The American Petroleum Institute (API) recently spoke out after the Environmental Protection Agency recently unveiled the final version of new methane-emissions regulations for the oil and gas industry, arguing that the regulations are redundant and likely will hinder the ongoing shale boom in natural gas production.
“It doesn’t make sense that the administration would add unreasonable and overly burdensome regulations when the industry is already leading the way in reducing emissions,” Kyle Isakower, API's vice president of regulatory and economic policy, said. “Imposing a one-size-fits-all scheme on the industry could actually stifle innovation and discourage investments in new technologies that could serve to further reduce emissions.”
API also said the development of shale energy has led to significant reductions in energy costs to electricity consumers and suggested that the EPA’s proposed regulations could jeopardize those savings. Isakower also said methane emissions have been falling, even as oil and gas production has increased.
“Natural gas is a proven source of clean, affordable and reliable energy,” Isakower said. “The development and use of natural gas from shale has helped the U.S. lead the world in cutting power-sector carbon emissions, which are near 20-year lows. The last thing we need is more duplicative and costly regulation that could discourage natural gas production, disrupt our progress in reducing emissions, and increase the cost of energy for American consumers.”
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