US set to fine oil and gas companies for methane leaks
Published on 29/07/2022, 5:12pm
The fee is thought to be the first in the world and is likely to at least halve the oil and gas sector’s methane leakage rate
By Joe Lo
A proposed US climate bill will introduce a charge on methane leaks from oil and gas facilities, believed by experts to be the first of its kind in the world.
After hold-out Senator Joe Manchin agreed to it, the Inflation Reduction Act looks set to become law, introducing $370 billion of climate spending.
The bill would introduce a “waste emissions charge”, making companies who produce, transport or store oil and gas pay for methane which leaks from their facilities into the atmosphere.
Methane is a particularly potent greenhouse gas and frequently leaks from oil and gas pipelines as a waste product. Companies have allowed it to leak because they either don’t know about it or they think fixing it will cost them more than it saves.
https://www.climatechangenews.com/2022/07/29/us-set-to-fine-oil-and-gas-companies-for-methane-leaks/
