The American Petroleum Institute welcomes clean energy funding

Yoana Cholteeva 16 February 2021 (Last Updated February 16th, 2021 17:36)

The American Petroleum Institute (API) welcomed new clean energy research and development funding announced by the US Department of Energy (DOE).

The American Petroleum Institute welcomes clean energy funding
API believes that beneficial strategy for the US would be to maintain a strong domestic energy sector while working to achieve its environmental goals. Source: Erich Westendarp from Pixabay

The $100m funding, announced under DOE’s Advanced Research Projects Agency-Energy programme, aims to identify and develop innovative technologies to further reduce greenhouse gas emissions and tackle climate change.

API president and chief executive officer Mike Sommers said: “Our country has made incredible strides in reducing emissions to generational lows while producing affordable, reliable, and cleaner American energy. We are pleased to see the Biden administration investing in innovation to build on this progress and tackle our climate challenges.

“Our industry is committed to working with this administration on developing ground-breaking technologies, as well as prioritising modern infrastructure investments to safely and responsibly deliver American energy.”

API believes that beneficial strategy for the US would be to maintain a strong domestic energy sector while working to achieve its environmental goals.

Over the past decade, the oil and gas industry has provided low-cost natural gas, while reducing carbon dioxide emissions in the electric power sector and addressing methane emissions.

Methane emissions have declined by nearly 70% between 2011 and 2019 in five of the largest US producing regions, according to the Environmental Protection Agency’s new Greenhouse Gas Reporting Program data.

API supports DOE’s commitment to research and development in areas where its members are already investing to find innovative energy solutions, such as: direct air capture and carbon capture, use, and storage; decarbonisation infrastructure, such as carbon dioxide pipelines; sustainable and efficient fuels; and lower cost, low-carbon hydrogen.

Last week, the DOE revealed that it will also participate in the National Climate Task Force’s Climate Innovation Working Group announced by the White House.

The working group will coordinate federal government efforts to foster new and affordable technologies that can help America achieve the president-endorsed goal of net-zero economy-wide emissions by 2050, as well as building domestic clean energy supply chains across the country.