In a speech today at Northwestern University, President Obama once again touted the clear benefits associated with tightly-regulated shale development, stating: “Today, the number one oil and gas producer in the world is no longer Russia or Saudi Arabia; it’s America. … Meanwhile, our 100-year supply of natural gas is a big factor in drawing jobs back to our shores.”

The president is absolutely right. And while America is becoming increasingly more competitive economically as well stronger geopolitically thanks to our abundant shale resources, two new studies issued this week further reflect that this development is tightly-regulated and well-managed, leading to air quality improvements – as well as less water use, greater transparency, and more revenue for local communities.

On Tuesday, the U.S. Environmental Protection Agency (EPA) released its 2013 greenhouse gas reporting data. Here are key highlights from EPA’s report:

  • Reported methane emissions from petroleum and natural gas systems sector have decreased by 12 percent since 2011.
  • The largest greenhouse gas reductions (GHG) are coming from hydraulically fractured natural gas wells, which have decreased by 73 percent during the same period.
  • EPA expects to see further emissions reductions as the agency’s 2012 standards for the oil and gas industry become fully implemented.

The Pittsburgh Tribune-Review reports this under the headline “EPA says greenhouse gas releases from wells, pipelines decline”:

The U.S. oil and gas sector reduced greenhouse gas emissions from well sites, pipelines and processing facilities last year despite the industry’s continued growth, EPA said Tuesday. Use of technology and improvements in hydraulic fracturing techniques in natural gas production led the way, accounting for a 73 percent decrease in methane released by that process since 2011, the EPA said. The industry as a whole reduced methane emissions by 12 percent in two years, even as the number of sources reported to the government grew by 13 percent.

The methane numbers continue a five-year trend in reductions that the EPA expects to continue with implementation of a 2012 rule requiring “green completions” of wells. Drillers must capture gas stored in flowback — the liquids that return to the surface during drilling and fracking — which prevents its release into the air.

And yesterday, the Ground Water Protection Council issued a report titled “State Oil & Gas Regulations Designed to Protect Water Resources: 2014 Edition,” which states that regulatory agencies in 27 U.S. states that produce 98% of the nation’s oil and natural gas have significantly increased exploration and production oversight and rules. This from Oil & Gas Journal:

“Since our 2009 report, states have continued to update and strengthen their rules addressing the critical areas in nearly every subject area we examined,” GWPC Executive Director Mike Paque said. “In addition, state oil and gas regulatory agencies have adopted new practices to address the technological, legal, and practical changes in exploration and production,” Paque said.