Latin America takes early lead in surging carbon capture industry

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By Trey Thoelcke Updated Published
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Latin America takes early lead in surging carbon capture industry

© FabioIm / iStock Editorial via Getty Images

By Michael Molinski

SÃO PAULO (Callaway Climate Insights) — While the rest of the world is building out a new industry called carbon capture, Brazil oil giant Petrobras has been quietly building its own carbon capture facility that has been pumping carbon dioxide back into its offshore oil fields at a rate of 8.7 million tons per year.

That’s about 20% of the world’s current reinjected CO₂ volume.

Carbon capture, utilization and storage, or CCUS, is an emissions reduction technology that can be applied across not only the energy system but also in mining, agriculture, waste management and other industries.

Already a long list of industry leaders like Exxon Mobil $XOM , Occidental Petroleum $OXY , Archer Daniels Midland $ADM , and Air Products $APD are lining up to grab a slice of the market. While the carbon capture market only amounted to $2 billion in 2021, Occidental estimates it will grow to $50 billion a year by 2030.

But the nascent industry is not without its problems and controversies…

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Photo of Trey Thoelcke
About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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