The world will continue to rely on hydrocarbon resources to grow our economies while transitioning to sustainable energy future - and we, must first create adequate supply capabilities to ensure the transitions are viable over the long term.
To achieve this, we will need to continue to develop known reserves of oil, coal and natural gas: and optimize the use of current hydrocarbon supplies. For example:
- New domestic natural gas sources, such as shale gas, will be an important resource for the United States. Production improvements are needed for to ensure the potential reserves can be brought to market in an environmentally acceptable manner at an affordable cost.
- Carbon Capture and Storage (CCS) – Coal provides more than 50 percent of the electric power in this country, and call for more sustainable uses. Dow is developing cost-effective CCS technologies that reduce carbon emissions and is promoting strategies that “put CO2 to work.”
Dow technologies can help lead the way toward making traditional energy sources more environmentally responsible. Dow conservation and energy development solutions are beginning to develop answers for the cleaner use of fossil fuels.
Dow calls for:
- Policies that include measures to first ensure reliable access to natural gas supplies
- A new political consensus on offshore oil and gas production that is both environmentally responsible and accesses significant resources
- Policies that recognize and promote the value add of hydrocarbon feedstocks and ensure there are no penalties for fossil energy used as a feedstock material
- The federal government to provide direct loans and other assistance to demonstrate commercial scale carbon capture and storage (CCS) viability and other carbon sequestration strategies