A study from the Canadian Energy Research Institute suggests the oil and gas industry could save billions of dollars if governments implement optimized methane emission reduction regulations instead of requiring the same level of cuts at every emitting source.
CEO Allan Fogwill says CERI’s study examined three scenarios, one in which all possible means were employed to reduce all emission sources, one which required every methane emitter to cut by the 45 per cent amount, and one where emission cuts were implemented on a best-bang-for-the-buck basis.The first exceeds the target, resulting in an emissions reduction of 35 million equivalent tonnes of carbon dioxide per year but at a cost of $3 billion to $5.5 billion to implement.
CERI is partly funded by the Canadian Association of Petroleum Producers – along with the federal and Alberta governments and others. Its findings support a recommendation by CAPP that industry be allowed the discretion to make methane reductions on a cost-effective basis.
globebusiness Save polluting corporations billions of dollars or save billions of tons in emissions? Priorities people...priorities
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