Natural Gas Leaks: A $30 Billion Opportunity and Global Warming Menace

April 21, 2015 9:49 PM

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Natural Gas Leaks: A $30 Billion Opportunity and Global Warming Menace

A new study released Tuesday suggests that the global oil and gas industries allow as much as 3.6 trillion cubic feet of natural gas — and almost certainly far more — to escape into the atmosphere annually. The leakage rate represents at least $30 billion in lost revenues, the analysis found, and it reinforces previous studies suggesting that the much-touted climate benefits of the expanding shale boom are unlikely to be realized unless these so-called fugitive emissions are brought under control.

While the chief component of natural gas, methane, breaks down in the atmosphere more quickly than carbon dioxide, it has far more planet-warming potential while it is present. The gas escapes from storage tanks and vents at oil production sites, and in even greater amounts all along the natural gas...

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