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AI continues to reshape power and energy markets, with even oil giants like Exxon Mobil jumping on board.
Exxon’s New Power Plant Venture
Exxon recently announced plans to construct a power plant for data centers, anticipating a surge in electricity demand in the next decade. The plant, fueled by natural gas, aims to generate over 1.5 gigawatts while capturing and storing more than 90% of its carbon dioxide emissions.
Challenges Ahead for Exxon
While Exxon’s move towards clean energy is commendable, the costs and operational challenges of carbon capture and storage still pose obstacles. With renewable energy gaining traction and dropping in price, Exxon faces tough competition in the evolving energy landscape.
The Future of Exxon’s Power Plant
Despite hurdles, Exxon’s power plant project is set to be completed within the next five years. As the company navigates the complexities of carbon capture technology, the success of this endeavor remains to be seen.
