The Environmental Protection Agency today issued final regulations aimed at curbing methane emissions from new and modified sources in the oil and gas section, while also taking the first formal step toward regulating emissions of the potent greenhouse gas from existing sources.
According to a fact sheet, the standards for new infrastructure will reduce 510,000 short tons of methane in 2025. The agency estimates they will generate climate benefits of $690 million in 2025, outweighing the estimated costs of $530 million in 2025.
In addition, the EPA issued a draft information collection request for public comment that would require oil and gas companies to provide extensive information on methane emissions from numerous sources as the first step toward regulating those sources. Companies will be legally required to respond to the final information collection request.
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