This week, the Biden Administration announced proposed rules on methane emissions, targeting energy exploration and production in the oil and gas industry. Timed to factor into negotiations at the COP26 conference in Glasgow, Scotland, the rule would impose more stringent requirements for maintaining natural gas and oil wells.
Senior Fellow Ben Lieberman responded to the announcement:
“Just about every Biden administration measure impacting domestic energy production and prices is moving things in the wrong direction, and the Environmental Protection Agency’s proposed methane rule is no exception. As it is, methane emissions have declined even as oil and natural gas production has skyrocketed over the last decade, yet this proposed rule would require additional declines likely to raise domestic drilling costs and give the advantage to overseas production. The impacts would be felt no only in declining domestic energy jobs but also in further upward pressure on the future price at the pump.”