Companies capture a lot of CO2. Most of it is going into new oil. - eviltoast

Excerpt:

That’s the theory, anyway. But today, the lion’s share of the CO2 captured from industrial processes doesn’t go back into the ground. Instead, 60 percent of it is used to extract more oil, in a controversial process known as “enhanced oil recovery.”

“I think it’s a huge problem,” said Lorne Stockman, research co-director of the advocacy group Oil Change International. “The oil and gas industry has done a very good job of co-opting our climate and clean energy policy.”

For over a decade, the U.S. government has been quietly funding the capture of CO2 that is ultimately used to drill more oil. Some experts and researchers argue that the climate impact is net positive: The oil will be drilled anyway, and the process can help companies learn how to capture CO2 more efficiently. But others say that the government shouldn’t be helping companies sustain more fossil fuel extraction.