EPA's Methane Rule Faces Industry and Political Pushback

The Biden administration's EPA has introduced a new methane emissions rule, imposing a Waste Emissions Charge on the oil and gas sector, starting at $900 per metric ton in 2024 and increasing to $1,500 by 2026, as part of the Methane Emissions Reduction Program under the Inflation Reduction Act. This rule aims to incentivize industries to reduce methane emissions, a potent greenhouse gas. Environmental advocates support the move, but industry groups and political figures, including those aligned with the incoming Trump administration, criticize it as harmful to energy costs and production. The rule is expected to face legal challenges from the oil and gas industry, which argues it will lead to higher energy prices and less energy security. Despite opposition, the EPA estimates the rule will cut methane emissions by 1.2 million metric tons through 2035. The rule is part of broader international efforts, highlighted at the COP29 climate summit, to address super pollutants like methane to achieve global climate targets.