Houston Energy Leader: ExxonMobilâs Carbon Capture Innovation Hub Concept âMajor Step Forwardâ in Energy Transition
HOUSTON (April 20, 2021)Â â The Greater Houston Partnership, the regionâs principal business organization, applauded ExxonMobilâs announcement of the Carbon Capture and Storage Houston Innovation Hub concept.
âThe rapid-scaling of carbon capture and storage technology and infrastructure is critical to the global energy transition to a low-carbon future. The concept unveiled by ExxonMobil for the Houston region is a key milestone in this effort,â said Bobby Tudor, chair of the Partnershipâs Energy Transition initiative and chair, Tudor, Pickering, Holt, and Co. âThe energy transition requires a dual approach that addresses the need to deliver ever-increasing amounts of energy to support a growing, modernizing global population while also achieving net zero emissions to prevent unmanageable impacts from a changing climate. Put simply, ExxonMobilâs commitment to carbon capture and storage here in the Houston region is a major step forward in the transition.â
As the Energy Capital of the World, Houston is at the heart of efforts to transition to a low-carbon future. Â The Greater Houston Partnership, as representatives of the Houston business community, has been committed to positioning Houston as the leader of the global energy transition for several years.
In Bobby Tudorâs speech at the organizationâs Annual Meeting in January 2020, the then Partnership board chair declared, âAs Houston business leaders, we have both an opportunity and a responsibility to lead the transition to a cleaner, more efficient and more sustainable, lower carbon world. There is fantastic business opportunity for us in this effort; itâs necessary and itâs the right thing to do. Houston is about making things happen, and we can lead this energy transition.â
A recent report from the Center for Houstonâs Future and the University of Houston noted the ârecent National Petroleum Council study on the âat-scale deployment of CCUSâ made clear that Houston and Texas offer world-leading advantages because of the unique cluster of industries, geology and business opportunities for not only disposal but commercialization of CO2 as a useful product.â
The global energy transition will be comprehensive and complex requiring enormous investments, innovations, new business models and changing patterns of energy production, distribution and use. The Partnership believes that all forms of energy will be required, including decarbonized oil and gas. Â Alignment between private interests and government policy makers at all levels will be required to support the massive investments required.
The Houston region is positioned to lead the transition and capture value for the region from the changes that will result. Houston is positioned to lead thanks to its deep technical and commercial energy expertise, extensive energy and manufacturing infrastructure, experience in large complex projects and problems, burgeoning innovation ecosystem, and availability of capital. Â It also benefits from an established City of Houston Climate Action Plan and pragmatic, results-oriented relationships across public and private sectors.
Energy Transition Strategy Roll-Out, Global Energy Transition Event â June 29 â July 1, 2021
Key Houston leaders from across multiple sectors have worked together to develop and lead a bold, long-term regional strategy for competing and leading in the global energy transition. Â
The resulting report and regional strategy generated by this work will be presented by the Greater Houston Partnership and the Center for Houstonâs Future at a special event this summer entitled The Future of Global Energy: Houstonâs Role in Leading the Energy Transition, June 29-July 1. Information will be posted at Houston.org/Events when available.
Greater Houston Partnership
The Greater Houston Partnership works to make Houston one of the best places to live, work and build a business. As the economic development organization for the Houston region, the Partnership champions growth across 11 counties by bringing together business and civic-minded leaders who are dedicated to the areaâs long-term success. Representing 1,000 member organizations and approximately one-fifth of the regionâs workforce, the Partnership is the place business leaders come together to make an impact. Learn more at Houston.org.
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