Big Oil plans to store carbon under the English Channel

illuminem summarizes for you the essential news of the day. Read the full piece on the BBC or enjoy below:

🗞️ Driving the news: Exxon Mobil is seeking approval for the Solent CO2 Pipeline Project, which aims to transport carbon dioxide from the Fawley oil refinery near Southampton to a storage site under the English Channel
• Public consultations on the project will be held across Hampshire and the Isle of Wight from August 7 to September 5

🔭 The context: The Solent area is highly industrial and challenging to decarbonize
• Exxon Mobil's pipeline is part of a broader effort to introduce Carbon Capture and Storage (CCS) technology, which the UK Climate Change Committee deems essential for meeting the country's net zero emissions target by 2050

🌍 Why it matters for the planet: CCS technology can significantly reduce CO2 emissions from industrial processes, contributing to the fight against climate change
• The pipeline could remove CO2 equivalent to taking five million cars off the roads annually, helping the UK achieve its climate goals

⏭️ What's next: The public consultations will gather feedback and inform the approval process for the project
• Successful implementation could set a precedent for future CCS initiatives in the UK and beyond

💬 One quote: “The UK Climate Change Committee acknowledge CCS technology as a game-changer, describing it as a ‘necessity not an option’,” said Michael Foley, UK low carbon solutions venture executive at Exxon Mobil

📈 One stat: The pipeline aims to store "millions of tonnes" of CO2 annually, according to Exxon Mobil

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