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How CarbonPath is Plugging Up Oil Wells to Create Carbon Credits

Meet Sam

Podcast Summary

Sam Arnold, Founder and CEO of CarbonPath, is taking a new approach to carbon credits. The company’s novel carbon offsets trading platform provides incentives for the oil and gas industry to plug and abandon low-producing wells, cutting off the release of fugitive methane. Their unique approach doesn’t just account for emissions as an afterthought – greenhouse gases are stopped at the source from ever entering the atmosphere.

In this episode, Sam talks about how his career in oil and gas led him to create CarbonPath and the massive opportunity he sees in the carbon credit market:

  • According to Sam, the U.S. has roughly 4 million oil and gas wells, but only 800,000 are currently active. Of those, over 500,000 are producing less than 15 barrels a day. This vast distribution of wells is providing only 5% of the country’s oil and gas, and yet is responsible for 75% of all fugitive methane emissions. CarbonPath’s goal is to shut down these low-output wells – creating a major environmental benefit while not majorly impacting consumer supply.
  • Sam saw huge potential in the carbon offsets industry, a market with massive demand but very little measurable supply. Carbon-conscious corporations are finding that current technology advances may not be enough to meet carbon neutrality goals. CarbonPath’s platform provides verifiable carbon credits from the closure of oil and gas wells, which can be traded between corporations to achieve net zero targets.
  • CarbonPath’s model seeks to make carbon credits more tangible, permanent, and verifiable. By building a trading platform based on blockchain technology, the company ensures complete transparency in regards to the work being done and credit chain of sale. Through the tokenization of carbon, corporations can trade carbon quickly and efficiently today, instead of waiting months for more traditional and arduous processes.

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