credit: BLOCK BY BLOCK/UN HABITAT

Erik Kobayashi-Solomon, founder of IOI Capital, speaks to a strategic investor at Oxy Low Carbon Ventures, the venture capital arm of Occidental Petroleum.

He writes that the strategic investor was "talking about a future integrated carbon market – not a market for oil or natural gas or chemical feedstocks – but a market that would allow companies to make purchases of carbon chain building blocks themselves."

Kobayashi-Solomon adds that the investor acknowledged that the future was a low-carbon or no-carbon one, but that even in a low- / no-carbon world, carbon use would continue to serve an important role.

When Kobayashi-Solomon asked the investor what he thought if the implementation of a carbon tax was necessary, the investor pointed out the "45Q" tax rule, which enables companies engaged in carbon capture to receive a tax credit in a positive way.

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