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Started By
Message
re: Occidental Petroleum buys carbon air capture tech firm for $1.1 billion
Posted on 8/16/23 at 7:19 pm to Tigerbythetale
Posted on 8/16/23 at 7:19 pm to Tigerbythetale
quote:The issue with that is the trees are doing it for free
Plant life requires CO2 to exist/ grow/ thrive.
Why do environmentalists fail to understand this most basic principle of agronomy/ science.
Plant life absorbs C02 and transforms it to 02.
That is all the capture nature requires
0
Posted on 8/17/23 at 4:06 am to ragincajun03
quote:
Wasn’t that the main reason for the acquisition?
It was.
quote:
But what have been the efficiency gains in the Permian?
The word "efficiency" doesnt belong anywhere near a sentence when discussing Occidental
Posted on 8/17/23 at 6:10 am to im4LSU
I’m failing to understand the economics here. You purchase a company for $1.1 bil, are you telling me the tax credits are worth MORE than that so they somehow make a profit on the tax credits? A write off is still an expense, you can’t just write off $1.1 bil and lose money and come out ahead?
Posted on 8/17/23 at 8:25 am to BobABooey
quote:
From the same company that brought you Love Canal.
That was Hooker Chemical, which was purchased by Oxy.
Try harder
Posted on 8/17/23 at 12:17 pm to ragincajun03
It isn't just carbon capture but technology to turn carbon dioxide into carbon monoxide.
Posted on 8/17/23 at 12:26 pm to Flightnclouds
quote:
China said they are going to keep buying our land and kicking our arse while we focus on hocus pocus and trans rights.
The thing about foreign entities owning land in another country is that said country can always just take it back.
Posted on 8/17/23 at 2:57 pm to SlimTigerSlap
quote:
The thing about foreign entities owning land in another country is that said country can always just take it back.
German companies owned all of the ammonia plants and air separation plants in the USA pre WWII
Posted on 8/18/23 at 3:20 am to baldona
quote:
I’m failing to understand the economics here.
Its oilfield economics, dont try to understand it. I guarantee you the incentives they are looking at with this are well worth it.
Disclaimer: I honestly could not give less of a frick. I keep this bitch floating, and they send me a check. Thats the extent of my give a frick about their "carbon capture".
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