Under the new rule, the Environmental Protection Agency (EPA) will require oil and gas companies to end routine flaring of natural gas and capture gas instead of burning it, according to
CNN. Flaring is the conventional method oil and gas companies have
used for controlled burning of natural gas since the beginning of oil production around 160 years ago.
The American Petroleum Institute (API) said it supports regulation of methane emissions, but asked the EPA to modify its current plan,
saying, “we are concerned the proposed rule as drafted could create barriers to innovation and hamper U.S. energy production, which could lead to higher energy costs.”
The API also joined the Independent Petroleum Association of America (IPAA) and the American Exploration and Production Council in submitting comments to the EPA in October, warning that rule on methane emissions would “create a potentially significant financial impact” on the oil and gas industry, Just The News
reported.
Industry expert Tom Shepstone told Just The News that while seeking ways to reduce emissions can be good, the Biden administration is pursuing a more radical agenda.
“I think we make a big mistake when we don’t recognize that the EPA, the Biden administration, and environmental groups, generally speaking — not all of them but a lot of them — are really about trying to get rid of fossil fuels,” Shepstone said.
Between 2018 and 2022, major oil and gas basins in the U.S. were already
reporting large declines in methane emissions, from 18% to 77% decreases. But even with oil and gas companies working to decrease emissions, the Biden administration has now leveled more restrictions on the industry in back-to-back years after
increasing standards last year.