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US Imposes Methane Fee
The US imposed a methane fee on oil and gas producers to reduce emissions, but its future is uncertain due to upcoming political changes.
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PoliticsUs PoliticsClimate ChangeEnergy SecurityEnvironmentEnergyClimateRegulations
Us GovernmentEnvironmental Protection Agency (Epa)American Petroleum Institute
Joe BidenDonald TrumpMichael Regan
- What is methane's role in climate change, and where does it leak from?
- Methane is the second most prevalent greenhouse gas after carbon dioxide, and it leaks from various points in the oil and gas industry. The Biden administration announced this rule during the COP29 climate conference in Baku, Azerbaijan, highlighting the US's commitment to global methane reduction.
- What are the potential benefits and risks associated with the methane fee?
- The Biden administration's methane fee is part of a broader strategy to improve efficiency in the oil and gas sector, support American jobs, and protect clean air. However, the measure's future is uncertain due to the upcoming Republican-led presidency and potential repeal.
- What is the global context of this US initiative and its future prospects?
- The US has led efforts for a global methane pledge, a voluntary agreement signed by over 100 countries aimed at cutting global methane emissions by 30% by 2030. With Republicans likely taking control of the government after the November elections, the likelihood of the methane fee's repeal increases significantly.
- What is the main purpose of the new methane fee imposed by the US government?
- The US government imposed a methane fee on large oil and gas producers to reduce greenhouse gas emissions. This fee will start at \$900 per metric ton in 2024 and increase in subsequent years, applying only to facilities emitting over 25,000 tons of CO2 equivalent annually.
- What are the estimated emission reductions and the equivalent impact on the environment?
- The EPA estimates the fee will reduce cumulative methane emissions by 1.2 million metric tons by 2035, equivalent to removing nearly 8 million gasoline-powered cars from the roads for a year. The American Petroleum Institute has already urged Congress to repeal the fee.