Is Natural Gas A Petroleum Product – The American oil and gas industry almost always finds itself on the defensive, responding to the constant attacks of the “keep it in the ground” movement. There are many undeniable positives that oil and natural gas bring to society – even from defenders of the oil and natural gas industry.
With calls to “keep it in the ground” gaining more and more mainstream traction, it’s more important than ever to remind people that oil and natural gas are essential to modern life, with their benefits far outweighing their negatives. Here are five examples that every oil and natural gas attorney should know and be proud to share.
Is Natural Gas A Petroleum Product
Access to affordable, reliable energy is directly related to improved living standards and longer life expectancy. This explains why the average life of oil has doubled and the consumption of natural ash has risen over the past century. And as more people around the world gain access to reliable energy, the percentage of the world’s population living in extreme poverty has dropped from 80 percent to below 10 percent for the first time in human history.
Made From Oil And Natural Gas
People around the world currently living in extreme poverty have one thing in common – they do not have access to the modern energy that the rest of the world enjoys and takes for granted. In other words, energy poverty
Extreme poverty Fossil fuels provide more than 80 percent of the world’s energy and greatly improve the quality of life through heating and cooling to reduce the impact of extreme weather, fuel and fertilizers for modern agriculture to bring revolutionary efficiency in electricity and transportation to an exploding population. both productivity and the tools that enable the miracle of modern healthcare have improved (more on that below).
A 2011 peer-reviewed study published in the American Journal of Public Health notes, “Petroleum is widely used in health care – primarily as a transportation fuel and raw material for pharmaceuticals, plastics, and medical supplies. As – and a number of alternatives are available.”
In fact, oil and natural gas are absolutely essential to modern healthcare, literally helping to save the lives of our medical professionals. It is estimated that the average emergency room contains 90 products derived from oil and natural gas. It is also estimated that 80 to 90 percent of medicines are made from petroleum.
Earnings In Perspective
A wide range of medical devices – from pacemakers, heart valves, monitors, ventilators and the 3.5 billion face masks used by medical professionals – are petroleum-based or have critical components derived from petroleum.
About 70 percent of American energy comes from oil and natural gas, and many Americans agree that producing oil and gas here in the United States is far more ideal than importing it from often hostile countries.
Fortunately, the United States has long been closer to energy independence than ever dreamed possible. Data from the Energy Department show that net imports of oil and petroleum products have fallen 95 percent since 2007, while domestic oil and liquids production has increased 148 percent. Despite the ongoing pandemic, the United States is poised to become a net oil exporter annually in 2020 for the first time since 1949.
Just 13 years after being the world’s largest energy importer, the United States is now on track to completely eliminate an energy trade deficit that reached $321 billion in 2011. What was once a glaring national weakness is now a strength, and our geopolitical position has been stronger for decades as a result, thanks to the vexation of hostile nations on whom we once depended heavily for our energy needs.
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Carbon dioxide emissions fell by 15 percent during this period, given that the strong U.S. The energy security benefits of oil and natural gas production are an undeniable net positive for our nation.
Rising US oil and natural gas production has historically been directly linked to economic growth in the country – the past decade is a prime example.
As US oil and natural gas production soared over the past decade, the US enjoyed an unprecedented 11 consecutive years of gross domestic product (GDP) growth before the Covid-19 pandemic. The oil and natural gas boom has been credited with 10 percent of GDP growth since the Great Depression.
This economic prosperity can be largely explained by the fact that strong domestic oil and natural gas production drastically reduces foreign imports, keeping billions of dollars in our own economy instead of being exported. Our newfound energy price has also proven to equate to huge tax cuts, dramatically reducing energy costs. In fact, the Department of Energy reported in 2018 that average US energy costs fell 34 percent from 2008 to 2016, falling from record high levels to “record low energy spending segments” in less than a decade.
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The US oil and gas industry also continues to support more than 10 million jobs in the US, with direct oil and gas industry jobs paying twice the private sector average ($112,712 per year).
Energy is something that all Americans use. And with that basic reality in mind, over the past decade or so we have been able to literally maneuver our way to lower energy prices and economic prosperity by reducing greenhouse gases.
The United States has reduced carbon dioxide emissions more than any other country this century. And while this may surprise casual observers, experts agree that the main reason for these emissions declines is a fuel switch to clean-burning natural gas, made possible by industrial innovation. That’s right: the same technologies that allowed us to emerge as the world’s leading producer of oil and natural gas are also largely responsible for our status as a world leader in reducing greenhouse gases. The trend of separation is unprecedented and shows that we do not have to choose between the economy and the environment.
Emissions reductions have been driven by fuel switching in the power generation sector, with the Energy Information Administration estimating that natural gas actually accounts for 58 percent more power sector CO2 emission reductions than renewables and other non-carbon power generation sources.
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Illinois Governor JB Pritzker recently called the oil and natural gas industry “vital,” echoing the sentiment of governors across the country. As the above five examples show, Pritzker’s name was certainly vindicated. Oil and natural gas provide clear positive benefits to society, improving the quality and length of life by improving modern health care and promoting economic prosperity. Strong US oil and natural gas production has also greatly reduced our dependence on hostile foreign countries for our energy needs and has played an important role in enabling us to reduce greenhouse gas emissions.
These are just a few examples of why the “Keep It in the Ground” movement’s goal of destroying this vital industry is a threat to our nation’s public health, economy and overall safety. A lock (LockA closed padlock) or https:// means you are securely connected to the .gov website. Share sensitive information only on authorized, secure sites.
The GHGRP covers emissions from various aspects of the oil and gas industry across its various components. Click on a number in the image below to learn how the GHGRP addresses emissions from the various stages of oil and gas extraction, production, transportation and use.
Each owner or operator of onshore oil and natural gas production wells and related equipment reports under subpart W the combined emissions for all wells they own or operate within each hydrocarbon basin. Emissions from stationary and portable fuel burning equipment are reported under “Subpart W” of the GHGRP.
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Emissions from offshore oil and natural gas production are reported under Subpart W of the GHGRP for each platform. These facilities also report emissions from fossil fuel combustion under subpart C.
Each refinery reports all crude oil, natural gas liquids and bulk petroleum products that enter the refinery for processing or other use.
Each refinery reports direct emissions from refinery-specific processes under subpart Y of the GHGRP and emissions from fossil fuel combustion under subpart C. Some refineries from other sources such as hydrogen production (Subpart P), petrochemical production (Subpart X) and industrial waste landfills (Subpart TT ).
Suppliers of Petroleum Products. Refineries and importers/exporters of petroleum products report as suppliers of petroleum products under subsection MM of the GHGRP. Those suppliers do not report direct emissions under subpart MM, but instead report CO emissions.
Positive Us Oil And Natural Gas Facts Everyone Should Know
It will be released if the fuel produced, imported or exported each year is burned, released into the atmosphere or oxidized. Learn more about Reported CO
Onshore oil and natural gas gathering and boosting means the installation of pipelines to collect oil and/or natural gas from onshore production wells and compress the gas and transport it to a natural gas processing facility, transmission pipeline, or distribution pipeline. A collection of other accessories. In 2016, owners and operators began collecting information on this source category to report the combined emissions for all gathering and boosting equipment they own or operate within each hydrocarbon.
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