Saudi tech chief lauds U.S. carbon tax credit

Fuel plant
Petra Nova, located just south of Houston, is America’s first commercial carbon capture plant. It began operating in April 2017. Photo: Amy Harder / Axios

HOUSTON -- A recently passed U.S. law supporting projects capturing carbon emissions from fossil-fuel facilities will drive development of the technology in America, the top tech officer at Saudi Aramco said Monday at an energy conference.

Why it matters: Government-owned Saudi Aramco is the world’s largest oil company, so the predictions its top executives say hold significant sway in the global oil and natural gas industry. This technology is also considered essential to cutting carbon emissions to the level, scientists say, the world must reach to avoid the greatest risks associated with a warmer world.