American Petroleum Institute releases safety, efficiency goals

The American Petroleum Institute released a list of goals to help promote a low-carbon future while meeting future energy needs. The petroleum institute and its member companies have already promoted and practised many of the goals outlined in the new framework. They just don’t talk about it, which negatively impacts people’s perceptions of the industry.

Lynn Granger Executive Director of  API Colorado said that climate change is real. The climate is changing, and we want to be a part of the solution and be at the table. They also think that the company has been doing their part to reduce emissions and focus strongly on that area.

American Petroleum Institute wants to promote technology acceleration and innovation for processes such as carbon capture which is a process designed to capture carbon dioxide and prevent it from entering the atmosphere and reduce the surface impact. Reducing carbon emissions is its own separate goal.The organization would also like to see a sensible economy-wide carbon pricing policy, which puts a monetary figure on carbon emissions to shift the financial burden to the companies creating them rather than those impacted by them.

American Petroleum Institute framework advocates for the advancement of cleaner, more efficient fuels and the development of a consistent and transparent climate reporting process. Granger said the industry has significantly reduced surface imprint by the development of horizontal drills that can take the place of multiple vertical drills. She also said the fracking industry has cut emissions by 50%.she also indicated that oil and gas companies are some of the state’s largest investors in renewable energy, while renewable sources rely on oil and gas byproducts.