The White House Office of the Press Secretary announced that the Obama Administration is committed to taking responsible steps to address climate change and to help ensure a cleaner, more stable environment for future generations. As part of that effort, today, the Administration is announcing a new goal to cut methane emissions from the oil and gas sector by 40 to 45 percent from 2012 levels by 2025, and a set of actions to put the U.S. on a path to achieve this ambitious goal. U.S. oil production is at the highest level in nearly 30 years, providing important energy security and economic benefits. The U.S. is also now the largest natural gas producer in the world, providing an abundant source of clean-burning fuel to power and heat American homes and businesses.
Continuing to rely on these domestic energy resources is a critical element of the President energy strategy. At the same time, methane the primary component of natural gas is a potent greenhouse gas, with 25 times the heat-trapping potential of carbon dioxide over a 100-year period. Methane emissions accounted for nearly 10 percent of U.S. greenhouse gas emissions in 2012, of which nearly 30 percent came from the production transmission and distribution of oil and natural gas. Emissions from the oil and gas sector are down 16 percent since 1990 and current data show significant reductions from certain parts of the sector, notably well completions. Nevertheless, emissions from the oil and gas sector are projected to rise more than 25 percent by 2025 without additional steps to lower them. For these reasons, a strategy for cutting methane emissions from the oil and gas sector is an important component of efforts to address climate change.
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