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Zero: The Climate Race
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Oil Companies' Spending on Carbon Capture and Sequestration
The amount of money that US oil companies shifted into renewables last year. $32 billion is the total amount of money spent by oil majors on low carbon investments in 2022. Even though this number has gone up quite a bit in recent years, as a share of the total spend on the energy transition, it has remained static since 2018.
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