Energy Exchange

Selected tag(s): Methane emissions

No time to waste: What lies ahead in New Mexico on methane policy?

The Cabinet Room was buzzing with (clean) energy on Tuesday as New Mexico Gov. Michelle Lujan Grisham was joined by her Energy Minerals and Natural Resources (EMNRD) Secretary Sarah Cottrell Propst and Environment Secretary Jim Kenney to sign one of the strongest climate executive orders in the nation.

Crucially, the order also directs New Mexico’s state agencies to move expeditiously and develop comprehensive, statewide methane regulations to cut energy wasted from the oil and gas industry and improve air quality.

Now the question becomes, “what next?”

Governor Lujan Grisham made her wishes for a speedy methane rule development clear in the executive order, directing her EMNRD and Environment Department to enact rules “as soon as practicable.”
And she set a high bar for the strength and inclusiveness of the methane rules when she said that, “Our goal is to eclipse states that are successfully doing this work.”

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ExxonMobil and Shell lead as counterparts lag on EPA’s first methane rollback proposal

By Ben Ratner and Rosalie Winn

Methane emissions from the American oil and gas industry waste valuable resources, accelerate climate change and severely cloud the credibility of natural gas in the low carbon transition. Unfortunately, Acting EPA Administrator Andrew Wheeler has proposed to weaken standards limiting pollution from new and modified oil and gas facilities.

Companies across the value chain with a stake in the future of gas have an incentive to urge continued—and enhanced—nationwide methane regulation that helps industry as a whole improve. As EPA reportedly considers issuing an even more extreme, second proposal to eliminate methane regulation, some industry responses include promising signs of leadership that underscore just how out of step this administration’s attacks have been. Other responses (and non-responses) from industry have been more discouraging in supporting regulatory rollbacks that will increase harmful emissions and further call into question the role of natural gas as investors, customers and others demand cleaner energy.

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Investors call on BP, Exxon, Shell to defend EPA methane regulations

Last week, investors representing $1.9 trillion assets under management called on 30 oil and gas companies, urging them to publicly oppose the EPA’s proposed weakening of its methane rules. This letter is signed by investors including CalSTRS, the New York City Comptroller’s Office, and Robeco, all of which have joined together to say no to these regulatory rollbacks.

Investors look to minimize risk while maximizing value. Methane emissions are a risk, and the proposed rule changes will increase emissions by the EPA’s own estimates. So it is no surprise that investors with nearly $2 trillion worth of assets are speaking up to defend this risk-reducing rule.

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Methane Emissions from Oil & Gas are on the Rise, Confirm Latest EPA Data

rp_methane_378x235_4.jpgMethane emissions from the US oil and gas sector increased, according to new data finalized today by the Environmental Protection Agency. Sadly, the figures come as no surprise, based on preliminary numbers and plenty of other observations, both scientific and anecdotal.  No surprise unless you’re part of the industry’s public relations machine, which keeps insisting that up means down.

What is legitimately surprising is that this problem continues in spite of the many simple, proven and cost effective ways there are to fix it. And therein lies opportunity. Read More »

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4 Reasons a National Methane Policy Will be Good for Business

rp_natgasworker-198x300.jpgAfter months of anticipation, the Obama Administration this month released its new methane emissions strategy – a plan that opens up new opportunities for industry writ large, and especially for operators that want to cut waste and get ahead.

The centerpiece of the strategy are imminent rules that will help us meet a new national goal to reduce harmful methane pollution from oil and natural gas operations by 45 percent by 2025.

But the rules also bring direct industry benefits. Here are four reasons the new methane emissions strategy is a boon, rather than bane, for America’s $1.2-trillion oil and gas sector:

1. It tackles $1.8 billion in annual waste and adds market certainty

Leaky infrastructure and unnecessary venting across the oil and gas value chain cost an estimated $1.8 billion in wasted product and lost revenue annually.

The new rules require companies to include up-to-date controls as they build out new and modified infrastructure, keeping gas in the pipeline while making new facilities more efficient. Read More »

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Verdict Is In—There’s Broad Support for Plan to Cut Methane Pollution

getty_dv626028_rfWhen the White House announced ambitious plans to cut methane emissions from the oil and gas sector by 45 percent, EDF President Fred Krupp called it a landmark move. And according, to a recent poll, 66 percent of Americans agree that strong federal standards are needed to safeguard our air from methane pollution, which is responsible for about a quarter of today’s warming. The oil and gas industry– the largest industrial source of this climate pollutant–wastes enough unburned methane each year to heat six million homes.

The plan has drawn widespread support among opinion leaders as well as industry experts.

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