Finally made to reckon with the climate crisis, most oil companies are turning to clean-energy technologies. Not Occidental Petroleum. Akshat Rathi talks to Oxy CEO Vicki Hollub to find out why. Under Hollub’s leadership, Oxy became the first US oil company to set a science-based target to reach net zero. The road it has chosen to get there is an atypical one. Rather than reducing oil and gas production, Oxy wants to make net-zero oil by investing heavily in carbon-capture technology. Rathi asks Hollub how exactly Oxy will build out this technology, how it will pay for it, and why she believes her company’s oil is the way to tackle climate change.

Read a full transcript of this episode, here.

Zero is a production of Bloomberg Green. Our producer is Oscar Boyd and our senior producer is Christine Driscoll. Thoughts or suggestions? Email us at [email protected]. 

For more coverage of climate change and solutions, visit https://www.bloomberg.com/green

See omnystudio.com/listener for privacy information.