As governments and regulators push for a lower carbon future, the race is on to develop carbon capture technology. Even Elon Musk has joined the race, launching a $100 million carbon capture competition. Exxon Mobil has stated this week that there could be a $2 trillion market for carbon capture by 2040. This comes as the company announces a $3 billion investment in carbon capture as well as carbon storage projects over the next five years. Recent investments in new carbon capture technologies by European majors, including BP and Shell, have gained…
