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Tag:

oil and gas

New Report Shows Path Forward on Cutting Methane Emissions

New Report Shows Path Forward on Cutting Methane Emissions

written by

Environmental Defense Fund was the first environmental group to hire a full-time economist, way back in the 1970s. At the time, many wondered what economics had to do with protecting the environment. We saw an opportunity and seized it because we believe prosperity and stewardship can go hand-in-hand, and solutions that make good business sense have the best chance of catching on and delivering environmental benefits that stick. That idea remains one of our guiding principles today.

So, it should be no surprise that EDF recently commissioned a detailed economic analysis of opportunities to cut methane emissions from the U.S. oil and gas industry. Our objective was simple – show how leading companies can cut methane emissions quickly and cost-effectively.

Why focus on methane emissions, and why now? Because pound for pound, methane is a very potent greenhouse gas – initially at least 120 times more potent than CO2 when released into the air. Whether intentionally vented or inadvertently leaked, methane from the oil and gas sector is America’s largest industrial source of U.S. methane emissions.

It’s a serious problem… but after extensive analysis and discussion with industry leaders and other experts, this study shows us it’s a solvable one. Better yet, it makes a solid case for immediate action.

Here is EDF’s view of what the report tells us:

  • Methane emissions are a growing problem – Even with current regulations, emissions from oil and gas production are expected to grow 4.5% between now and 2018, with nearly 90% of emissions in 2018 coming from existing infrastructure.
  • Significant reductions are achievable – With current technologies already used in the oil and gas sector, we can cost effectively cut methane emissions from onshore oil and gas sources by 40% from 2018 projections.
  • Reducing emissions is cost effective – The 40% cut in emissions is achievable at a net cost of less than a penny per thousand cubic feet (Mcf) of gas produced – which has traded in the range of $2.00-4.50 per McF over the last few years. In other words, the climate will take notice if we cut methane emissions, but your electricity and gas bills won’t.
  • Lower emissions means higher revenues – Lastly, some of the emission controls more than pay for themselves, as the methane captured and sold offsets the cost of implementing these state-of-the-art technologies. Just over half of the emissions reduction measures identified will actually make industry money.

Now that the facts are clear, it’s time for industry to seize this opportunity.

EDF calls on companies across the oil and gas value chain to take a hard look at the report, and take action starting this year in four steps:

  • Measure– As a first step in benchmarking, take measurements of your emission, including direct measurements, to better understand how your company is performing on this issue;
  • Reduce – Set targets and use reduce your emissions with the proven technologies identified in the cost curve study and any others that may work for your company; and
  • Report –Monitor and report on your progress implementing methane management activities and reducing emissions.
  • Lead – Ultimately, leverage your position as an industry leader to advocate for emissions reductions across the value chain, encourage peers to follow your lead, and support policy changes that maximize the climate benefits of natural gas.

Cutting methane emissions won’t solve climate change by itself – we need to continue to reduce CO2 emissions – but doing so will put a major dent in the rate of near-term global warming. That means a real chance of reducing emissions that warm the planet for decades and deliver climate benefits in our lifetime. And, because methane is also a product – natural gas – cutting waste of that resource is often a win-win for companies and the environment.

If every company in the oil and gas industry takes these steps, it will go a long way toward helping the climate. That’s a win that matters.

Article by Tom Murray of EDF, appearing courtesy 3BL Media.



March 3, 2014 0 comment
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Dozens of Small Earthquakes Detected Near Texas Drilling Sites

written by Yale Environment 360

A new study by researchers at the University of Texas has found that dozens of small earthquakes occurred in a shale region of north Texas within a two-year period, with many occurring close to injection wells associated with oil and gas drilling projects.

In an analysis of seismic data, study author Cliff

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August 8, 2012 0 comment
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12 Green Groups Push for End to Oil Industry Tax Breaks

written by Walter Wang

Oil companies are reaping massive profits and skirting taxes (with the help of fossil-fuel-friendly politicians) while the U.S. is in a debt crisis. Is that fair?

While the general public suffers through very difficult economic times and the threat of government shutdowns, the oil industry is reaping good profits,

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August 12, 2011 0 comment
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Government Subsidies to the Oil Companies

written by Walter Wang

All Americans should be aware of what’s happening in Washington in this critically important area that affects every one of us. Earlier this week, 48 Senators, including three Democrats and all but two Senate Republicans voted to defeat a bill that would have ended tax breaks for the five biggest oil companies.

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May 20, 2011 1 comment
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Despite Rhetoric, Cutting Oil Subsidies Would Have Little Effect on Gas Prices

written by Walter Wang

Democrats renewed their push to cut oil subsidies this week, saying high gasoline prices and big revenues for oil and gas companies make this as good a time as any to eliminate billions in annual tax incentives to the industry. Republicans countered that higher taxes on oil companies would only mean higher prices for consumers.

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May 12, 2011 0 comment
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The Facts on Domestic Oil and Gas Production

written by Walter Wang

Some recent stories in the press have attempted to paint a picture that an agreement on energy issues signed during the President’s trip to Brazil shows a lack of commitment to domestic oil and gas production. Let’s be clear – this administration is committed to developing a broad range of energy sources, and we

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March 28, 2011 0 comment
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Opponents to Fracking Disclosure Take Big Money From Industry

written by Walter Wang

Congress isn’t going to regulate hydraulic fracturing any time soon. But the Department of Interior might. For starters, Interior is mulling whether it should require drilling companies to disclose the chemicals they use to frack wells drilled on public lands, and already the suggestion has earned Interior Secretary Ken Salazar an earful.

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January 18, 2011 0 comment
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The Clean Tech Industry’s Stake in California on November 2nd

written by Peter Asmus

The oil and gas interests that are behind Proposition 23 on the November 2nd ballot in California are faltering in the polls. That’s good news for the clean tech sector, but a less well-known ballot measure, Proposition 26, could still help pull the rug out from under California’s

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November 2, 2010 0 comment
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Turkmenistan to Play Crucial Role in Supplying Oil and Gas

written by Environmental News Network

Oil and gas supplies and their future use is a major variable for the 21st. century. On the one hand there is a demand to go to renewable energy sources. On the other hand is that oil and gas will be used for many years to come. Turkmenistan’s president said on September 3oth. that his country had the capacity to almost quadruple its natural gas exports in the next 20 years and was ready

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October 4, 2010 0 comment
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