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With Big Oil Declining, Carbon Removal Could Take Its Place – Bloomberg

Transitioning away from fossil fuels won’t be enough to slow climate change. The world has delayed the task of cutting emissions for so long that we likely will have to also deploy solutions to draw down carbon dioxide from the air.

With the right regulations and incentives in place, the carbon removal industry could soon be bringing in as much revenue as today’s oil and gas sector, according to a new study. In the near term that means more money going toward natural ways of drawing down carbon, e.g. tree-planting and preservation of areas such as peat bogs and mangrove forests. Eventually we’ll see the rise of technologies such as direct air capture or enhanced rock weathering, which aren’t yet ready or cheap enough to be deployed at scale.

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