Greater Energy Efficiency; Lower CO2 Emissions

Indeed, the American Petroleum Institute's (API) Climate Action Challenge, a voluntary greenhouse-gas-emissions reductions program, has as its centerpiece a commitment by its member refiners to improve their energy efficiency by 10% between 2002 and 2012. A recently released progress report by the association says member companies are on track to reach that goal.

Russell Jones, API research manager, said the program was developed in response to the Bush administration's push for voluntary programs to address climate issues.

"Our members thought it was important to participate in a voluntary way, to look for low-cost, cost-effective opportunities to reduce emissions. It matches very well with energy-efficiency concerns that our members have always had.

See Also... Gentle Persuasion: The Upside Of CO2 Cuts Manufacturers Achieve Emissions Goals CO2 Regulation On The Horizon? Web Exclusive

"The oil and gas industry uses a whole lot of energy," Jones points out. "According to [Department of Energy] statistics, something like 45% of the operating cost of a refinery, excluding raw materials, are energy related."