The Biden administration introduced finalized regulations aimed at curbing methane emissions in the US oil and gas industry, announced during the UN COP28 climate change conference in Dubai. These regulations, in development for two years, form part of a global initiative to reduce emissions contributing to climate change, aligning with a commitment made by 150 countries to cut methane emissions by 30% from 2020 levels by 2030.
Methane, often unnoticed, leaks from various oil and gas equipment and has potent warming potential compared to carbon dioxide, necessitating efforts to mitigate its release for immediate climate impact.
US officials highlighted these regulations as vital for meeting international climate commitments while enhancing air quality nationwide. Vice President Kamala Harris showcased the regulations as a testament to the US's renewed global leadership in climate action.
The Environmental Protection Agency (EPA) outlined new standards to prohibit routine natural gas flaring from newly drilled oil wells, mandate leak monitoring at well sites and compressor stations, and implement a program utilizing third-party remote sensing for detecting significant methane emissions from "super emitters."
These regulations are projected to prevent nearly 58 million tons of methane from entering the atmosphere between 2024 and 2038, akin to the power sector's CO2 emissions in 2021. New Mexico Governor Michelle Lujan Grisham commended the rules, envisioning the US leading by example.
While some environmental groups lauded the regulations, the finalized rule varies slightly from earlier drafts, offering the industry more compliance time and modifying the Super Emitter Program's reporting structure.
Oil and gas entities like the American Petroleum Institute and Exxon expressed support for the rules, awaiting a comprehensive review, emphasizing the need for reasonable and balanced policies.
Amid global climate concerns, this move signifies the US's commitment to curbing methane emissions, aiming for tangible environmental and health benefits while balancing industry considerations.
