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API: Lieberman-Warner bill could reduce domestic gas supply

05/12/2008
A climate change bill headed for the US Senate floor in early June could greatly reduce domestic natural gas production and send refining production and jobs overseas, according to a new report commissioned by the American Petroleum Institute.ICF International report, which API released May 5, says that S. 2191, which Sens. Joseph I. Lieberman (I-Conn.) and John W. Warner (R-Va.) introduced Oct. 18, 2007, would raise the $25,000 estimated annual cost of operating a domestic gas well by some $12,500/year by 2012 and $25,600/year by 2030 because producers would be required to buy greenhouse gas (GHG) emission allowances.Even though methane emissions from upstream oil and gas operations repr...
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