Abstract: CO2 is extracted from the atmosphere by concentrating atmospheric air to form a first volume of the atmospheric air of increased level of CO2 and a second volume of reduced level of CO2, discharging the second volume back into the atmosphere and injecting the first volume into underground formations. The CO2 is concentrated by ionization and electrostatic separation of the charged particles from a stream and further concentration is carried out by molecular sieves. The first volume can be made miscible with oil and used to extract oil from oil-bearing formations or permanently stored in underground formations.