Occidental(OXY) broke ground on their carbon capture plant last week in West Texas which is the first of five planned projects. This substack in the past covered, with scrutiny, the planned build with some details related to the lack of investment in the local community through Texas 313 tax abatements
Any thoughts on NET Power (going public via RONI SPAC), gas-powered electricity technology with carbon capture? Oxy already owns a substantial stake in the private company and just announced that they are increasing their investment commitment in the SPAC to $350 million. The first commercial plant isn't due for completion until 2026, but it would appear that Oxy views this technology as an important part of their decarbonization plan.
Any thoughts on NET Power (going public via RONI SPAC), gas-powered electricity technology with carbon capture? Oxy already owns a substantial stake in the private company and just announced that they are increasing their investment commitment in the SPAC to $350 million. The first commercial plant isn't due for completion until 2026, but it would appear that Oxy views this technology as an important part of their decarbonization plan.
https://netpower.com/net-power-and-rice-acquisition-corp-ii-announce-upsized-pipe-commitments-from-occidental-and-rice-family/