The Environmental Protection Agency (EPA) has recently finalized a crucial climate rule under the Biden administration aimed at reducing leaks of methane, a potent greenhouse gas with significant implications for the climate. This rule, proposed almost a year ago, is a key provision of the Inflation Reduction Act, making it more challenging for future administrations to dismantle.
The new rule imposes a fee on high-emitting oil and gas producers who release methane above a certain threshold by venting or flaring it into the atmosphere instead of capturing it. The federal government will charge this methane fee until the companies rectify the leaks. Additionally, the rule offers financial incentives to oil and gas companies to repair leaky pipelines and infrastructure.
Methane, an odorless and invisible gas, has over 80 times the warming potential of carbon dioxide. It is a primary byproduct of oil and gas drilling and is a significant contributor to global warming. Scientists have noted that the current concentration of methane in the atmosphere is the highest in at least 800,000 years and has been responsible for up to a third of the planet's warming to date.
The rule's inclusion in Biden's climate law, passed by Congress in 2022, could make it challenging for future administrations to overturn. Reversing the rule would require another act of Congress, potentially presenting obstacles, especially if the political landscape changes. This regulatory measure signifies a significant step towards addressing methane emissions and combating climate change.
