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Exxon Mobil makes a pitch for capturing emissions and a carbon price.
Under growing pressure from investors to address climate change, Exxon Mobil on Monday proposed a $100 billion project to capture the carbon emissions of big industrial plants in the Houston area and bury them deep beneath the Gulf of Mexico.
Exxon, the largest U.S. oil company, wants to create a profit-making business out of the capture of carbon emitted by petrochemical plants and other industries. But its plan would require significant government support and intervention, including the introduction of a price or tax on carbon dioxide emissions, an idea that has failed to attract enough support in Congress in the past. The company already captures carbon, which it injects into older fields to produce more oil. Exxon now wants to use its expertise to store the carbon dioxide generated by other industries. But without a price on emitting carbon, many businesses would have little financial incentive to pay Exxon to capture and store their carbon. The Obama administration failed to enact a cap-and-trade system, which raises costs for polluting companies by forcing them to buy tradable permits to release greenhouse gases into the atmosphere. California, the European Union and 11 states in the Northeast use versions of cap-and-trade. Other governments, including British Columbia and Britain, have imposed a per-ton tax on emissions.
Exxon wants to capture carbon from industrial plants along the Houston Ship Channel and pipe it offshore where it would stored up to 6,000 feet below the Gulf of Mexico. The effort would be paid for by industry and the government, and would eventually store 100 million tons of carbon annually — equivalent to the emissions of 20 million cars, according to Exxon. The company has discussed its idea with national and Texas policymakers and Republicans and Democrats in Congress, Exxon’s chief executive, Darren Woods, said in an interview. “They see the opportunity and appeal of this idea,” he said. “The question is, how do you translate the concept into practice?”
Exxon said its proposal complements President Biden’s climate efforts, but it would require the administration to embrace a price on carbon, something it has not done. “The concept of a price on carbon is critical,” Mr. Woods said. “There has to be a way to incentivize the investment.” Offshore storage has already gained traction in Europe, where governments have put carbon prices in place and lawmakers are more willing to spend taxpayer money to address climate change.
Mr. Woods said that, given the right policies, carbon capture projects could be a major business for Exxon around the world. “The potential for these markets is very, very large to the extent that demand continues to increase to decarbonize society,” he said.
https://www.nytimes.com/2021/04/19/business/exxon-mobil-makes-a-pitch-for-capturing-emissions-and-a-carbon-price.html
Oprah-Backed Oatly Files for IPO
Oatly Group AB has formally filed paperwork Monday for an initial public offering in the U.S., nine months after private-equity giant Blackstone Group Inc. and a handful high-profile celebrities took a stake in the oat milk producer.
The Malmö, Sweden-based company entered the U.S. market in 2017 with its alternative dairy products that have grown in popularity among consumers seeking healthier options with less impact on the environment.
Last July, The Wall Street Journal reported the company had sold a $200 million stake to a group led by Blackstone and included Oprah Winfrey, Natalie Portman, former Starbucks Corp. chief Howard Schultz and the entertainment company founded by Jay-Z. The sale of the roughly 10% stake valued Oatly at about $2 billion. In February, the oat-milk maker confidentially filed for an IPO in the U.S.
The retail value of the plant-based dairy industry in the Americas is expected to hit $7 billion by 2025, according to Euromonitor.
https://www.wsj.com/articles/oprah-backed-oatly-files-for-ipo-11618873268
MC9028 USAF C-40B departed Oahu ne after a ground stop that began on 0416
This AC arrived at Yokota AB, Japan from Hawaii on 0410 as MC9028 and then traveled to Osan on 0413 as SAM028
Departed for Singapore on 0413 and arrived on 0414-this was the one where two AC's were showing MC9028 and SAM028 heading south from Osan sharing the same tail # 01-0041 from about Taiwan on-cap #2
Berry Active State Dept AC
62-4135 USAF RC-135W Rivet Joint setting up off Qingdao, China in the Yellow Sea
Just sayin' herro
Not a usual sight on the scope this
The Rivet Joint's modifications are primarily related to its on-board sensor suite, which allows the mission crew to detect, identify and geolocate signals throughout the electromagnetic spectrum. The mission crew can then forward gathered information in a variety of formats to a wide range of consumers via Rivet Joint's extensive communications suite. The interior seats more than 30 people, including the cockpit crew, electronic warfare officers, intelligence operators and in-flight maintenance technicians. The Rivet Joint fleet was re-engined with CFM-56 engines with an upgraded flight deck instrumentation and navigational systems to FAA/ICAO standards. These standards include conversion from analog readouts to a digital "glass cockpit" configuration. All Rivet Joint airframe and mission systems modifications are overseen by L-3 Communications (previously Raytheon), under the oversight of Air Force Materiel Command.
https://www.af.mil/About-Us/Fact-Sheets/Display/Article/104608/rc-135vw-rivet-joint/