WASHINGTON, Oct. 21 (UPI) -- The American Petroleum Institute says the oil and gas industry spent more on technology that reduces greenhouse gas emissions than the U.S. government.
API Vice President for Regulatory and Economic Policy Kyle Isakower said that, since 2000, the oil and gas industry has invested more than $70 billion in technology that reduces greenhouse gas emissions compared with $43 billion from the federal government.
Isakower said that, while the oil and gas sector was focusing its efforts on conventional resources that will play a dominant role in the energy future of the United States, it was working to develop the alternative technologies for a greener future.
An API study concluded that the oil and gas industry directly reduced greenhouse gas emissions by more than 50 million tons in 2010 when compared with 2009 levels. Isakower said most of that reduction came through methods that improve energy efficiency.
"These reductions were produced by fuel substitution -- both lower carbon and renewable energy sources -- reduced flaring and fugitive emissions and improved efficiency, such as combined heat and power," he said. "The reductions equate to taking more than 11 million cars off the road."
The U.S. Energy Department hasn't issued a public response.
