In simple terms, direct air capture - or DAC - sucks CO2 emissions out of the air, to be buried underground or reused in making products such as building materials, agricultural products and fuels, rather than contributing to climate change by lingering in the atmosphere. It is the “flashiest” of carbon dioxide-removal methods, the biggest technological fix, and one that may have the greatest potential to scale up to the enormous needs envisioned by the goals set by the Intergovernmental Panel on Climate Change (IPCC). That is where direct air capture (DAC) comes in. Today, this critical number stands at 420 parts per million - a roughly 50% rise since 1850.Īs this number rises, the added carbon traps heat, causing the Earth to warm to what could be dangerous levels for humans someday.

But then the Industrial Revolution began. Berkshire bought the preferred stock and obtained the warrants in 2019, when it helped finance Occidental's purchase of Anadarko Petroleum.īut aside from being Buffett's pet oil stock, could OXY someday also be known as the energy company that put into place one of the many solutions needed to help fix our planet’s ailing climate?įor thousands of years, the atmospheric concentration of carbon dioxide (CO2) has held steady at or a bit below 280 parts per million. Occidental Petroleum OXY is probably best-known by investors as the oil company where legendary investor Warren Buffett owns a stake in excess of 25%.īuffett’s company, Berkshire Hathaway ( BRK.B) also owns about $9.5 billion of Occidental preferred stock carrying an 8% dividend, plus warrants to buy another $5 billion of Occidental shares at $59.62 each.

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