Chevron, Schlumberger, and Microsoft Join for Carbon-Capture Effort

Energy giant Chevron (NYSE: CVX) is joining with oil services company Schlumberger (NYSE: SLB) and Microsoft (NASDAQ: MSFT) to work with green power company Clean Energy Systems for a new bioenergy project in California. The companies say it will "convert agricultural waste biomass, such as almond trees, into a renewable synthesis gas that will be mixed with oxygen in a combustor to generate electricity." More than 99% of carbon from the process will be captured and permanently sequestered by injecting carbon dioxide (CO2) underground into nearby deep geologic formations.