Back to OurEnergyLibrary search




Leaking Profits

Leaking Profits

Full Title:  Leaking Profits: The U.S. Oil and Gas Industry Can Reduce Pollution, Conserve Resources, and Make Money by Preventing Methane Waste
Author(s):
Publisher(s):  Natural Resources Defense Council
Publication Date: May 1, 2012
Full Text: Download Resource
Description (excerpt):

Methane is valuable as a fuel, but it is also a greenhouse gas at least 25 times more potent than carbon dioxide over a 100 year period, with even greater relative impacts over shorter periods. Methane makes up as much as 90 percent of natural gas. Currently the United  States loses at least 2 to 3 percent of its total natural gas production each year when gas is leaked or vented to the atmosphere. Natural gas is routinely allowed to escape into the atmosphere from oil and gas industry equipment and processes. This is a waste of a valuable fuel resource as well as a source of local pollution and climate change.
A focus on reducing methane waste can produce not only benefits for the climate but also substantial profits for oil and gas companies, and revenues for royalty owners including taxpayers, who own public lands. This report focuses on 10 profitable and widely applicable methane emission reduction opportunities in the United States oil and gas (O&G) industry. If these technologies are used throughout the industry, they have the potential to reduce U.S. methane emissions by more than 80 percent of current levels, based on the U.S. Environmental Protection Agency’s (EPA) estimates, an amount greater than the annual greenhouse gas emissions from 50 coal fired power plants. This methane, if captured and sold, can bring in billions of dollars in revenues while benefiting the environment

All statements and/or propositions in discussion prompts are meant exclusively to stimulate discussion and do not represent the views of OurEnergyPolicy.org, its Partners, Topic Directors or Experts, nor of any individual or organization. Comments by and opinions of Expert participants are their own.

Sign up for our Press Release Distribution List

    Your Name (required)

    Your Email (required)

    Please sign me up to receive press releases from OurEnergyPolicy.org.