The growing number of solutions aimed at addressing our warming planet is inspiring, but it is still important to be wary of greenwashing, especially from companies that profit off of traditional dirty energy sources.
What's happening?
ExxonMobil has been promoting carbon capture and storage (CCS) as a major focus of the company for the last several years, reported the Guardian. However, not only is the company's use of CCS being used to increase its production of dirty energy, but it has also been using its wealth and political lobbying power to ensure that bills like the Inflation Reduction Act subsidize its work, per the Guardian.
CCS captures some carbon out of the air and then stores it indefinitely underground. Yet, most captured carbon in the U.S. is used to continue oil extraction, which is then used for dirty energy in a process called Enhanced Oil Recovery, as explained by the Department of Energy. Further, many forms of CCS equipment operate on fossil fuel themselves and often require large quantities of water, which both detract from how much benefit they can provide.
Adding on to this, Exxon has played a significant role in swaying policymakers to build in financial benefits for CCS technology in U.S. legislation. Starting in 2018, Exxon "employed an army of lobbyists," spending $54 million on lobbying efforts to secure subsidies for their CCS work, per the Guardian.
Exxon's lobbying was successful, as the company received money from an allocated $12 billion fund for carbon management research out of the 2021 bipartisan infrastructure bill, as well as almost doubling the cost per ton subsidy for CCS thanks to the Inflation Reduction Act, per the Guardian.
"Oil companies that make billions in profit don't need public subsidies," Catherine Mitchell, IPCC expert on climate mitigation, stated to the Guardian.
Why is Exxon's interest in carbon capture and storage concerning?
CCS is a well-intentioned technology that seeks to reduce the amount of carbon in our atmosphere. However, in the case of Exxon, CCS is becoming a tool it uses to increase its dirty energy production while simultaneously promoting a "green" facade.
For example, Vox reported that Exxon doesn't even sequester most of the carbon it captures, pointing to the operations of its LaBarge Shute Creek gas facility in Wyoming.
"According to Exxon's own disclosures and an analysis conducted by IEEFA in 2022, only around 3 percent of the carbon captured there (roughly 6 million tonnes) has been permanently sequestered underground," Vox's Amy Westervelt wrote. "Of the rest of the 240 million tonnes of carbon emitted over the facility's first 35 years in operation, half has been sold to various oilfield operators for enhanced oil recovery, or EOR — a process by which oil companies inject carbon underground to get more oil out — and approximately 120 million tonnes has been vented into the atmosphere."
Exxon began to advertise its commitment to a "low-carbon future" in 2018. Yet, since then, it has continued expanding its oil and gas production, reported the Guardian. Considering this, Exxon's commitment to a "low-carbon" future begins to look more like a deception tactic used, while behind the scenes, it's benefiting from public subsidies that help fund further dirty energy production.
"I couldn't imagine a greater perversion of the incentive structure. We need to be subsiding solutions to the climate crisis, like clean energy, not causes, like fossil fuels," stated Michael Mann, one of the world's leading climate scientists, to the Guardian.
What's being done about dirty energy?
Two things that can be done to counteract the work of companies like Exxon are investing in clean energy sources and supporting companies that are dedicated to making real positive changes.
Clean energy sources, like solar, are becoming more accessible and affordable than ever, and by switching to these energy sources, reduce demand for dirty energy. This goes along with many other ways you can reduce dependency on oil and gas and instead use clean energy.
Secondly, many companies are making sustainability promises that are legitimate, and you can use your money for good. Focus on smaller companies that value circularity. For example, fast fashion brands use massive amounts of dirty energy for production and transportation, as opposed to eco-friendly clothing brands.
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