Austin, Texas – Today the Obama administration issued a final rule to cut methane emissions from U.S. oil and gas production by nearly half over the next decade. Officials have estimated the comprehensive regulation would cost the industry about $530 million in 2025.
“Even with the significant rise in oil and natural gas production in recent years, methane emissions have fallen thanks to ongoing innovation and improvements in exploration and production methods,” said Ed Longanecker, president of TIPRO. “EPA’s own data shows methane emissions from hydraulically fractured gas wells have fallen 79 percent since 2005. The rapid deployment of hydraulic fracturing and horizontal drilling technologies is a key reason for the reduction of greenhouse gas emissions in the United States. Further, between 2006 and 2014,61.4percent of carbon dioxide emissions reductions in the U.S. electric power sector came from fuel shifting toward natural gas. Onerous and unnecessary regulations only cause more strain on our economy, increased expense to consumers and the companies that employ American workers, with little or no true environmental benefit.”