Chris Helman of Forbes writes about EQT, a company that is using fracking to address climate change.
- EQT is a natural gas company that is looking to reduce global greenhouse gas emissions by exporting American LNG to displace coal in developing countries.
- The company is also investing $20 million to replace valves at their well sites with electric valves that leak almost no methane.
- The shift from coal to natural gas has led to America being the world leader in carbon emissions reductions since 2005.
- Private sector innovation is key to addressing global climate change.
“Many environmentalists, and a significant number of politicians, would like to put frackers out of business. Look at the numbers, the Rices retort: The shale gas revolution is the biggest reason annual U.S. carbon emissions have dropped nearly 1 billion tons since 2005, as power plants switch from coal to natural gas. Over the same period, China has increased its annual emissions by 4.7 billion tons, with coal use surging.”
Read the full article here.