According to John Kerry, the climate envoy for Vice President Joe Biden, the natural gas industry has only a decade at most to address the emissions that are dangerously raising the Earth’s temperature.
John Kerry said Thursday that the oil and gas industry may continue to operate as it is, but with the capability of fully capturing all of its emissions, including carbon dioxide and methane. Time is running out according to what he said in the interview.
On the other hand, if you can reduce emissions “actually and honestly,” says Kerry, who serves as Vice President Joe Biden’s global climate change envoy, as well as Biden’s point person on related trade problems.
It’s time to put the industry on notice: You’ve got six to ten years to come up with a way to capture and if you don’t, we’ll have to deploy different kinds of energy,” the former presidential candidate said, said the New York Times.
The fuel is gas.
a gain of 13.3%
With half of the nation’s electricity infrastructure now powered by natural gas rather than coal, the sector sees its position as a “transition” energy source toward a more sustainable future.
Nobody should be making it simple for the gas interests to build out 30- or 40-year infrastructure,’ he said.
— The late Senator from Massachusetts, John Kerry
There has been some reduction in emissions through better monitoring, but the sector is pursuing carbon capture. Capture is the process of storing and reusing carbon after it has been burned in order to generate new energy.
In addition, the industry envisions green hydrogen being pumped through the existing pipeline system in the future. Commercialization and scalability of the underlying technologies are still a ways off. Chevron
It dropped by 4.61 percent
As well as other large energy companies have invested in carbon capture startups.
When burnt to generate power, natural gas emits half the greenhouse gas emissions of coal.
To meet the science’s objective of cutting emissions by at least 45 percent between now and 2030, “I’ll take that 50 percent decrease for the next eight years,” Kerry said.
We can’t close these because of the jobs, investors, and other factors, but no one should make it easy for the gas companies to create an infrastructure that will last 30 or 40 years.
The administration’s recent efforts to maintain U.S. oil in production have been called into question.
An additional 0.08%
and gas flowing in the face of soaring inflation and the upheaval caused by Russia’s invasion of Ukraine. The Strategic Petroleum Reserve has been opened and the EPA’s limits on ethanol have been temporarily eased.
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After a Louisiana federal court injunction, the government also stated that lease auctions for oil and gas drilling on federal land can restart.
It’s also possible that the Interior Department will decrease the acreage accessible for leases and levy greater royalties on the oil or gas produced there, just like private land.
Since the Russian invasion, natural gas futures prices have risen by more than 150 percent, and oil has generally remained above the $100-a-barrel threshold.
For the next two days, Vice President Joe Biden will be in the Pacific Northwest, where he will reveal more initiatives his administration expects to take to cut U.S. greenhouse gas emissions in half by 2030, on a road toward net-zero emissions by 2050.
According to a White House official, President Obama plans to use his trip to help rekindle congressional enthusiasm for a climate-focused spending measure called Build Back Better or to advance “green” provisions on their own.