Oil and natural gas companies are taking action now to reduce greenhouse gas emissions and investing in the technologies and fuels that will reduce them even more in the future.
End-Use: America’s oil and natural gas companies are
investing in efficiency improvements and alternatives
and are advising companies in other industrial sectors
how to use energy more efficiently. Through such
end-use technologies as combined heat and power –
using excess heat from refinery processes to produce
additional energy – refiners are becoming more energy
efficient, reducing both energy use and emissions.
Between 2000 and 2014 the industry invested $50 billion in end-use technologies, including advanced technology vehicles, efficiency improvements, combined heat and power, gas flare reduction technologies and carbon capture and sequestration. This represents approximately 30 percent of all the investments made in these technologies in North America.
Non-Hydrocarbon: We are a major provider of the
green jobs that are in the news today. The oil and natural
gas industry accounts for about one out of every six dollars
of all the investments made in non-hydrocarbon fuels
since 2000. The industry’s top investments are in wind
and biofuels. Expenditures were also made in solar,
geothermal, and landfill digester gas.
Fuel Substitution: The oil and natural gas industry has
spent nearly $25 billion developing substitute and less
carbon intensive fuels, such as liquefied natural gas and
reducing fugitive gas emissions. This investment in fuel
substitution technologies represents 51 percent of the
total invested in this technology class.