WASHINGTON – The American Exploration and Production Council (AXPC) submitted a letter for the record today to the U.S. Senate Committee on Energy and Natural Resources for the “Full Committee Hearing to Examine Global Climate Trends and Progress in Addressing Climate Change.”
“The oil and gas industry has innovative solutions to addressing climate change and we want to work with the government to deploy them,” said Anne Bradbury, CEO of the American Exploration and Production Council. “Over the past decade, the U.S. has led the world in emissions reductions – largely due to the innovations coming from the oil and natural gas industry. We can continue America’s leadership on climate solutions through policies that support the production of clean natural gas, public private partnerships, investment in emissions reductions technologies like CCUS, and expanding options to export USLNG around the world.”
In a letter submitted to Senate ENR Chairman Manchin and Ranking Member Barrasso, AXPC CEO Anne Bradbury outlined the importance of public-private partnerships in addressing climate change. In the letter, APXC explained that “As an industry, we have an irreplaceable role in developing and employing the technologies and innovative solutions that further our global climate goals, secure our longer-term energy future, and support our national security.”
Specifically, AXPC explained how U.S. liquefied natural gas (U.S. LNG) and American innovations like Carbon capture, utilisation and storage (CCUS) are industry solutions that can support climate goals:
- Our industry recognizes the need for public-private partnerships to create and deploy a broad range of large-scale, low-cost greenhouse gas emissions reduction technologies across the economy. These technologies should help produce or consume oil and natural gas in ways that are less carbon intensive than current practice.
- According to the International Energy Agency (IEA), “Carbon capture, utilisation and storage (CCUS) is the only group of technologies that contributes both to reducing emissions in key sectors directly and to removing CO2 to balance emissions that are challenging to avoid – a critical part of ‘net’ zero goals. After years of slow progress, new investment incentives and strengthened climate goals are building new momentum behind CCUS.”
- The U.S. has a unique opportunity both to meet global energy demand and ensure the growing need for energy around the world will be filled by an energy source that better serves global climate goals. Even under the IEA Sustainable Development Scenario, which assumes every country meets their Paris commitments, the world will still get almost 50 percent of our energy from oil and natural gas in 2040. One of the best ways to reduce global emissions is to promote U.S. liquified natural gas to global markets which currently use more emissions intensive energy sources.
About the American Exploration and Production Council:
AXPC is a national trade association representing the largest independent oil and natural gas exploration and production companies in the United States. We lead the world in the cleanest and safest onshore production of oil and gas, while supporting millions of Americans in high-paying jobs and investing a wealth of resources in our communities. Learn more at https://www.axpc.org/