WASHINGTON, March 25, 2010 – Greenhouse gas emissions from the U.S. oil and natural gas industry declined more than 48 million metric tons of carbon dioxide equivalent from 2007 to 2008, a reduction comparable to taking 9.7 million cars off the roads, an American Petroleum Institute-sponsored study estimates. Among the factors contributing to the reduction is more than $58 billion invested by the industry in low-carbon technologies from 2000 to 2008.
The study – Emission Reductions Associated with U.S. Oil and Gas Industry Investments in Greenhouse Gas Mitigation Technologies – follows an earlier report (both conducted by T2 and Associates, an energy consulting firm) that detailed the industry’s $58 billion in low-carbon investments during those years.
The study found that the emission reductions fell into three major categories:
Fuel substitution (which accounted for 46 percent of the total reduction, and which largely reflects enhanced management of methane in the natural gas supply and distribution network)
Non-hydrocarbon fuels (19 percent of the total reduction, from investments in wind and solar)
End-use efficiency improvements (35 percent of the total reduction, from investments in combined heat and power)
Besides low-carbon technology investments, the study found other factors likely contributed to the greenhouse emissions decline, including lower petroleum product demand due to higher prices and a slowing economy. However, while U.S. refinery throughput and crude oil production declined 2.5 percent in 2008, crude oil and natural gas drilling increased by 6.3 percent and natural gas production rose by 4.4 percent.
See both studies below:
Updated: March 25, 2010