The carbon capture business
BP Plc (BP/) part-funded an emissions project at a Texas cement plant, betting that plans to turn the gases into chemicals for sale will succeed where traditional carbon-capture proposals have failed.This is one way to deal with the product, but I think the most effective and cost efficient way is to use the CO2 in the fracking process. It should be cheaper and save water resources in areas where water is scarce. Some studies have shown it to be the cheapest way to extract the tight oil from the rock formations. It would also create a dilemma for the anti energy left. For the oil and gas business it would be a shrewd political move too.
BP, Cenovus Energy Inc. (CVE) and other investors in developer Skyonic Corp. pledged a total of $128 million, Skyonic Chief Executive Officer Joe Jones said in Austin, where the company is based. It plans to trap 83,000 metric tons of carbon dioxide a year from Capitol Aggregates Inc.’s plant in San Antonio.
Skyonic expects to profit from global efforts to curb industrial emissions by trapping and “mineralizing” CO2 into byproducts such as hydrochloric acid and baking soda. While countries including the U.S. and Britain have sought to capture carbon from power plants for burial underground, such projects are yet to operate on a commercial scale.
“It signals to the whole world that we have another alternative for carbon capture besides the pipeline-it-and-pump-it-in-the-ground solutions that have failed to take off,” Jones said in a telephone interview.