Energy Exchange

UN Special Report confirms urgent need to reduce methane emissions

The latest UN IPCC report makes it crystal clear that carbon dioxide (CO2) is not the only pollutant that matters for limiting future warming.

Deep reductions in emissions of non-CO2 pollutants, particularly methane (CH4), are essential to staying below temperature targets, and have the added benefits of improving public health, food security, and ecosystems.

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Also posted in Climate, Methane / Comments are closed

California’s move to cut utility gas leaks is a critical part of moving towards a low carbon future

As shown by the recent special report from the Intergovernmental Panel on Climate Change, emissions from fossil fuel combustion in California and elsewhere present dire consequences for the planet. This means California, like the rest of the world, must take real steps now to shift toward a low carbon future.

Similar to many other developed economies, California has a vast oil and gas delivery infrastructure that is integrated into its modern way of life – a system that supports the combustion of fossil fuels in nearly every corner of society. As a result, making dramatic shifts toward a carbon neutral economy as envisioned in a recent executive order by Governor Brown will take a lot of investment. While this investment is underway, it’s appropriate to also make sure the system that delivers energy to homes and businesses is as environmentally benign as possible.

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Also posted in Aliso Canyon, California, Gas to Clean, General, Methane / Comments are closed

Three things to know ahead of EPA’s oil and gas wastewater meeting

Tomorrow, the U.S. Environmental Protection Agency (EPA) will hold a special meeting to update the public about what the agency has learned since launching an examination into our nation’s current practices for handling wastewater from the oil and gas industry.

This research endeavor comes at a very salient time. The volume of wastewater generated by onshore oil and gas development is growing larger by the day – with production reaching nearly 900 billion gallons a year. This massive influx is forcing states, companies and other stakeholders to seriously think about whether our current methods for handling this wastewater are the best methods for the future based on a number of shifting dynamics.

The meeting tomorrow will allow agency officials to provide updates about what they’ve learned so far, and will give energy experts and other interested stakeholders the opportunity to weigh in with additional intel and perspectives. Here are three things to keep in mind ahead of tomorrow’s hearing. Read More »

Also posted in produced water, Water / Tagged | Comments are closed

Why New Mexico shouldn’t rush toward repurposing oilfield wastewater

The Environmental Protection Agency (EPA) and the state of New Mexico recently announced an agreement to create a working group to explore the regulatory landscape regarding potential new options for managing oil and gas wastewater.

In 2017, New Mexico’s oil and gas operators produced nearly 38 billion gallons of wastewater – also known as “produced water.” In drought-prone New Mexico, the prospect of critical water shortages is very real and it may be tempting to repurpose this water for other uses.  However, produced water can contain hundreds of potentially toxic chemicals, making the management of this waste stream extremely challenging.

This new working group should proceed with caution so their examination doesn't lead to new problems.

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Also posted in produced water, produced water / Tagged | Comments are closed

Harvard Management Company discusses challenges, opportunities for reducing methane emissions in oil and gas industry

Last month, we had the opportunity to speak about methane and ESG (Environmental, Social and Governance) investing with Michael Cappucci, Senior Vice President of Compliance and Sustainable Investing at Harvard Management Company (HMC). An early leader in ESG investing, HMC was the first U.S. university endowment to sign the UN-supported PRI ESG investing initiative in 2014.

HMC manages the university’s $37 billion endowment and believes ESG risks can have indirect and direct impacts on a company’s performance. Part of HMC’s work with Principles for Responsible Investment (PRI) includes co-leading a group of institutional investors examining the global efforts underway to limit methane emissions and the opportunities to increase their effectiveness. As HMC’s representative to that group, Michael explains below why methane is a risk for all investors and how far the industry has come in just a few short years. Read More »

Also posted in Methane / Comments are closed

What to watch for as methane targets become the new normal

Last October, the 10 CEOs of major oil and gas producers, including BP, China National Petroleum and Saudi Aramco, announced an aspiration to reach near zero methane emissions from their companies’ natural gas value chains. They pledged, as part of their participation in the Oil & Gas Climate Initiative (OGCI), to work together on a target that would deliver on this future by the time they reconvened for their next annual event.

Because that anniversary is right around the corner, it’s timely to revisit an analysis EDF released this year – with support from several leading investors and industry experts –that lends key criteria for companies to craft robust methane targets, and for stakeholders to evaluate them.

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Also posted in Methane / Comments are closed