Emphasize market-driven climate approach

November 16, 2015

Penn Energy

When Obama administration representatives arrive in Paris for upcoming global climate discussions, they should emphasize the successful market-driven approach that helped the US lead the world in reducing greenhouse gas emissions while increasing its oil and gas production, the American Petroleum Institute urged.

“There should be no place for dogmatic adherence to ideology,” API Pres. Jack N. Gerard told reporters in a Nov. 16 teleconference. “The US has an opportunity to show how it has reduced greenhouse gas emissions even as it has increased energy production. Our success is driven by investment, innovation, and entrepreneurial spirit.”

He noted that a new analysis by API, using US Energy Information Administration and World Bank data, finds states could reach goals more efficiently under the administration’s new Clean Power Plant using more natural gas instead of wind, solar, and increase energy efficiency that are being promoted.

Gerard also cited US Environmental Protection Agency figures showing methane emissions from domestic oil and gas operations are plummeting, with the largest reductions coming from hydraulically fractured natural gas wells.

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