EPA issues final methane rule for oil and gas will prevent 1.5 billion tons CO2-equivalent emissions

The EPA issues a comprehensive final rule requiring the oil and gas industry to detect and repair methane leaks, phase out routine flaring, and plug abandoned wells across existing and new facilities. The rule is the strongest methane emissions standard in US history, estimated to prevent the equivalent of 1.5 billion metric tons of CO2-equivalent greenhouse gas emissions through 2035. Methane is 80 times more potent than CO2 over a 20-year period. The rule also implements the Inflation Reduction Act's methane emissions fee, $900 per metric ton starting in 2024, rising to $1,500 by 2026, on oil and gas facilities that exceed emissions thresholds. The rule is part of Biden's broader strategy under the Global Methane Pledge to reduce global methane emissions 30% by 2030.