Market Solutions for Climate Change

In an age when environmental awareness is really beginning to take hold in federal government and private industry, so many factors must be considered in the effort to reduce the global emissions of green house gasses. There is much deliberation within the government on this subject, including the evaluation of potential economic risks or possible consumer hardships that may come from the wrong approach to solving the problem. The Natural Gas Supply Association, or NGSA, encourages massive voluntary efforts of problem solving regardless of governmental policy decisions, such as targets for reducing emissions as well as enhancements in technology.
The NGSA plans to focus on such policy discussions that involve more stationary emissions, which is a completely separate issue apart from mobile emission efficiency. It also claims to support the policies devised by the American Petroleum Institute, regarding the prevention of any damage to the economy that may occur due to ineffective policies or unrealistic goals. The most dramatic affect the natural gas industry can create is by pipeline companies, such as western pipeline corporation, continuing to supply clean-burning natural gas and constantly increase exploration and production efficiency. This strategy is very similar to the current strategy, which is based on demand and competition. Because natural gas is such an efficient and clean fuel source, the capitalistic drive of private companies should naturally improve our greenhouse gas situation.
Other initiatives involving the industry will insure our progress in climate change. The NGSA suggests that a global coordination, creating an international market flow, will increase the efficiency and supply of natural gas. Also, a consistency of standards and goals should be established nationally. It is the belief of the NGSA that there must also be more natural resource access, to prevent a cost inflation as the price of natural gas increases. Basically, the NGSA would like to see market based solutions to insure the protection of the consumer as well as the climate. Any regulations that stifle the industry to0 much and too soon are liable to hurt consumers in the pocketbooks and crash the economy.
In the past, the federal government as found market solutions to be the best solution to natural gas regulation. Encouragement from the government for new technology, and incentives for further efficiency are more likely positively impact the industry. Existing regulations should remain consistent, while market incentives for emission reduction increase. It may eventually be determined that the efficiency emission becomes the principle factor rather than actual fuel production.

About the Author: Bob Jent is the CEO of Western Pipeline Corporation. Western Pipeline Corp is a successful, private independent producer of oil and natural gas.