Robert Dodge | 202-682-8127 | dodger@api.org
WASHINGTON, January 15 – The U.S. Climate Action Partnership proposal is an example of how the oil and natural gas industry is contributing to a public debate to address the risks of global climate change.
Since 2000, the oil and natural gas industry has invested $42 billion into zero- and low-carbon research and development – that’s 45% of all spending by U.S. companies and the federal government, combined. And between 2000 and 2007, the industry invested an estimated $121.3 billion in emerging energy technologies, including renewables. The investment represents 65 percent of the total $188 billion spent by all of industry and the federal government combined on emerging energy technologies.
“This week several industrial leaders, including some from the oil and natural gas sector, put forward proposals to manage greenhouse gases,” said Jack Gerard, president and CEO of the American Petroleum Institute. “We intend to be part of the solution and look forward to a continuing dialogue on meeting this global challenge.”