June 21st was the first official day of summer and the first week of July has already seen the hottest days on record since temperatures first began being monitored when a modeling system was put in place in 1979. In order to keep global warming from surpassing the threshold of 1.5 degrees Celsius (2.7 Fahrenheit), one of the biggest innovations at our disposal is carbon capture and storage (CCS).
Dr. Jennifer Wilcox, Principal Deputy Assistant Secretary in the Office of Fossil Energy and Carbon Management at the Department of Energy (DOE), told the New York Times in a June 13, 2022, interview, “Deep underground storage of CO2 is not new – the oil industry has been doing it for nearly 40 years through enhanced oil production, which is a commercial-scale activity today. Through this industry, we have gained expertise in safe and secure storage, and the same skills, work force, and expertise will apply for dedicated CO2 storage projects. Similar trapping mechanisms that allowed oil and gas to be formed over millions of years deep underground will ultimately trap CO2 as we work toward reversing the flow of carbon back underground, and we’re working to build out the infrastructure.”
In our cover feature interview with Stephanie Cox, she shares how she transitioned from a 30-plus year career in the oil and gas industry to curate a board portfolio, including sitting on the boards of three companies, each of which is involved in some aspect of the energy transition, including CCS. The energy sector has the lowest number of Russell 3000 companies with more than three board seats held by women, so it is imperative that more women attain these roles to help provide diversity of thought, experience and expertise as we work to solve global warming. Cox generously shares her blueprint for capturing one of those coveted board seats.
We hope you manage to stay cool this summer and, if you’re interested in ways in which you can reduce your carbon footprint, take a look at the United Nations’ Actions for a Healthy Planet.
Oil and gas operations are commonly found in remote locations far from company headquarters. Now, it's possible to monitor pump operations, collate and analyze seismic data, and track employees around the world from almost anywhere. Whether employees are in the office or in the field, the internet and related applications enable a greater multidirectional flow of information – and control – than ever before.