Oxy Strikes Carbon Credit Deal With Microsoft

Occidental Petroleum has signed a deal with Microsoft for the sale of 500,000 tons in carbon removal credits from a carbon capture facility that Oxy is building in Texas. The Stratos direct air capture facility will have the capacity to suck up to 500,000 tons of carbon dioxide annually, meaning Microsoft will be its single client buying the entire “output”. Microsoft urgently needs to lower its carbon footprint because its AI push is bringing emissions to new records. The company reported a 30% increase in emissions since 2020—and…