While API reviews the agreement reached at the COP21 climate negotiations, the trade association is urging world leaders to recognize the proven results of America’s market-driven model for addressing climate challenges, according to API President and CEO Jack Gerard.
“America’s private sector has already taken the lead on reducing greenhouse gas emissions, even as we increase economic activity and domestic energy production to keep energy reliable and affordable for consumers,” Gerard said. “Our success is driven, not by government mandate or legislative fiat, but through innovation, investment and entrepreneurial spirit.
“The United States has become the world leader in reducing carbon dioxide emissions. And EPA data show that methane emissions are also plummeting, with the largest reductions coming from hydraulically fractured natural gas wells.
“Our nation’s 21st century energy renaissance, which has made domestically produced natural gas cheap and abundant, has helped us achieve substantial and sustained emissions reductions without command-and-control style regulatory intervention. Where other nations have pledges, we have progress and results.”
“We will closely scrutinize the COP 21 agreement to see how it references the U.S. model of reducing emissions through technological innovation and increased use of natural gas.”
API is the only national trade association representing all facets of the oil and natural gas industry.