BNEF Brief: Oil Companies Bury Emissions of 20 Million Cars in Texas

The video discusses the growing role of oil companies in carbon neutrality, focusing on Occidental's efforts to become carbon neutral and eventually carbon negative through CO2 sequestration. Vicki Hollub, CEO of Occidental, highlights their international initiatives and technical assistance to others. Anastasia Dialysis from Bloomberg explains carbon capture and storage, particularly enhanced oil recovery, where CO2 is injected into oil reservoirs to extract more oil while trapping CO2 underground. The video also covers the industry's adoption of this technology, with companies like EOG exploring its use in shale rock.

What is Occidental's ultimate goal in terms of carbon emissions?

• To become carbon neutral and eventually carbon negative

• To increase oil production

• To expand internationally

• To reduce operational costs

What is the primary purpose of injecting CO2 into oil reservoirs?

• To reduce the cost of oil extraction

• To dissolve the oil and enhance its flow

• To increase the temperature of the reservoir

• To create new oil reservoirs

What is a byproduct of ethanol production that is used in carbon capture?

• Nitrogen oxide

• Methane

• Sulfur dioxide

• Carbon dioxide

Which company is mentioned as a leader in carbon capture and storage?

• Shell

• ExxonMobil

• Occidental

• Chevron

What new area are companies exploring for carbon capture techniques?

• Desert sands

• Mountainous regions

• Shale rock

• Deep-sea drilling