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Elon Musk Has Another Idea to Help Climate Change

Elon Musk Has Another Idea to Help Climate Change

Musk has spoken often about his vision for a future with less greenhouse- gas emissions. He mentioned it most recently in the context of Tesla’s (ticker: TSLA) goal to deliver 20 million electric vehicles a year in the future.

“Are we really changing the world if we’re not switching out 1% of the global fossil fuel vehicles,” asked Musk on the company’s third-quarter earnings conference call. “I’m not sure that we can make that argument unless we change at least 1% of the vehicles a year. So that’s where the [20 million vehicle] a year comes from. It’s like 1% of 2 billion vehicles, which is the global fleet currently.”

Carbon-capture technology isn’t always front and center in investors’ minds because there aren’t a lot of carbon-capture investments available. Planting trees, which soak up carbon dioxide and emit oxygen in the process of photosynthesis, is one carbon-capture technology, but the scale of global emissions means more techniques are needed.

Global energy giants, including Exxon Mobil (XOM) and Royal Dutch Shell (RDSA), are also investing in carbon capture and storage projects in hopes of reducing the impact from burning oil and other fossil fuels.

Many of the technologies oil companies are investing in seek to grab the carbon dioxide at the point it is generated and pump it back underground. Those technologies add additional capital and operating costs to existing facilities.
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