The US will fine oil and gas companies that generate excessive methane emissions

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The United States Government announced measures to impose economic sanctions on excessive methane emissions from oil and natural gas companies with the aim of reducing pollution caused by greenhouse gases .

As reported by the United States Environmental Protection Agency (EPA) in a statement, the Methane Emissions Reduction Program will force oil and gas companies to pay a fee if they exceed methane emissions levels established by Congress .

The amount to pay for excessive methane emissions

This proposal, approved by Congress as part of the Inflation Reduction Law, will imply that large energy producers pay $900 for each ton of methane emitted that exceeds the established limit.

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This fee will increase to $1,200 in 2025 and stabilize at $1,500 in 2026.

We are focused on working together with companies, states and communities to ensure that the United States leads the deployment of technologies and innovations that help the development of a clean energy economy ,” said EPA Administrator Michael S. Regan.

In the statement, the EPA detailed that methane is considered a “climate superpollutant” with greater warming potential than carbon dioxide, being responsible for around a third of the total impact of global warming caused by greenhouse gases. Senator Tom Carper, who chairs the Senate Committee on Environment and Public Works, said that methane is more than 80 times more powerful than carbon dioxide and highlighted that the Methane Emissions Reduction Program will serve as an incentive for producers to reduce emissions of this gas.

In this context, EPA believes that rapidly reducing excessive methane emissions in the oil and natural gas sector, which is the largest industrial source of such emissions in the United States, is an effective measure to curb the rapid increase in methane emissions. global temperature. Precisely, NASA confirmed a few days ago that 2023 was the warmest year on record , a phenomenon directly linked to climate change caused by polluting emissions.

Additionally, EPA is working with the U.S. Department of Energy to provide more than $1 billion in financial and technical assistance, as covered by the Inflation Reduction Act, to the industry. The objective of this collaboration is to promote the transition towards non-polluting and low-emission technologies.

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Source: bancaynegocios.com

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