American Petroleum Institute (API) President and CEO Mike Sommers today spoke to the Economic Club of Pittsburgh where he highlighted the importance of Pennsylvania’s robust natural gas and oil industry to the nation’s efforts to provide affordable, reliable energy while continuing to reduce greenhouse gas emissions. Surrounding Climate Week NYC, Sommers underscored how natural gas and oil should be part of the solution to shaping a lower-carbon future globally.
“Pittsburgh is one of the energy capitals of the world. Without Pennsylvania energy resources, America wouldn’t be the world’s top producer of natural gas and oil – reversing decades of foreign imports,” said API President and CEO Mike Sommers. “Without support from Pennsylvania natural gas, America couldn’t have reduced power-related CO2 emissions 40% in the past 15 years – outpacing coal as the top source of U.S. electricity generation. And…America wouldn’t be in a position to continue exporting environmental progress – in the form of LNG – all over the world to power both a growing population and reverse energy poverty.”
As the second largest state producer of natural gas in the U.S., Pennsylvania energy production is powering local economies throughout the Commonwealth. The industry supports nearly 500,000 direct, indirect and induced jobs in Pennsylvania, and generates an additional 3.7 jobs elsewhere in the state. Natural gas and oil also contribute $78.4B to Pennsylvania’s GDP, or nearly 10 percent to the state’s total.
“But the transformation isn’t limited to Pennsylvania. The shale revolution has spread and revitalized America. Import terminals became export terminals. America reduced its trade deficit. U.S. greenhouse gas emissions are at generational lows. We reduced our energy dependence on foreign nations and unreliable regimes. And in the process, the state’s environmental progress transformed the world. In 2019, federal estimates show that natural gas from Pennsylvania’s Marcellus and Utica Shale has been shipped out to 20 different countries,” Sommers continued.
As world leaders convene this week at the United Nations General Assembly to discuss policies and actions to tackle climate change, Sommers discussed what the natural gas and oil industry is doing to provide meaningful solutions to solve this problem. He stated, “The challenge of meeting the world’s growing energy needs at the same time that we are building a lower-carbon future is massive, intertwined and fundamental. Our industry also views it as the opportunity of our time, and one we are uniquely positioned to meet with our scale and expertise, aided by smart policies and relentless innovation.”
“In April, we released the industry’s Climate Action Framework of policy proposals and industry initiatives to further reduce emissions while fueling economic growth. By advocating for the acceleration of emissions-reducing technologies, encouraging transparency in climate reporting, and advancing cleaner fuels, API member companies in Pennsylvania and beyond are demonstrating their support for continuous innovation, new economywide market mechanisms and sensible policy proposals to enable a better tomorrow.”
API is committed to achieving a lower-carbon future while meeting rising energy demand around the world. “Do we want natural gas and oil companies to keep working toward a cleaner energy future with government partners, other industries and fellow innovators to meeting energy needs? Or do we want policies that could put America at a disadvantage – jeopardizing jobs, increasing energy costs and harming American competitiveness,” stated Sommers.
“There are many routes to support U.S. communities, meet energy demand and tackle climate change. They share two things in common: American energy from U.S. natural gas and oil.”
API represents all segments of America’s natural gas and oil industry, which supports more than 11 million U.S. jobs and is backed by a growing grassroots movement of millions of Americans. Our nearly 600 members produce, process and distribute the majority of the nation’s energy, and participate in API Energy Excellence, which is accelerating environmental and safety progress by fostering new technologies and transparent reporting. API was formed in 1919 as a standards-setting organization and has developed more than 700 standards to enhance operational and environmental safety, efficiency and sustainability.