API: Administration’s unreasonable methane rules could put shale energy revolution at risk
WASHINGTON, May 12, 2016 – Costly new regulations on methane emissions the Obama administration announced Thursday could harm America’s shale energy revolution that has lowered U.S. carbon emissions, lowered costs for American consumers by more than $550 at the pump in 2015, and added $1,337 in disposable income per household in 2015, said API Vice President of Regulatory and Economic Policy Kyle Isakower.
“The industry is already leading the way on methane reductions because it is good for the environment and good for business,” Isakower said. “Even as oil and natural gas production has risen dramatically, methane emissions have fallen, thanks to industry leadership and investment in new technologies.
“It doesn’t make sense that the administration would add unreasonable and overly burdensome regulations when the industry is already leading the way in reducing emissions. Imposing a one-size-fits-all scheme on the industry could actually stifle innovation and discourage investments in new technologies that could serve to further reduce emissions.
“Natural gas is a proven source of clean, affordable, and reliable energy. The development and use of natural gas from shale has helped the U.S. lead the world in cutting power sector carbon emissions, which are near 20-year lows. The last thing we need is more duplicative and costly regulation that could discourage natural gas production, disrupt our progress reducing emissions, and increase the cost of energy for American consumers.”
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 650 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 30 million Americans.