US oil industry seen playing key role in greenhouse gas emissions cuts

US producers may be able to help reduce greenhouse gas (GHG) emissions and boost domestic oil production by expanding enhanced recovery methods, policymakers said in a recent report.A work group organized by the Interstate Oil and Gas Compact Commission and the US Department of Energy plans to study potential uses for carbon dioxide sequestration within the oil industry.Oil companies currently pump about 32 million tons/year of CO2 into oil or natural gas reservoirs to boost production. The gas also has the potential to efficiently displace methane-rich natural gas from deep, unmineable coal seams, IOGCC said.IOGCC said that CO2 accounts for about 81% of greenhouse gases, "and concentrati...

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