The American Petroleum Institute (API) welcomed new clean energy research and development funding unveiled by the U.S. Department of Energy (DOE) under President Biden. The $100 million announced yesterday under DOE’s Advanced Research Projects Agency-Energy program aims to identify and help develop cutting-edge, innovative technologies needed to further reduce greenhouse gas emissions and tackle climate change.
“Our country has made incredible strides in reducing emissions to generational lows while producing affordable, reliable and cleaner American energy. We are pleased to see the Biden administration investing in innovation to build on this progress and tackle our climate challenges,” API President and CEO Mike Sommers said. “Our industry is committed to working with this administration on developing groundbreaking technologies, as well as prioritizing modern infrastructure investments to safely and responsibly deliver American energy.”
Reducing the risks of climate change and strengthening American energy security should go hand-in-hand. The U.S. can maintain a strong domestic energy sector and achieve environmental goals simultaneously, as the natural gas and oil industry has shown over the last decade. The industry has provided low-cost natural gas, driving down CO₂ emissions in the electric power sector while continuing to address methane emission rates, which have declined nearly 70 percent between 2011 and 2019 in five of the largest U.S. producing regions.
API supports DOE’s commitment to research and development, including in areas that its members are already investing in to find innovative energy solutions, such as:
- Direct air capture and carbon capture, utilization and storage
- Decarbonization infrastructure, such as carbon dioxide pipelines
- Sustainable and efficient fuels
- Lower-cost, low-carbon hydrogen