Methane Emissions Fees: New Rules for Oil and Gas Companies
This act introduces fees on methane emissions from oil and natural gas operations to reduce pollution and prevent the loss of valuable gas. Companies will pay for excessive emissions, encouraging investment in leak reduction technologies. Funds collected will support coastal resilience, potentially improving safety and the environment in these areas.
Key points
Oil and natural gas companies will face fees for methane emissions starting in 2023.
The fee amount depends on the percentage of methane lost to the atmosphere, with an alternative calculation option for companies investing in advanced emission reduction technologies.
Collected funds from these fees will be transferred to a fund supporting coastal resilience projects, potentially benefiting environmental and safety aspects for coastal communities.
The act does not limit states from implementing their own methane emission regulations or fees.
Status:
Expired
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