The carbon intensity of U.S. oil and gas drilling, particularly offshore production in the Gulf of Mexico, is significantly lower than foreign alternatives, according to an energy industry report released Tuesday in morning.
The report – by global consulting firm ICF and commissioned by the offshore energy trade group National Ocean Industries Association (NOIA) – concluded that oil production in the US is 23% less carbon-intensive compared to production outside the US. and Canada. And the carbon intensity of drilling in the Gulf of Mexico is 46% lower than the global average.
“There are a lot of countries out there that don’t use their energy in ways that benefit their country like we do,” NOIA President Erik Milito told Fox News Digital in an interview. “They use it in ways that are not good geopolitically in countries like the US, and it becomes a tool that they use to assert their political influence.”
“We have an opportunity for continued leasing, continued permitting, continued reasonable regulations to ensure that our oil production continues to grow,” he continued. “Eliminating US production simply gives that advantage to other countries that are generally recognized as havens of pollution and that use their energy to harm our national security.”
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Milito added that the report is a first of its kind study, outlining greenhouse gas emissions for eight different categories throughout the entire life cycle of oil production. That includes the energy required for the production materials for a well, flirting and venting, compression of natural gas, stabilization of oil, leakage of methane and natural gas for steam and others yet.
In total, the analysis studied the emission profiles of 103 countries, sorted by oil density types, and assessed the sensitivity of methane emissions.
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“From an energy policy standpoint, this includes an all-over energy system, the administration must ensure that we promote all sources with a focus on the continuous reduction of emissions, ” said Milito. “We need all sources. The data makes it clear if you look at the pie chart, we still continue to use all different sources of energy.”
“When you take oil off the market, that raises the price of energy. The Biden administration, the Congress, they have the ability to implement policies to increase or damage the production of oil and natural gas in the US,” he continued. he. “So, let’s make sure we do it smart, knowing we can do it cleaner, we can do it with less emissions than other parts of the world.”
“And we can create a regulatory and tax-based system that ensures we drive investment in renewables while also supporting the oil and gas we’ll need for decades to come.”
The Biden administration, however, has repeatedly targeted the oil and gas industry in furtherance of the climate agenda and the goal of transitioning the economy to green energy. President Biden has pushed for goals of achieving a 50% reduction in greenhouse gas emissions by 2030, an electricity sector with no carbon pollution by 2035 and a net-zero emissions economy by 2050 .
The Department of the Interior has held several onshore fossil fuel lease sales since Biden took office, but it only held auctions after a federal judge issued an injunction blocking the 2021 moratorium. President Biden on new drilling. The agency also failed to hold any offshore lease sales that were not legally mandated.
NOIA prompted the administration to issue a long-awaited and delayed five-year plan for offshore drilling. A proposed version of that plan released last year indicated that the administration would consider blocking all new offshore leasing until 2028.
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At the same time, the Energy Information Administration projected in a report this month that global oil demand will rise to 101.3 million barrels per day in 2023 and 103 million barrels per day in 2024.
And the Biden administration has turned to foreign regimes led by dictators, including Saudi Arabia and Venezuela, for more oil production, even as domestic production is curbed.
“This excellent report reaffirms what we all already know: America’s energy workers are developing our resources better and cleaner than the rest of the world,” said Daniel Turner, the founder and executive director of Power the Future, said in a statement after the NOIA report was published Tuesday.
“Instead of freeing our workers to do more, President Biden has fought production at almost every turn while asking foreign powers for more oil,” Turner added. “American energy workers are the best in the world and Joe Biden, along with his radical environmental allies, should let them get back to work.”