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Primary Method Adopted by Oil and Gas Firms to Reduce Methane Emissions by End of 2025?
2
Resolution / Starting Odds
Improved Leak Detection and Repair • 25%
Flaring Reduction • 25%
Capture and Reuse • 25%
Other • 25%
Industry reports and company announcements
Story
EPA Finalizes First-Ever Methane Fee on Large Oil and Gas Firms, Starting at $900 per Ton
Nov 12, 2024, 01:15 PM
The Biden administration has finalized a regulation that imposes a fee on methane emissions from oil and gas producers in the United States for the first time. The Environmental Protection Agency announced on Tuesday that large oil and natural gas companies will be required to pay a federal fee if they emit methane above certain levels. The fee, starting at $900 per metric ton in 2024, will increase to $1,500 by 2026. This move targets large oil and gas producers and aims to curb emissions of the potent greenhouse gas as part of broader efforts to address climate change. The rule applies to methane emissions from oil wells and drilling waste.
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Leak detection and repair • 33%
Methane capture and storage • 33%
Upgrading equipment • 33%
ExxonMobil • 25%
Chevron • 25%
ConocoPhillips • 25%
Other • 25%
Improved detection technology • 25%
Operational changes • 25%
Offsets and credits • 25%
Other • 25%
Yes • 50%
No • 50%
Carbon Capture and Storage • 25%
Renewable Energy Integration • 25%
Operational Efficiency Improvements • 25%
Other • 25%
Yes • 50%
No • 50%
Oil Production • 33%
Gas Production • 33%
Pipeline Infrastructure • 33%