PESA has released the following statement from Vice President Government Affairs Tim Tarpley regarding the House passing HR 4447, the Clean Energy and Jobs Innovation Act.
“While PESA was pleased H.R. 4447 included some funding for oil and gas research, including $1.5 billion for carbon capture technologies, this made up a small percentage of the total of the bill, which we see as a lost opportunity. The world’s next energy transformation is underway, and the transition to a lower carbon energy future will require resources, ingenuity and investment from all sectors of the energy industry. Oil and gas will be an integral part of this transition.
The shift in the United States to building natural gas power plants to replace older coal generation has led to the reduction of more than 2.8 billion metric tons of carbon dioxide emissions since 2005, making it the largest source of energy-related carbon savings, according to recent data from the Energy Information Administration.
The men and women of America’s oilfield services and equipment sector have a long history of delivering the innovative technologies that drive efficiency, improve environmental performance and lift billions out of energy poverty. We are a partner on the path to a lower carbon future, and we look forward to working with lawmakers to continue on the mission of delivering clean, safe and affordable energy to the world.”