The U.S. oil and natural gas industry is spending billions of dollars developing new advanced energy technologies to reduce greenhouse gas emissions and meet future energy needs.
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 about 30 percent of the more than $300 million spend 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. U.S. oil and natural gas companies are pioneers in developing alternatives and expanding America’s use of virtually every form of energy – from geothermal to wind, from solar to biofuels, from hydrogen power to the lithium ion battery for next-generation cars.