Wednesday, May 21, 2014

Well Power, Inc. (WPWR) in Advantageous Position to Reduce Gas Flaring and Associated Environmental, Health Threats

Gas flaring is the controlled burning of excess gas in oil production. The process is easily recognizable as tall cylindrical stacks belching plumes of fire in areas of oil activity or by glowing red lights dotting the earth as seen from satellite images. Using satellite technology, the National Oceanic Administration Association (NOAA) reports that gas flares collectively pump 400 million tons of carbon dioxide into the atmosphere worldwide each year – the equivalent of emissions from 77 million cars.

As one might expect, when global oil production increases, gas flaring follows suit. As of 2012, the United States was the fifth leading contributor of gas flaring, falling behind Russia, Nigeria, Iran and Iraq, according to the NOAA. Furthermore, World Bank data shows that U.S. gas flaring has increased 223% in the last five years.

While oil and gas companies find that burning off excess gas is more cost-effective than building infrastructure to capture, utilize or get the gas waste to market, the environmental impact of this increase is alarming. Environmental degradation associated with gas flaring has been shown to have significant impact on local populations. The Journal of Environment Pollution and Human Health is one of innumerable reports that link gas flaring to severe health issues such as cancer, lung damage, skin problems and deformities in children, as well as the loss of livelihood due to subsequent acid rains and loss of agriculture due to contaminants in the air and soil.

The Global Gas Flaring Reduction Partnership (GGFR) offers several solutions to reduce gas flaring and its hazardous impacts; among them: invest in infrastructure to minimize flaring and implement policies and regulations such as increasing the cost of flaring by fining and taxing the process.

Responding to increased awareness and lobbying for action, some states are considering implementing tax royalties to companies willing to use green initiatives to collect and reduce the amount of gas being flared.

In Texas, Houston-based Well Power, Inc. has secured the licensing rights to Texas, with the first right of refusal on the other U.S. states, to a new technology solution to process waste natural gas such as flared gas into “clean power” and engineered fuels.

The company’s plan is to be able to provide its technology in conjunction with full-service engineering, design, construction, modular fabrication, and maintenance and construction management services. Well Power will also offer consulting services, process assessments, feasibility studies, technology evaluation and project finance structuring, among other services, to clients in the upstream areas of exploration and production.

The amount of flared gas in the United States has doubled since 2000, and Well Power is advantageously positioned to offer its solutions to companies exploring options to reduce gas flaring emissions.

For more information, visit www.wellpowerinc.com

About QualityStocks

QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. We offer several ways for investors to find, evaluate, and learn more about investing in these companies.

Sign up for “The QualityStocks Daily Newsletter” at www.QualityStocks.net

The Quality Stocks Daily Blog http://blog.qualitystocks.net

The Quality Stocks Daily Videos http://videocharts.qualitystocks.net

 The Quality Stocks “Ones to Watch” http://gotstocks.qualitystocks.net


Please see disclaimer on the QualityStocks website: http://disclaimer.qualitystocks.net

No comments: