WASHINGTON – May 11, 2023 – Today, EPA released a new proposal that requires very aggressive emissions reductions and imposes requirements not only on new power plants, but also existing ones – making it significantly harder to rework an existing power plant and deterring investment in natural gas generating facilities.
“The primary reason that Americans have affordable and reliable electricity, and the US leads the world in emissions reductions is because of the role that natural gas plays in our power sector,” said AXPC CEO Anne Bradbury. “While we are still digesting the details and impacts of EPA’s proposal, we have concerns about any rule that relies on unproven and uneconomical technologies in an effort to diminish the critical role that natural gas plays in providing clean, affordable, and reliable energy to every American family and business.”
Oil and natural gas demand is projected to grow for decades to come and continued growth in production of oil and natural gas are needed to maintain pace with the growth in energy demand – especially to meet power generation, where natural gas is 37 percent of the input into electric power –the single biggest source of electricity generation in the US.
From 1981 to 2021, the US has reduced its reliance on coal as an energy source by 34 percent due to the switch to natural gas – which has nearly half the emissions of coal. This has been the foundational reason for GHG emission reductions over the last 20 years. At the same time, energy provided by renewables doubled, yet still only made up about 12 percent of the US total US energy mix.
AXPC member companies invest and deploy new technologies and often go above and beyond federal regulation, as part of their efforts to drive down emissions from upstream operations. American producers’ commitment to environmental protection is clear, as the United States is a world leader in both energy production, and CO2 emissions reductions over the past two decades.
About the American Exploration and Production Council:
AXPC is a national trade association representing the leading independent oil and natural gas exploration and production companies in the United States. We lead the world in the cleanest and safest onshore production of oil and gas, while supporting millions of Americans in high-paying jobs and investing a wealth of resources in our communities. Learn more at https://www.axpc.org.