Our Role in the Energy Transition
Policy makers define the energy transition as the transformation of our global energy sector from fossil-fuels to zero-carbon fuel by the second half of the century. The goal being to reduce energy-related carbon dioxide (CO2) emissions and its contribution to climate change.
As a service company to the oil and gas industry, DWS may be viewed as part of the problem. That could not be further from the truth. Our innovations have contributed dramatically to improved, safer, and more environmentally-friendly modes of operation. We understand the challenge of addressing the energy transition and how our company serves to contribute to the complex economic, social, and environmental issues we face today.
We also understand how important oil and gas is to our way of life. The oil and natural gas industry support approximately 10 million jobs in the United States and constitutes nearly 8% percent of our country’s Gross Domestic Product (GDP) according to the American Petroleum Institute (API). The growth of our oil and gas industry has permitted the United States to be a net exporter of oil and gas rather than being dependent on imports. We have shortened the energy supply chain, strengthened our economy, and are no longer reliant on nations that do not share our best interests or our commitment to sustainable resource development, environmental stewardship, and safe non-exploitive labor practices. This gives us the opportunity to export our resources and best practices thereby reducing the negative impact to our global environment.
DWS is playing a significant role in helping meet our country’s energy and resource demands. In fact, our mission states, “Proudly helping America become energy independent.” We take our mission very seriously.
In 2020, our customers and the energy mix they are producing represents approximately 90% natural gas. This represents an increase demand for cleaner burning natural gas as a primary energy source and a move away from the higher carbon emissions from coal. In fact, natural gas emits between 45% and 55% lower greenhouse gas emissions than coal and emits less than one-tenth of the pollutants when used to generate electricity, according to IEA data. By switching from coal to cleaner burning natural gas, we continue to cut emissions and transition our energy landscape.
Natural gas is helping support the growth of renewable energy by serving as a safe and reliable source of baseload power. Given the intermittent nature of renewables, such as solar or wind, and the lack of energy storage at scale, cleaner burning natural gas is serving our baseload power needs allowing renewables to evolve and improve. In fact, according to U.S. Energy Information Administration (EIA) the transition from coal to natural gas has reduced carbon emissions by 28% since 2005.
To date, DWS has serviced over 3,000 wells. We learn and improve with each one.
“It is important that we acknowledge our role as a key contributor to our nations industry independence. Our services not only improve performance, but reduce energy consumption, and lessen the impact to our environment. That in turn makes our contribution to domestic energy production competitive with the rest of the world. This is especially true as we transition to clean burning natural gas and move away from coal.”
John Sabo, VP, Business Development