The biggest emitters among oil and gas producers, especially of potent methane, are smaller, often privately-held companies whose pollution relative to the size of their production handily tops their publicly-traded major competitors.Large producers are still responsible for significant amounts of emissions, however,, new research released Wednesday shows. The top seven producers in the U.S. oil and gas industry alone accounted for a quarter of total reported greenhouse gas emissions.
Hilcorp did not immediately reply to a request for comment. A spokesperson told the New York Times that the company “spends substantial capital retrofitting and refurbishing aging equipment” including what it has acquired. “The oil and gas companies that minimize and most effectively manage their emissions will be best positioned to survive the transition to a net-zero emissions future,” said Andrew Logan, senior director of oil and gas at Ceres.
Methane is a powerful greenhouse gas with a 100-year global warming potential 28-34 times that of CO2. Measured over a 20-year period, that ratio grows to 84-86 times. About 60% of global methane emissions are due to human activities.
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