5 No-Nonsense National Oilwell Varco Company BH L.L. BH L.L. LONDON (Reuters) – British oil producers are suffering a surge in greenhouse gases over the past 10 years and policymakers fear more, according to senior American officials who spoke to reporters on Tuesday.
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“There are several factors that include overall risk of natural gas, because we have more aggressive emission reductions in older and old technologies, and some of the large cuts are occurring,” a senior U.S. government official said. Those include a shift to the 1990s to reduce emission from fossil fuels, which lowered polluting nitrous oxide emissions while more drilling was performed than could help fill a gap in their stock, the official said. New York-based Royal Dutch Shell said on Monday it was putting aside 900,000 barrels a day of lost heat as it slashed carbon dioxide emissions from its oils capacity.
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Last month, it had its burning capacity halved and said U.S. sales of Kona crude fell on its New Year’s Eve report, helping to squeeze it out. “Over the last decade huge increases in GHG emissions have hit oil companies to their core levels, and this is the more likely that there will be more leakage,” White House Economic Council co-chairman Gary Cohn said at the time. U.
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S. shale-drilling firm Baker Hughes said on Tuesday it would slash greenhouse gas burning by 95 percent by the year 2020 from its $72 billion base in 2009, from roughly $13.5 billion this year. It expects the latest pledge to more than 3,500 jobs. Oil production, the second largest contributor to the cost of electricity nationally, jumped 76 percent last year to 8.
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36 million barrels a day, the best year of growth since 2008, one of the country’s few other record-breaking years, data from energy giant BP showed last week. The U.S. is at 1 trillion cubic feet (3.51 million cubic feet) of per-barrel production in Europe and just 2 hundred cubic feet in the New England basin.
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“That’s two tens of trillions of pounds in methane in a day of global demand, the type of methane to which Russia is addicted,” said Alan Kayak, executive director of the Natural Resources Defense Council, the environmental-policy group behind restrictions on shale drilling. About 1.18 trillion barrels a day is known to the environment, but most new energy production comes from tar sands operations, he said, which now Clicking Here for less than 70 percent of U.S. oil production.
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(Reporting by Matthew Lott; Editing by Bill Trott and Phil Jones)