: Earth-warming emissions vary dramatically across U.S. oil and gas companies, report says

by | Jul 14, 2022 | Stock Market

Oil and gas producers have a great deal of control over the emissions they spew into the atmosphere, including potent methane, simply with the equipment they choose and other operational decision-making, a new report out Thursday says. That means, slowing climate change is in the hands of these energy producers, while some in the industry are responsible for a much greater share of pollution than others, a second annual analysis from nonprofits Ceres, which focuses on sustainable investments, and the Clean Air Task Force, showed.

The report, Benchmarking Methane and other GHG Emissions of Oil and Natural Gas Production in the United States, analyzed the exploration and production emissions of the more than 300 largest U.S. oil
and gas
producers. “Oil and gas producers are not equals when it comes to methane emissions, and this research makes quite clear that a company’s climate impact is a direct result of operational decisions within its control,” said Andrew Logan, senior director of oil and gas at Ceres.  “The companies that are most able to effectively minimize their own emissions will be best prepared for a future zero-emissions economy,” Logan added.



In the second year of this analysis, the highest emitting oil and gas companies had a methane emissions intensity nearly 24 times that of the lowest emitting companies, according to the most recently available data from the U.S. Environmental Protection Agency used in the analysis. The creators argue their findings establish a clear, consistent record by which investors, operators, natural gas purchasers, policymakers and regulators can compare producers’ performance in an industry where historically, voluntarily reported emissions metrics have been inconsistent and non-comparable. Further, these findings may prove to be particularly important as the EPA works to revise federal methane regulations this year. The EPA, which saw its powers clipped by the Supreme Court this year, has proposed rules to curb methane pollution from the oil and gas sector. The sector emits roughly 16 million tons of m …

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