TL/DR –
The US Environmental Protection Agency (EPA) has updated its methane emissions reporting requirements for oil and gas operations. The revisions aim to increase transparency and accuracy of emissions from the sector, the largest industrial source of methane, a potent greenhouse gas. The move, which includes using satellite data to identify and monitor high-emission sources, is part of a broader initiative under the Biden-Harris Administration to reduce methane emissions across the economy and transition to cleaner energy technologies.
EPA’s New Rule on Methane Emissions Reporting from Oil and Gas Sectors
The EPA has expanded its influence with new methane emissions reporting requirements for oil and gas operations. This comes amidst a House Committee hearing into the Agency’s latest regulations on chemical firms.
The agency announced that the final revisions enhance transparency and accountability of methane pollution from oil and gas facilities. This is achieved through improved accuracy of annual emissions reporting.
Oil and gas facilities are the nation’s largest industrial source of methane, a significant greenhouse gas contributor. The EPA argues that this “super pollutant” is more potent than carbon dioxide and accounts for roughly a third of current greenhouse gas warming effects.
The EPA’s recent action supports the Biden-Harris Administration’s initiative to cut methane emissions across all economy sectors. The U.S. Methane Emissions Reduction Plan saw nearly 100 actions in 2023 alone to curb methane pollution from various sources.
The updated Greenhouse Gas Reporting Program is a key component of the Inflation Reduction Act’s Methane Emissions Reduction Program. This program aims to help states, industries, and communities implement Clean Air Act methane standards and reduce emissions from the oil and gas sector.
EPA Administrator Michael S. Regan emphasized the use of the latest tools, technologies, and expertise to track and measure methane emissions from the oil and gas industry, assisting US leadership in transitioning to a clean energy economy.
Recent studies indicate that actual emissions from petroleum and natural gas systems far exceed the reported levels to the GHGRP. The new rule is designed to close this gap. Measures include using satellite data to identify large emission events, mandating direct monitoring of key emission sources, and updating calculation methods.
The agency’s new reporting rule is its latest effort in combating methane emissions driving climate change. It augments the EPA’s recently finalized Clean Air Act standards to significantly reduce methane and other harmful pollutants from the oil and natural gas sector.
—
Read More US Economic News