Methane Clips: December 21, 2023

 

Small Oil And Gas Companies Lack Policies To Cut CO2, Methane. According to Politico, “Many small U.S. oil and gas producers have no plans to reduce planet-warming emissions or invest in renewables, according to a new survey from the Federal Reserve Bank of Dallas. Only 18 percent of the small exploration and production firms polled for the quarterly Energy Survey said they had plans to reduce carbon dioxide emissions. About 34 percent planned to reduce methane emissions, 27 percent aimed to reduce flaring and 4 percent said they would invest in renewables. That was in stark contrast to large oil and gas firms, most of which said they had plans to reduce CO2 emissions, methane emissions and flaring (or burning off natural gas). Such firms were defined as those that produce 10,000 or more barrels of crude a day, The survey — which polled 114 energy firms based in Texas, southern New Mexico and northern Louisiana — found other key differences among large and small producers, said Kunal Patel, a senior business economist with the Dallas Fed.” [Politico, 12/21/23 (=)]

 

Opinion: EPA Methane Rule Is Step In Right Direction. According to Midland Reporter Telegram, “Last December, the Environmental Protection Agency (EPA) introduced a regulation aimed at imposing on energy companies a “one-size-fits-all” methane emissions reduction technology. On December 2, the EPA released its final rule. While in principle, federal regulations on methane are the right thing to do, this rule still includes provisions that will create unintended consequences for holding back innovative solutions to reduce methane emissions. As the former Chairman of the House Energy and Commerce committee, over 40 years I believe I have chaired more hearings on energy than any other current or former member of Congress. I believe it is much better to regulate oil and gas emissions at the state level, rather than at the federal level. I inserted a provision that left the regulation of hydraulic fracturing to the states in the Energy Policy Act of 2005, as states can more finely tune their regulations that the federal government can. And frankly, our nation’s states would benefit from being able to take their own initiatives in the methane reductions space, rather than allowing the administration to force them into regulation that may not necessarily suit their robust needs.” [Midland Reporter Telegram, 12/20/23 (+)]