New industry with sale of carbon credits as part of well plugging programs

What is a carbon credit?


The Oklahoma Corporation Commission’s idea of using carbon credits as part of an effort to fund its plugging of thousands of abandoned or orphaned wells, isn’t the only such move in the oil and gas industry.

Take for example, the Houston-based CarbonPath company which also offers a new class of carbon credits or offsets along with the plugging of oil and gas wells. It is among a growing number of firms that pair carbon market financing with oilfield service providers to plug wells and generate carbon credits as reported by Inside Climate News.

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