AXPC Statement on IEA ‘Net Zero by 2050’ Report

WASHINGTON – Following the International Energy Agency’s report commenting on the current development of fossil fuel projects, American Exploration and Production Council CEO Anne Bradbury outlined the criticality of fossil fuels to people around the world:

“Oil and natural gas are vital to people’s quality of life.  There are two billion people around the world who still do not have access to reliable energy – people who are looking to countries like the United States to provide the affordable, reliable, ever-cleaner energy they need to emerge from poverty.

“The world can meet growing demand for energy while continuing to reduce emissions by working with the US oil and natural gas industry to develop and deploy the innovative technologies needed to reach net-zero.  US oil and gas is produced at the highest standards of anywhere in the world, and the industry is constantly innovating to meet the dual challenge of addressing climate change while meeting global demand for oil and natural gas to fuel their lives.

“We believe we can meet our environmental goals by working together with policymakers to achieve this dual challenge – not cancelling the fuels our world needs to thrive.”

The Oil and Natural Gas Industry’s Innovative Efforts to Reduce Emissions
American oil and gas producers have an irreplaceable role in meeting the challenge of global climate change. AXPC, representing large independent American oil and gas producers, supports innovative, collaborative solutions that lower greenhouse gas (GHG) emissions while meeting the world’s growing need for abundant, low cost, reliable energy. Examples of our industry’s innovative efforts to reduce emissions and address climate change include:

  • Methane Reduction Technologies: U.S. independent producers meaningfully reduce methane emissions with new technologies, including: innovative leak detection such as satellite and aircraft based sensors, replacing or upgrading high-emitting components (i.e. pneumatic controllers), enhanced design for new facilities, and investments in infrastructure.
  • Hydraulic fracturing and horizontal drilling: through these technologies, our industry has tapped into our nation’s vast resources of affordable and reliable energy. The dramatic increase in the production of domestic natural gas is the single largest contributor to reducing U.S. greenhouse gas (GHG) emissions to their lowest level in a generation. Fracking continues to improve, as greater equipment and engine efficiency and improved technologies mean less energy consumption – thus lower air emissions – per unit of energy produced.
  • Carbon Capture and Utilization Storage (CCUS): a process by which carbon dioxide is removed from combustion processes, 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,” according to IEA.
  • U.S. liquified natural gas (U.S. LNG): this American innovation is one of the best ways to reduce global emissions and ensure that worldwide energy demand is satisfied in a manner that minimizes GHG emissions while maximizing reliability, and cost-efficiency.

 

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