ENV-06-177 Cost Effective Actions to Mitigate the Impact of a Climate Change Policy

Description:

One of the most controversial and complex environmental policy challenges facing the United States—and the world—is the issue of climate change. EPA’s most recent national inventory indicates that energy accounts for 86% of the greenhouse gas emissions in the United States (EPA, 2004). And yet, America’s economy, and the economic stability of the world as well, depend on safe, affordable and consistent energy supplies. The challenge that we face is how to meet the energy requirements of our nation and the world without adversely impacting environment. As the petroleum industry has risen to this challenge in the past, so it will with climate change. This paper examines options for reducing greenhouse gas emissions starting from a global perspective and then narrowing to focus on activities relative to petroleum refinery and petrochemical operations.