Tesla CEO Musk puts $100 mln jolt into quest for carbon removal – Reuters

Tesla CEO Musk puts $100 mln jolt into quest for carbon removal – Reuters

SpaceX owner and Tesla CEO Elon Musk speaks during a conversation with legendary game designer Todd Howard (not pictured) at the E3 gaming convention in Los Angeles, California, U.S., June 13, 2019. REUTERS/Mike BlakeBillionaire entrepreneur Elon Musk on Thursday offered inventors $100 million in prize money to develop ways to fight global warming by removing carbon dioxide from the atmosphere or ocean."Right now we've only got one planet," said Musk, CEO of electric carmaker Tesla Inc (TSLA.O). "Even a 0.1% chance of disaster -- why run that risk? That's crazy!"In January, Musk announced his intention to offer $100 million in prizes and set out the contest rules on Thursday, Earth Day. What organizers called the "largest incentive prize in history" will last for four years through Earth Day, 2025.Carbon capture and storage has drawn growing interest as a warming climate has melted glaciers, intensified tropical storms and resulted in "sunny day flooding" of more and more coastal areas. While countries are working to reduce emissions, scientists say carbon removal technology will also be crucial to the goal of getting emissions to net zero by 2050."Both cost and scalability need to be addressed. Is it going to be enough carbon