Oil, gas industry leads private-sector push to reduce greenhouse gases

September 22, 2015

SNL Financial

A new report portrays the oil and gas industry as one of the leaders in bringing about a significant reduction in greenhouse gas emissions between 2000 and 2014.

The report, conducted by T2 and Associates for the industry group, tallied federal and private investments in zero- and low-emissions technologies over the time frame. The report's findings indicated that the oil and gas sector invested approximately $90 billion in emissions technologies during the 14-year period, more than the automotive, electric utility and agriculture sectors combined.

"This report once again illustrates how the oil and gas industry is continuing to lead all other industries in developing technologies that reduce greenhouse gas emissions," American Petroleum Institute President and CEO Jack Gerard said on a conference call. "No other industry's investment comes close to what the oil and gas industry has invested."

The federal government invested approximately $110.3 billion in low-emissions technologies during the same period, but Gerard said the industry's efforts to reduce emissions and increase efficiency show that the private sector is capable of leading the way in reducing emissions and creating jobs. The $90 billion and $110.3 billion figures exclude the effect of shale gas investment over the period studied.

Read entire article on SNL Financial.

 

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