The report is based on spending data from representative companies that was used to estimate industry-wide performance. Highlights:
Industry spent about $13 billion in 2011, the report says, including $11 billion to implement new technologies, create cleaner fuels and fund ongoing environmental initiatives. An additional $1.9 billion was spent on research and development, corporate environmental programs and spill remediation efforts. In 2011, 35 percent of industry environmental spending was directed toward cleaner air.
Industry’s upstream (pre-refining stage) sector has spent $46 billion since 1990 (aside from remediation and spills) – almost $4 billion in 2011.
The refining sector has spent $132 billion since 1990 (aside from remediation and spills) – nearly $5 billion in 2011.
Transportation expenditures (mainly pipelines) doubled from 2010 to a record $2 billion in 2011.