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
The Inglewood Oil Field in Los Angeles (Photo: Peter Bennet/Greenpeace)
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/
