ExxonMobil is looking for local, state and federal support to build a $100 billion project that would capture carbon emissions from the largest U.S. petrochemical complex along the Houston Ship Channel and bury them in the Gulf of Mexico.

If the landmark project were to be built, ExxonMobil estimates that by 2030 the initial phase of the carbon capture and sequestration (CCS) project could capture 50 million metric tons/year (mmty) of carbon dioxide (CO2) from the mega refineries, chemical and manufacturing facilities along the Houston Ship Channel (HSC).

The captured emissions, equivalent to taking nearly 11 million vehicles off the road, would be stored up to 6,000 feet below the Gulf of Mexico.

“ExxonMobil believes the United States could establish a CCS Innovation Zone...