Exxon Mobil predicts that by 2050, the market for carbon capture and sequestration will be worth US$4 trillion, according to a presentation given on Tuesday.
Carbon capture and sequestration involve capturing carbon dioxide from fuel combustion or industrial processes, transporting it by ship or pipeline, and storing it underground in geological formations or using it as a resource for product development.
As pointed out by the International Energy Agency (IEA), carbon capture is an important technology which could contribute to a 19% reduction in global carbon dioxide emissions by 2050.
