Climate change is thought to be a direct result of greenhouse gases entering the atmosphere. Many of these gases are produced by the oil industry burning and refining oil. But a new plan involving Texas cattle could help put more carbon dioxide into the ground and less into the air.

There are millions of acres of grasslands where cattle graze across Texas. The cattle grazing project encourages cattle ranchers to use their cows to reduce carbon dioxide emissions. Here’s how it works: when cows graze for a short time in one field and then move to another field to eat, it helps the grass grow deeper roots that store more carbon dioxide. The plan would allow oil companies to continue to burn and refine oil while reducing the amount of greenhouse gases escaping into the atmosphere. The question is how to get oil companies to pay for research into the cattle project.

That’s where a new concept called The Texas Coastal Exchange comes into play. Scientists, lawyers and landowners met April 26 and 27 at the SSPEED conference, hosted by Rice University, to discuss implementing the Texas Coastal Exchange. The Exchange focuses on buying and selling ecosystem and carbon sequestration services. Cattle ranchers (sellers) would manage their land in a way that increases the amount of carbon dioxide absorbed by the ground. The oil companies (buyers) would pay for this service. This willing buyer-willing seller system is under development.

“That would pay for an enormous amount of conservation activities on the gulf coast,” said Environmental partner Tom Campbell.

Campbell says the Exchange should use independent groups, such as universities, to certify that refineries are paying for a carbon storage project that offsets the pollution they create.

“It’s kind of like organic food. If it’s got the organic seal, you know how it was produced. You think that’s responsible and you are willing to pay a little extra to be able to buy it,” said Campbell.

Campbell and fellow Environmental partner Michael McDonough served as keynote speakers at the conference, where they delivered presentations about designing a functional voluntary ecosystem and carbon trading systems.

To hear Tom Campbell discuss the cattle grazing project, visit Houston Public Media.