Occidental to invest billions entering DAC market

Occidental is betting billions on direct air capture (DAC), a nascent carbon removal technology, through its Stratos project in Texas. However, Occidental's earlier carbon capture facility, Century, offers caution. Despite hype and incentives, Century operated far below capacity for over a decade before being sold at a loss. Its shortfalls demonstrate carbon capture's risks; technical glitches, fluctuating economics, and enabling more fossil fuel output. Century's woes warn against over-reliance as Occidental and others tout carbon capture to justify expanded oil production. Though needed, the technology's history is one of over-promising and avoiding emissions in the first place remains imperative. (Bloomberg News)