Boost U.S. Oil & Gas to Meet Global Emissions Targets?


Aug 25, 2022

Boost U.S. Oil & Gas to Meet Global Emissions Targets?

Business titan Jamie Dimon, CEO of JPMorgan Chase, says American oil and gas can help other countries reduce dependence on dirty fuels like coal, which will reduce global CO2 emissions.

Secure Cleaner Energy

In a message to shareholders, Dimon said "national security demands energy security for ourselves and for our allies overseas," noting that "using gas to diminish coal consumption is an actionable way to reduce CO2 emissions expeditiously."

Coal as a fuel source produces twice the CO2 of natural gas, and the changeover from coal to gas for electricity generation is a large component of CO2 emissions reductions in the U.S.

Plan for Production

Dimon added that the U.S. needs immediate approval for oil leases and gas pipelines, in conjunction with green energy projects, to provide energy security and reach climate goals.

In a March conference, Dimon encouraged the White House to both create a comprehensive development framework for boosting U.S. energy production to reduce dependence on imported oil, and to invest in hydrogen power and carbon capture technologies. The Russian invasion of Ukraine has sharpened international concerns about access to energy.

Build on Progress

Many U.S. natural gas producers are successfully monitoring, measuring, and cutting emissions in operations and infrastructure: Harnessing technology to further reduce emissions of current and future energy production is key to reaching net-zero goals.

American natural gas provides reliable, reasonably priced power, promotes energy security, and supports climate protection at a global scale.

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