Spiritus CEO Charles Cadieu confirmed the move, noting that the commercial pull from the oil industry outweighs the current, stagnant demand for carbon credits. By injecting CO2 into mature reservoirs across Texas, the Rockies, and the Midwest, producers could unlock an estimated 70 million barrels of crude. Cadieu characterized the pivot as a pragmatic response to a sector currently lacking the necessary regulatory and financial backing to sustain pure carbon capture business models.

The broader shift reflects a trend among startups struggling to justify the high costs of direct air capture without consistent government support. Tech giants have also retreated from the carbon credit market, redirecting capital toward artificial intelligence initiatives. Meanwhile, a recent report from the University of Houston underscores the technical potential of this pivot, identifying 137 billion barrels of oil in the U.S. that remain accessible through CO2-enhanced recovery. For firms like Spiritus, the strategy offers a path to immediate commercial traction while maintaining claims of permanent carbon sequestration.