As the world increases its Net Zero and decarbonization efforts, many Energy Transition technologies are being introduced to meet the Paris Agreement’s global temperature targets, an agreement which the U.S has now rejoined. Direct Air Capture (DAC) is one such technology that aims to reduce carbon emissions by removing CO2 from the atmosphere. However, this green-friendly technology has a not-so-green side as well, as it can be used to enhance oil and gas production by injecting the captured CO2 into reservoirs: this method has been used by oil producers for years. In November, Occidental (OXY) announced their Net Zero program, becoming the first U.S. oil major to target the complete decarbonization of operations by 2040 and counteract indirect emissions by 2050. It also affirmed OXY’s commitment to developing a DAC plant. In December, OXY joined forces with United Airlines to specifically remove atmospheric CO2 that comes from sources such […]