RPSEA was founded by a consortium of the nation's premier energy research universities and research organizations to meet these key energy challenges:
I. The Growing Demand for Petroleum
The Energy Information Administration (EIA) forecasts a nearly 100% increase in US domestic natural gas consumption by 2025 and a global increase of 89% over the same period. Over 55% of the crude oil and products used in the
II. Accelerated R&D Requirements
The Energy Policy Act of 2005 includes significant funding for accelerated R&D in the oil & gas industry.
III. New Models for Government/Private Sector R&D Collaboration
Technology improvements are particularly important, noted the Congress, given the difficult conditions accompanying new resources. The government plans to invest in research and development through collaborations with industry, state organizations, national laboratories and universities.
To address these challenges, RPSEA has leveraged its research dollars and the technical experience of its members to fund critical, high-impact research to meet the supply needs of
- Reduce the cost of exploration and production of ultra-deepwater and unconventional natural gas;
- Expand and extend the nation's gas resource base; and
- Mitigate the environmental impacts of energy production in these regions.