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Image courtesy of Carbon Engineering

Occidental Petroleum has teamed up with Rusheen Capital Management to advance plans by Canada-based Carbon Engineering to build a direct air capture plant in the Permian Basin — and eventually facilities elsewhere, too.

Why it matters: It's a step toward building a plant that the companies say would be the world's largest direct air capture (DAC) facility, with the capacity to remove up to 1 million metric tons of atmospheric CO2 annually.

  • Occidental subsidiary Oxy Low Carbon Ventures and Rusheen, a private equity firm, have formed a company called 1PointFive to "finance and deploy" Carbon Engineering's technology in the U.S.
  • More broadly, the new licensing deal with 1PointFive and Carbon Engineering for the Permian plant in Texas is the "first step toward their aspiration to deliver this technology on an industrial scale throughout the United States," they said.

Catch up fast: Oxy and Carbon Engineering first proposed the Permian Basin facility last year.

  • Occidental, a large oil producer that uses injected CO2 to boost output, and Rusheen are existing investors in Carbon Engineering, which has also received funding from Bill Gates, Chevron and others.

Where it stands: DAC is among the nascent negative emissions technologies attracting more attention as a way to help avoid runaway global warming. But that's if — if! — it can eventually be deployed at a major scale (1 million tons annually is a drop in the bucket).

The big picture: A UN-led scientific report in late 2018 concluded that plausible pathways for holding temperature rise to 1.5 degrees Celsius above preindustrial levels require atmospheric CO2 removal methods in addition to steep emissions cuts.

Go deeper: Carbon capture leaders team up on net-zero emissions technology

Go deeper

Ben Geman, author of Generate
Nov 6, 2020 - Energy & Environment

Biden's climate diplomacy would face hurdles

Photo illustration: Sarah Grillo/Axios. Photo: Win McNamee/Getty Images

Joe Biden this week pledged again to immediately rejoin the Paris climate agreement if he wins the presidential election, but ultimately meeting his ambitions for the U.S on the world stage would be much tricker.

Why it matters: Biden would face big challenges and complex decisions after announcing the U.S. is back on the climate diplomacy circuit.

Updated 3 hours ago - Politics & Policy

Omicron dashboard

Illustration: Shoshana Gordon/Axios

  1. Health: Coronavirus variant surveillance varies widely by state — Omicron cases confirmed in 5 U.S. states America probably won't lead the effort to understand Omicron.
  2. Vaccines: Omicron adds urgency to vaccinating world — Omicron fuels the case for COVID boosters — Moderna loses patent battles tied to COVID vaccine.
  3. Politics: Nevada to impose insurance surcharge on unvaccinated state workers — New Jersey GOP lawmakers defy statehouse COVID policy — Oklahoma sues Biden administration over Pentagon vaccine mandate — Omicron travel bans are sign of what's to come.
  4. World: WHO: Delta health measures help fight Omicron — COVID cases surge in South Africa in sign Omicron wave is coming — Germany approves new restrictions for unvaccinated people.
  5. Variant tracker: Where different strains are spreading.

Prosecutors charge parents of Michigan school shooting suspect

Photo: Scott Olson/Getty Images

The parents of a 15-year-old accused of killing four students and wounding seven other people at a Michigan high school have been charged with involuntary manslaughter, according to court documents.

Driving the news: James and Jennifer Crumbley were each charged with four counts of involuntary manslaughter.