Kinder Morgan Wants to Capture This Multitrillion-Dollar Opportunity
Kinder Morgan (NYSE: KMI) currently makes most of its money supporting the natural gas market (64% of its current business mix is natural gas-related). However, the company has a meaningful carbon dioxide segment (10% of its earnings). That business could grow into a much larger future contributor for the midstream giant.
Fueling that view is the potentially massive opportunity for carbon capture and storage, which oil major ExxonMobil (NYSE: XOM) forecasts will grow into a $4 trillion global market by 2050. Here's a look at why Kinder Morgan believes it's in an excellent position to capture a slice of that enormous opportunity.
Carbon capture, utilization, and sequestration (CCUS) could play a vital role in helping reduce global emissions. Current technology can capture the greenhouse gas from emission sources or pull it directly from the atmosphere. The captured carbon dioxide can then be utilized (e.g., for enhanced oil recovery [EOR]) or sequestered underground.
Source Fool.com
