Commitment Through Energy Standards and Investments
America’s oil and natural gas industry has a long-standing commitment to safety and protecting the environment. The industry’s environmental investments represent a crucial aspect of today’s energy exploration and production process. Since 1990, the industry has invested over $284 billion toward improving the environmental performance of its products, facilities and operations; $899 for every man, woman and child in the United States. In the year 2013 alone, $16.3 billion was spent on the environment; $14.6 billion was spent implementing new technologies, creating cleaner fuels and funding ongoing environmental initiatives. An additional $1.7 billion went toward research and development, corporate environmental programs and spill remediation efforts.
The oil and natural gas industry is hard at work meeting today’s energy needs and developing next-generation forms of energy. Between 2000 and 2014, the industry invested $90 billion in new low and zero emissions technologies. This represents 30 percent of the $304 billion spent by all U.S. industries and the federal government combined. These large investments are critical to provide the low-carbon energy we will need in the years ahead. Additionally, through new seismic exploration and extended reach drilling technologies, our geologists can survey underground oil and natural gas deposits more effectively than in years past. This improves exploration success rates while also reducing environmental impact.
Electronic navigation and physical oceanographic systems also help safeguard our environment and are a large part of the reason why more than 99.9 percent of oil delivered by tankers during the last decade has reached its U.S destination without incident.
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