According to a statement from the API Vice President of Regulatory and Economic Policy Kyle Isakower, the costly new regulations on methane emissions the Obama administration, announced Thursday 12 May, could harm America’s shale energy revolution, which has lowered US carbon emissions and costs for American consumers by more than US$550 at the pump in 2015, and added US$1337 in disposable income per household in 2015.
“The industry is already leading the way on methane reductions because it is good for the environment and good for business,” Isakower said. “Even as oil and natural gas production has risen dramatically, methane emissions have fallen, thanks to industry leadership and investment in new technologies.”
“It doesn’t make sense that the administration would add unreasonable and overly burdensome regulations when the industry is already leading the way in reducing emissions. Imposing a one size fits all scheme on the industry could actually stifle innovation and discourage investments in new technologies that could serve to further reduce emissions.”
“Natural gas is a proven source of clean, affordable, and reliable energy. The development and use of natural gas from shale has helped the US lead the world in cutting power sector carbon emissions, which are near 20 year lows. The last thing we need is more duplicative and costly regulation that could discourage natural gas production, disrupt our progress reducing emissions, and increase the cost of energy for American consumers.”
Adapted from press release by Francesca Brindle
Read the article online at: https://www.hydrocarbonengineering.com/clean-fuels/13052016/api-methane-rules-threaten-shale-gas-revolution-3293/