Methane Border Tax: New Import Fees on Oil and Gas to Cut Emissions.
This law establishes a new tax on imported petroleum and natural gas, designed to penalize foreign producers with high methane emissions and level the playing field for US companies. While the tax is levied on importers, the ultimate goal is to improve public health and slow climate change by driving down global methane emissions. The mechanism encourages cleaner production practices abroad.
Key points
A new tax is imposed on imported oil and natural gas, calculated based on the methane emission intensity of the substance's country of origin.
The mechanism aims to reduce global methane emissions—a potent greenhouse gas linked to respiratory illnesses—by encouraging cleaner production abroad.
The US government will work with major importing countries to establish international standards for tracking methane emissions across supply chains.
The tax applies to sales and uses occurring after December 31, 2024.
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