The American Petroleum Institute (API) today welcomed two new reports by the National Petroleum Council (NPC) that demonstrate how the United States can address the dual challenge of providing affordable, reliable energy while addressing the risks of climate change by advancing carbon capture, utilization and storage (CCUS) and spurring investments in new energy infrastructure.
“Our industry is leading the way in meeting the world’s growing energy demand while delivering solutions to reduce greenhouse gas emissions,” API President and CEO Mike Sommers said. “The natural gas and oil industry continues to drive emissions to their lowest levels in a generation, and as this study shows, we can build on this progress by fostering collaboration between the private and public sectors and advancing CCUS research and development. We urge Congress to make bipartisan CCUS legislation a priority and support innovative efforts to reduce emissions and achieve environmental progress.”
NPC said that “[t]he United States is uniquely positioned as the world leader in CCUS and has substantial capability to drive widespread deployment.” API supports bipartisan legislation to incentivize research and development of CCUS, including The USE IT Act (S. 383), introduced by Sen. Barrasso (R-WY) and Sen. Whitehouse (D-RI) and The LEADING Act (S. 1685), introduced by Sen. Cornyn (R-TX) and Sen. Coons (D-DE).
NPC found that America’s largest energy sources will continue to be natural gas and oil through at least 2040 and highlighted the need for new infrastructure to maintain affordable and reliable energy for all Americans.
“Investing in energy infrastructure is essential to sustaining and growing America’s energy leadership, keeping energy costs low for working families and promoting economic development,” Sommers said. “But red tape is stalling infrastructure projects not just in the energy industry, but across the entire U.S. economy. As we consider ways to unlock America’s infrastructure potential, modernizing the National Environmental Policy Act’s maze of permitting rules is a necessary step to ensure safe and environmentally responsible development of the nation’s vast energy resources.”
As NPC said, “Overlapping and duplicative regulatory requirements, inconsistencies across multiple federal and state agencies, and unnecessarily lengthy administrative procedures have created a complex and unpredictable permitting process. While there have been bipartisan actions by Congress and the Executive Branch to expedite the permitting process, more improvements are necessary.”
The NPC, which was first organized during World War II, is a federally chartered committee that advises the secretary of energy and the administration on energy policies.
API is the only national trade association representing all facets of the natural gas and oil industry, which supports 10.3 million U.S. jobs and nearly 8 percent of the U.S. economy. API’s more than 600 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 47 million Americans. API was formed in 1919 as a standards-setting organization. In its first 100 years, API has developed more than 700 standards to enhance operational and environmental safety, efficiency and sustainability.
API standards are developed under API’s American National Standards Institute accredited process, ensuring that the API standards are recognized not only for their technical rigor, but also their third-party accreditation which facilitates acceptance by state, federal, and increasingly international regulators. API’s Global Industry Services (GIS) division is responsible for standards setting, certification, training, events, publications, and safety programs for industry operations.