Bobby Tudor, formerly with Goldman Sachs and founder of energy investment advisor and merchant bank Tudor, Pickering, Holt & Co., told Bloomberg that in order to achieve the Paris climate goals, over $3 trillion a year are needed and most of it must come from taxation.
The recent International Energy Agency report has made clear that the Paris climate goals cannot be achieved without CO2 capturing on a large scale, Tudor said. Exxon has a project to capture 50-plus megatons of CO2 a year, but they won’t do it if it is not profitable. The name of the game is CO2 price. “What will really help is a price on carbon to have a return ... the way it works is people selling their captured CO2 to transport and service companies that ultimately dispose of it.”
