The U.S. oil companies are investing in Canadian firm Carbon Engineering, which has developed technology that removes carbon dioxide from the atmosphere. The company counts Bill Gates and Murray Edwards, the Canadian resource billionaire, among its existing backers. (Financial Post)

Talking point: Steve Oldham, the company’s CEO, said that to hit climate targets, emissions cuts must be accompanied by a reduction in the amount of carbon dioxide already in the atmosphere. However, carbon capture and storage systems cost so much that they’re only viable when governments put a price on emissions, according to MIT Technology Review. In Canada, carbon pricing is the subject of a political battle between the federal government and provinces like Saskatchewan, Manitoba and Ontario, which are removing existing policies or resisting imposing new ones.