As demand for oil and gas falls and world leaders and businesses pledge to fight climate change, it is possible that major oil industry players could come up with new uses for carbon dioxide, like strengthening concrete or making carbon fiber, which could replace steel and other materials. If they can "crack those nuts, the entire discussion about hydrocarbons changes,” said Ken Medlock, senior director at the Center for Energy Studies. “That kind of change is slow until it’s not. Think about wind and solar, which were slow until they weren’t.” Read more at the New York Times.
Medlock is the James A. Baker, III, and Susan G. Baker Fellow in Energy and Resource Economics.