The University of Massachusetts Amherst recently released a couple of inaugural lists regarding fossil fuels: One names the top companies that supply fossil fuels to the U.S. economy, and another lists the facilities where they end up.
Texas, Wyoming, Louisiana, California and Illinois top the Greenhouse 100 Suppliers State List for the quantity of greenhouse gas emissions from fossil fuels supplied within their borders. Florida ranks No. 34.
The lists were co-created by Michael Ash, a professor of Economics and Public Policy at the University of Massachusetts Amherst, using data from the U.S. Environmental Protection Agency.
Ash said what surprised him the most is how concentrated the industry is.
He said the top 10 companies alone are responsible for about 30% of greenhouse gas emissions in the country: Marathon Petroleum, Phillips 66, Valero Energy, Exxon Mobil, Peabody Energy, Chevron, Arch Resources, Enterprise Products Partners, PBF Energy, and PDVSA (Petroleos de Venezuela S.A.).
And the top 50 account for about 70%, so Ash said this data shows the possibility of a solution to the burning of fossil fuels to create energy, which leads to heat-trapping greenhouse gases.
"The financial and distributional consequences of supply interventions like regulating or carbon pricing or even a fossil fuel buyout, are highly concentrated, so shareholders using our lists might be interested in assessing their financial portfolios in terms of fossil fuel and greenhouse gas involvement," he said.
He said overall, Florida is not a very big introducer of fossil fuels into the U.S. economy, like its Gulf neighbors Louisiana and Texas, but it is a big emitter.
The parent company for Tampa Electric and TECO Peoples Gas, called Emera, is the top introducer of fossil fuels into Florida's economy.
Also, Tampa Electric, Clearwater Gas System and Springhill are in the top ten list for fossil fuel facilities.
Ash said he hopes this list will become a planning tool for residents.
“For communities that want to think about improving their greenhouse gas performance, and for communities that want to think about what a fair and just transition will look like, for the people who are displaced if there is a big reduction in fossil fuel activity. This locates the economic activities,” he said.
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