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API: US leads in carbon emission reduction

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Hydrocarbon Engineering,


API President and CEO Jack Gerard has highlighted the US' global leadership in energy production and reducing carbon emissions in response to EPA’s latest figures released, which show that carbon emissions from power plants, oil drilling, factories and other industrial sources fell 4.9%.

“It’s becoming more widely known that the United States is leading the world in the production of oil and natural gas while at the same time leading the world in lowering carbon emissions, which are near 20 year lows thanks to clean burning natural gas,” said Gerard. “This is remarkable, and comes largely through American innovation and our free markets. While production of oil and gas has increased, carbon emissions have declined. Manufacturing costs are also down, and AAA says American drivers saved US$550 at the pump last year because of increased energy production.”

Facts on emissions reductions:

  • From 2000 through 2014, the US oil and natural gas industry invested approximately US$90 billion in GHG mitigating technologies. Other US industries invested an estimated $103 billion, and the federal government invested an estimated US$110 billion.
  • Oil and natural gas industry expenditures on GHG mitigation more than doubled – to $217.5 billion – with the addition of shale investments.
  • From 2000 to 2014, the oil and natural gas industry was responsible for approximately 17%, or US$14.8 billion, of all investments in non-hydrocarbon resources, including wind, solar, geothermal and biomass technologies.
  • From 2013 to 2014, the oil and natural gas industry directly reduced emissions by the equivalent of 55.5 million t of CO2 – equal to taking 11.8 million cars off of the road.

Read the article online at: https://www.hydrocarbonengineering.com/the-environment/06102016/api-us-leads-in-carbon-emission-reduction/


 

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