Oil and Gas tycoons recently started taking responsibility for the environmental impact of their industry. Sixty-five companies banded together this past year to reduce their footprint through what they call the ‘Environmental Partnership’. The partnership is a coalition using sustainable extraction technologies, protecting both the planet and the future energy interests of the United States. Many quickly dismiss environmental commitments from an industry that has an objectively negative effect on the Earth. Coalitions like the Environmental Partnership foster false promises from big business. However, the National Center for Public Policy Research stated Thursday that the partnership has been largely successful in lowering the impact of the energy industry in America.
The Environmental Partnership itself functions as a forum to share information regarding industry breakthroughs that reduce emissions. Improvements focus mostly on methane emission reduction, as methane is one of the main contributors to global warming. The majority of the equipment used in energy farming — pipelines, drills and the like — has the potential to leak this harmful greenhouse gas into the atmosphere.
Fixing the plumbing
Over the past year alone, participating companies conducted more than 150,000 leak surveys across 78,000 production sites to find and fix leaky rigs. The leak rate across the board averaged to about .016%, much lower than EPA estimates. The majority of the leaks were fixed in just 60 days. ‘Pneumatic controllers,’ devices used to control gas temperature and pressure during extraction, also saw a remodel during the last year. 30,000 ‘high-bleed’ controllers were replaced, and 38 member companies simply stopped using them. Fixing leaks and replacing high-bleed controllers can cut site emissions by 40% and 60%, respectively, according to the EPA.
On top of requiring their members to uphold more stringent emission standards, the Environmental Partnership also hosts industry workshops for oil and natural gas producers. Participating companies learn about new techniques and technologies that reduce methane and volatile organic compound emissions. Member and non-member companies share scientific data to further the improvement of sustainable, environmentally friendly technologies.
Upwards and Onwards
The Environmental Partnership accomplished much more than those few examples this past year. Since their founding in 2017, they’ve grown their membership from just 26 companies to their current total of 65. Their membership increased by a startling 50% in just the first six months of operation. This total includes over half of the nation’s top energy firms. In their annual report, the EPA cited a 16% drop in methane emissions in the energy sector. It is reasonable to assume that this is in large part due to the work of the Environmental partnership. 32 of the top 40 natural gas producers and 21 of the nations top oil companies are members.
What they’ve accomplished in the last year exemplifies the success of a marriage of environmental responsibility with capitalism. The partnership meets the ever-increasing demand for energy while cutting emissions to 25 year lows. While production more than doubles across the board, member companies cut emissions by half. All reports state the partnership is fulfilling their goals and living up to their mission, something the world has recently been lacking.
To get a full view of what the Environmental Partnership has been up to in the past year, take a look at their annual report.