"Occidental Petroleum could benefit from bigger subsidies for using carbon dioxide to squeeze more crude from sputtering wells."
"The megalaw that President Donald Trump signed last month includes a raft of provisions to pump up the fossil fuel industry. But one driller with ties to Trump could get an outsize boost: Occidental Petroleum.
That’s because the law increased tax incentives for using captured carbon dioxide to squeeze more crude out of sputtering oil wells or to create low-carbon products like sustainable aviation fuel. When it comes to capturing carbon and using it to extract more oil, Occidental is the industry leader, according to energy analysts and drilling data.
“Since they are the pacesetter, they are the ones best positioned to take advantage of an enhanced tax credit,” Skip York, an energy fellow at Rice University’s Baker Institute think tank, said of the company."
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