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Occidental and Climeworks big winners as Biden allocates billions for CO2 removal
CNBC ^ | August 11, 2023 | by Diana Olick

Posted on 08/11/2023 4:51:11 AM PDT by Oldeconomybuyer

KEY POINTS

* The U.S. Department of Energy is investing $1.2 billion in giant vacuums that suck carbon out of the air--an effort to slow global warming.

* The initial funding will create two carbon removal hubs in Louisiana and Texas, run by startup Climeworks and oil company Occidental respectively.

* Funding for two more hubs is expected sometime next year, with the government committing $3.5 billion to this carbon reducing technology overall.

The U.S. Department of Energy is investing up to $1.2 billion in giant vacuums that suck carbon out of the air in an effort to slow global warming.

So-called direct air capture, or DAC, is an emerging technology that has not scaled up enough to make much of a difference in the fight against global warming. That may be about to change.

The money from the Bipartisan Infrastructure Law will now help fund two DAC hub projects, one in Texas and one in Louisiana. They will eventually remove more carbon per year than all of the current projects combined. Once the carbon is trapped, it can be stored underground or used for various other resources, from building materials to agricultural products, even to manmade diamonds.

There are currently 18 DAC projects globally, but these would be the first commercial-scale ones in the U.S.

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: globalwarming; hoax; propaganda; socialism
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1 posted on 08/11/2023 4:51:11 AM PDT by Oldeconomybuyer
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To: Oldeconomybuyer

They are called plants and algae. They misspelled Crimeworks. What a fraud.

But for sale of discussion. Let’s say these work and remove the evyil carbon dioxide from the air meeting the magical ratio. Will these demons get off our backs and let us use gas stoves and drive SUVs?


2 posted on 08/11/2023 4:57:09 AM PDT by Organic Panic (Democrats. Memories as short as Joe Biden's eyes)
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To: Oldeconomybuyer

And how much of that money is going to get laundered back to the bidens?


3 posted on 08/11/2023 4:58:03 AM PDT by fruser1
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To: Oldeconomybuyer

Have they announced how many trees that would wipe out? Science.


4 posted on 08/11/2023 5:01:14 AM PDT by Libloather (Why do climate change hoax deniers live in mansions on the beach?)
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To: Organic Panic

At some point they’ll be selling oxygen to the masses because plants across the planet are dying. Freaking psychos are running the world right now. Sociopathic psychopaths.


5 posted on 08/11/2023 5:01:24 AM PDT by rarestia (“A nation which can prefer disgrace to danger is prepared for a master, and deserves one.” -Hamilton)
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To: Oldeconomybuyer

The Real owners

of Climeworks and Occidental

wouldn’t be Communist China would it ?


6 posted on 08/11/2023 5:08:21 AM PDT by cuz1961 (USCGR Veteran )
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To: Organic Panic

I did contract work for Vintage and Occidental Petroleum 15- 20 years ago.
Oxy was very close to the Gore family. Jr. and Sr.


7 posted on 08/11/2023 5:09:14 AM PDT by Iceclimber58
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To: Oldeconomybuyer

Great. Suffocate plant life.


8 posted on 08/11/2023 5:21:03 AM PDT by MuttTheHoople (The best slaves put their own chains on )
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To: Oldeconomybuyer

10% for The Big Guy.


9 posted on 08/11/2023 5:23:20 AM PDT by dfwgator (Endut! Hoch Hech!)
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To: Oldeconomybuyer

What if it works too well and all plants die.


10 posted on 08/11/2023 5:24:48 AM PDT by Graybeard58 (Celebrating 42 years of sobriety this year, thank you Heavenly Father.)
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To: Oldeconomybuyer

World is being controlled by people who are batshit crazy (and satanic) and who are determined to destroy it under guise of “saving” it. Once they destroy delicate God made balance of nature that sustains this earth- how long will it take for us to die? And how much will we suffer?


11 posted on 08/11/2023 5:25:14 AM PDT by dkGba
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To: Oldeconomybuyer

Somewhere in the future, the last few human scientists find themselves in a desperate rush to grow food to survive.

In their research they discover a censored report that the reason crops have failed world wide is because of a lack of carbon dioxide in the global atmosphere. Researching historical databases they find that governments of the past harvested CO2 from the atmosphere and stored it in locations underground in the northeast and the south.

The scientists are forced to make a decision in a panic. Do they go north or south to dig up the carbon and use it to grow a crop before the coming cold season which will be the last winter for humanity on the planet if they fail. They choose south. They travel for days, reach the location and find only dried up fields. This is where the carbon is suppose to be stored, so they begin to dig.

After many days scientifically solving the technical difficulties of a deep dig they finally strike pipes. With an incredible sense of relief they break open the pipes to extract the sequestered carbon dioxide. But as they do their hope is met with disbelief and confusion. In the pipes they find absolutely nothing.

As the planting season slips from their fingers and the last hope for humanity dies they realize governments around the world never did what they said they were doing. No CO2 was ever removed from the atmosphere. One of the scientists then ask if they never sequestered CO2 then it must have been present all along. If that was true then why couldn’t we grow food?

The group, coming to terms with their demise realize that it was never about carbon at all. It was about the economy the whole time. Governments had killed their economies around the world simultaneously. It was never science. It was the economy, stupid.


12 posted on 08/11/2023 5:30:12 AM PDT by conservativeimage (Divorce the Deep State Peacefully: Become a State National - tasa.americanstatenationals.org)
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To: Iceclimber58

Al Gore...
Yes, you are correct. In fact, as energy czar for 8 years under Clinton, all he did was sell our oil reserves at Elk Hills to his buddies at Occidental. Yes, Al Gore was an oil man.

https://towncriernews.blogspot.com/2007/02/inconvenient-truth-al-gore-hopes-you.html?m=1


13 posted on 08/11/2023 5:31:33 AM PDT by AuntB (Trump is our Ben Franklin - Brilliant, Boisterous, Brave and ALL AMERICAN!)
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To: Oldeconomybuyer

Biden’s Green Deal is the Energy Equivalent of High-Speed Rail. A Trillion Dollar Disaster going nowhere.


14 posted on 08/11/2023 5:34:43 AM PDT by MMusson
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To: Oldeconomybuyer

More “green” companies that the government is giving taxpayer money ($1.2 BILLION) to that will likely be funneled back to politicians and then the companies will go bankrupt. Money laundering at it finest!


15 posted on 08/11/2023 5:35:51 AM PDT by rfreedom4u ("You may all go to hell and I will go to Texas")
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To: fruser1
"And how much of that money is going to get laundered back to the bidens?"

10%.

16 posted on 08/11/2023 5:35:51 AM PDT by Pajamajan (Pray for our was nation. Never be slave in a new Socialist America)
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To: cuz1961

Or a member of the Buden or OBama family?


17 posted on 08/11/2023 5:36:56 AM PDT by redangus
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To: AuntB
Occidental Energy was founded in 1957 by Armand Hammer, a man from a long established leftist family. His father helped the Bolsheviks pawn Tsarist era art and jewelry to help fund the fledgling Soviet Union. Hammer maintained close ties with the USSR, negotiating deals with Soviet dictator Brezhnev. He was the George Soros of his era, helping fund the campaigns of Al Gore and his father, the latter of whom was a business partner of Hammer. Another Senator who benefited from Hammer's generosity was Joe Biden.

It is no surprise that the Democrats give benefits to a company that has been a friend to the Left for over 60 years.

18 posted on 08/11/2023 5:45:49 AM PDT by Wallace T.
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To: Organic Panic

The U.S. Department of Energy is investing up to $1.2 billion in giant vacuums that suck carbon out of the air in an effort to slow global warming.

Gee, what could go wrong?…


19 posted on 08/11/2023 5:50:10 AM PDT by jagusafr ( )
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To: Oldeconomybuyer

Americans suffer as the biden crime family launders Billions of the People’s tax dollars


20 posted on 08/11/2023 5:50:46 AM PDT by no-to-illegals (The enemy has US surrounded. May God have mercy on them. )
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