wealthnationusa- The Biden administration has issued a final rule aimed at reducing methane emissions from the U.S. oil and natural gas industry in order to tackle global warming. President Joe Biden has been pushing to advance his climate legacy, and the Environmental Protection Agency’s new rule is intended to significantly reduce methane and other harmful air pollutants generated by the oil and gas industry.
EPA Administrator Michael Regan and White House Climate adviser Ali Zaidi announced the final rule at the United Nations climate conference in Dubai, United Arab Emirates. The rule targets emissions from existing oil and gas wells nationwide, rather than focusing only on new wells, and it regulates smaller wells that will be required to find and plug methane leaks. The plan also aims to phase in a requirement for energy companies to eliminate routine flaring of natural gas produced by new oil wells.
The new methane rule will help ensure that the United States meets a goal set by more than 100 nations to cut methane emissions by 30% by 2030 from 2020 levels, according to Regan. The rule will be coordinated with a methane fee approved in the 2022 climate law, setting a fee for energy producers that exceed a certain level of methane emissions. The law allows exemptions for companies that comply with the EPA’s standards or fall below a certain emissions threshold.
The new rule has been commended by health and environmental experts, with Harold Wimmer, president and CEO of the American Lung Association, calling it a victory for public health. However, the oil industry has sought exemptions for hundreds of thousands of the nation’s smallest wells from the pending methane rules.
Unique perspective: It is important to note that while these regulations are a step in the right direction, a comprehensive and collaborative effort from both the government and the industry will be essential to effectively combat climate change and its impact on the environment and public health.
