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API CEO: Oil and Natural Gas Spends Billions on Innovation
According to Jack Gerard, President and CEO of the American Petroleum Institute, the oil and natural gas industry spends billions of dollars to produce energy with minimal to no carbon emissions. In a Planet Forward interview, he answers our energy innovation question and shares the secrets behind being the leader of these new forms of energy.
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On January 23rd, 2011 at 8:29 pm Alex J Said:
I hear Exxon invests some in removing impurities, including CO2, from natural gas (apparently a sort of quality control), and pats themselves on the back about it, but that apparently doesn’t much change the combustion carbon footprint of the fuel. Perhaps overall, the proof is in the pudding. How about a look at what percentage of the fuel supply is renewable (present and projected for the next decade), and the ratio of investment in fossil fuel production (including carbon-intensive tar sands) vs. low-carbon energy? I suspect they probably know that with today’s usage levels (and no real impetus yet to wean ourselves off of subsidized oil), even marginal fossil fuel sources remain a more viable investment.
On January 27th, 2011 at 3:16 pm Susanna, PF Web Maven Said:
@alexj – True, but if we removed the billions in subsidies we give to the fossil fuel industry, like Obama proposed in his SOTU, then at least we’d start leveling the playing field. We’ll try to track down those numbers for you…
Thanks for your comment!
Susanna