Biden Deals Another Blow To U.S. Oil And Gas Production?

Gage Skidmore from Peoria, AZ, United States of America, CC BY-SA 2.0 , via Wikimedia Commons

(TargetLiberty.org) – On Saturday, the Biden administration announced the new rules finalized by the Environmental Protection Agency (EPA) which is going to cut down greenhouse gas methane in the gas and oil sector. The new regulations are going to not only apply to new oil and gas wells but also to existing ones.

In a press release, the EPA noted that the rule is going to prevent around 58 million tons of methane from being emitted into the atmosphere from 2024 to 2038. This is the equivalent of removing 28 million gas-powered vehicles from the roads for one year.

Methane is a gas that is twenty-eight times more potent than carbon dioxide and responsible for around 25 percent of global warming. Methane is emitted from the production of fossil fuels, agricultural activities, including livestock, and decaying waste in landfills. Methane is the gas that predominantly makes up natural gas.

The announcement came at a time when the United States is trying along with other nations to tackle climate change. The announcement was also part of the COP28, the global climate summit, that was held in Dubai. President Biden is not going to be attending the summit this year; however, Vice President Kamala Harris and Special Climate Envoy John Kerry are both going to be in attendance.

The new rule would cut methane emissions through policies that would limit the leaks through more repairs and monitoring of oil and gas wells. There will also be additional guidelines and rules that new wells will be required to abide by.

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