel source market was dealing with a “crucial moment” where manufacturers needed to pick in between deepening the environment crisis, or moving to tidy energy. It knocked oil and gas business that argue drilli
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