WASHINGTON, March 28, 2014 – Industry is substantially reducing methane emissions from oil and natural gas production through its own leadership and investments, and new regulations would place unnecessary burdens on the development of America’s natural gas, API Director of Regulatory and Scientific Affairs Howard Feldman said in reaction to the climate action plan released by the White House today:
“The industry has led efforts to reduce emissions of methane by developing new technologies and equipment, and recent studies show emissions are far lower than EPA projected just a few years ago. Additional regulations are not necessary and could have a chilling effect on the American energy renaissance, our economy, and our national security.
“While we continue to make substantial progress to reduce emissions voluntarily and in compliance with EPA emissions standards, we’re also focused on creating jobs and growing our economy. Thanks in large part to innovations like hydraulic fracturing and horizontal drilling, America is leading the world in producing natural gas and reducing greenhouse gas emissions.
“Methane is natural gas that operators can bring to the market. There is a built-in incentive to capture these emissions.”
API is the only national trade association representing all facets of the oil and natural gas industry, which supports 9.8 million U.S. jobs and 8 percent of the U.S. economy. API’s more than 590 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 20 million Americans.