Reducing Emissions
“The most important energy innovation so far of the 21st century”
At a hearing earlier today on Capitol Hill, Pulitzer Prize-winning historian Daniel Yergin briefed members of Congress on the extraordinary nature of the recent increase in domestic oil and natural gas produced from unconventional sources like shale. I wanted to highlight a few of the points he made to explain why the dramatic increase in production of shale gas and tight oil amounts to “the most important energy innovation of the 21st century.”
Exports debate shows new oil and gas production creating American jobs
This morning, ExxonMobil filed our submission with the U.S Department of Energy for the open-comment period of a recent study on the economic implications of LNG exports. That study concluded that natural gas exports would yield net economic benefits for the United States. Its conclusions also reinforce the fact that the country’s enormous natural gas resource base can support both growing domestic use of natural gas for manufacturing and electricity generation as well as LNG exports.
Sound science and the truth about “fugitive emissions”
Two new studies directly address a claim from last year when some Cornell scientists asserted that natural gas from shale produces more lifecycle greenhouse gas emissions than coal. Those scientists blamed “fugitive” methane emissions said to escape during the recovery of natural gas. After the study’s release, The New York Times and other media outlets gave the report tremendous coverage. But coverage does not equal credibility.
An emissions success story from Canada’s oil sands
Canada has one of the world’s largest resources of energy in the oil sands regions of Alberta. The oil sands are a critical resource helping support U.S. energy security and economic growth – and industry is making continuous improvements in the environmental profile of their development. A prime example is ExxonMobil’s Kearl Oil Sands Project.
Natural gas fuels bright outlook for further emissions reductions
We know that burning natural gas for electricity reduces greenhouse gas emissions by up to 60 percent compared to coal-fired power generation – that’s a major factor behind the historic drop in U.S. emissions highlighted by the U.S. Energy Information Administration. Now it turns out the emissions reductions could be even more impressive going forward.
Greenhouse gas emissions lowest in 20 years, thanks to natural gas
Energy-related greenhouse gas emissions in the U.S. were recently recorded at their lowest levels since 1992, despite the fact our economy is 60 percent bigger and we use more energy than we did two decades ago. How is this possible? Because utilities are using less coal and more natural gas for electricity generation – yet another benefit of the shale revolution transforming American energy.
