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US oil sector seeks flexibility on methane fee
The oil and gas sector is pressing President Joe Biden's administration to provide exceptions and flexibility on a first-time federal fee on methane waste that will begin to apply in 2024. Large oil and gas facilities on 1 January 2024 will begin paying $900 for each metric tonne (t) of methane emitted above a minimum emissions intensity, under part of the Inflation Reduction Act that will start to impose a penalty on leaks of the greenhouse gas. The fee will be $1,200/t in 2025 and rise to $1,500/t in all subsequent years. But it will fall to the US Environmental Protection Agency (EPA) to figure out exactly how to ... (full story)
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- Posted: Jan 25, 2023 8:55pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 49
