America's oil and natural gas companies are making their operations cleaner and more efficient. They are also reinvesting industry earnings in new technology, new production, and environmental and product quality improvements that will meet tomorrow's energy needs.

• The U.S. Department of Energy estimates that simple investments and behavioral changes can bring about a 20 percent increase in energy efficiency, with savings that can amount to almost $19 billion (in 2004 energy prices).
• Computers and new refining technology have improved refining operations and efficiency. Though no refineries have been built in the last 30 years, the industry has added the equivalent of 16 refineries. This is an increase of 13 percent domestic refining capacity.
• Efficiency efforts by oil and natural gas companies allow production with less waste, less electricity, and less greenhouse gas emissions.
• Fewer wells have meant less wasted energy in drilling operations.

Cogeneration produces electricity and thermal energy efficiencies that can be more than twice that of the traditional approach of producing electricity and steam separately. It saves energy in refineries, in some instances, leading to excess electricity generated at the refinery that can be sold off-site for use by schools, hospitals and many other facilities.