Energy Exchange

Round one of EPA methane comment period draws record engagement; Here’s how companies and investors can step up in round two

By Dominic Watson / Published: February 28, 2022

The public comment period for the Environmental Protection Agency’s proposed oil and gas methane rules generated more than 400,000 individual submissions, including many from energy and financial companies that support Biden administration efforts to reduce emissions of this powerful greenhouse gas.

However, our analysis of comments from energy and investment companies shows a troubling divide between those that support strong rules and others trying actively to weaken them before they even take effect. When EPA’s next comment period opens this spring, it will be critical for supporters to weigh in on the overall goal, as well as on specific provisions — including elimination of routine flaring, transitioning away from polluting pneumatic equipment, and ensuring comprehensive leak detection, including at smaller wells.

A broad collection of investors representing trillions of dollars in capital has urged oil and gas companies to demonstrate genuine effort to reduce their emissions. Yet despite increasing numbers of targets from industry in recent years, U.S. methane emissions remain sky high — suggesting voluntary efforts will not be enough to meet this challenge.

If responsible operators already taking action do not take advantage of this unique policy opportunity, the worst actors will continue to bring down the reputation of the industry as a whole for years to come.

Also posted in Methane, Natural Gas / Comments are closed

To tackle natural gas waste on federal and tribal lands, the Biden administration must end routine venting and flaring

By EDF Blogs / Published: February 17, 2022

By Jon Goldstein and Ben Tettlebaum

With responsibility over one-eighth of the nation’s landmass, the Bureau of Land Management has a lot of important jobs. Chief among them is ensuring federal and tribal lands — and the minerals beneath them — are wisely and responsibly managed on behalf of the public, including U.S. taxpayers and tribal citizens.

But avoidable venting and flaring of natural gas from these lands emit harmful pollutants that have significant public health impacts, especially on communities living near oil and gas fields. What’s more, this damaging practice severely exacerbates the climate crisis and, estimates show, wastes $400 million worth of gas every year.

That’s why a broad coalition of 65 environmental, conservation, tribal, business, faith and agricultural groups called on BLM in a letter late last month to follow the lead of states like Alaska, Colorado and New Mexico and ban routine venting and flaring of natural gas.

Also posted in BLM Methane, Methane, Natural Gas, Wyoming / Tagged New Mexico | Comments are closed

Methane policy is a test of investors’ post-COP climate commitment. Will they pass?

By Dominic Watson / Published: January 11, 2022

Climate pledges and statements of support from the financial industry ring hollow unless and until firms support public policies that will deliver required emission cuts. That’s at risk of happening now as major asset managers have remained silent on a proposed new Environmental Protection Agency rule requiring oil and gas producers to cut their methane emissions.

Now is the time for investors to speak up. By backing the regulation, the financial sector has a crucial, cost-effective opportunity to support the mitigation of short-term climate risk from a dangerous climate pollutant. The EPA comment period for the proposed methane regulations lasts until Jan. 31, 2022, and is the perfect venue for investors to voice their support.

Also posted in Methane / Comments are closed

Canada’s path to reducing methane must be built on all available data

By Shareen Yawanarajah Ph.D. / Published: November 18, 2021

Last week, at the United Nations annual climate conference, Canada joined over 100 other countries pledging to reduce 30% of global methane emissions by the year 2030. Methane is a fast-acting greenhouse gas responsible for over a quarter of human-caused global warming. Reducing methane emissions, along with carbon dioxide, is absolutely critical to limiting global warming to 1.5 degrees.

Canada is among the world’s largest methane emitters, and oil and gas is a significant contributor. So consequently, living up to this global commitment of 30% reduction by 2030 will have to include meaningful cuts to oil and gas sector methane emissions.

Also posted in Air Quality, Methane, Natural Gas / Tagged Canada | Comments are closed

Turning COP26 methane promises into action

By Matt Watson / Published: November 11, 2021

One of the biggest accomplishments from COP26 is the global consensus around the urgent need to reduce methane emissions. More than 100 countries representing more than two-thirds of the global economy promised to collectively reduce 30% of man-made methane emissions by 2030.

The agreement follows recent analysis from the Intergovernmental Panel on Climate Change, which warns there is no plausible pathway to limit temperature rise to 1.5°C without dramatic reductions in both methane emissions and carbon dioxide. We can’t get there through either pathway alone. We have to do both.

Also posted in Climate, Natural Gas / Comments are closed

Methane Momentum at COP26: What you missed and what’s ahead

By EDF Blogs / Published: November 10, 2021

Methane had a major moment on the world’s stage last week at the annual United Nations climate conference when more than 100 countries pledged to reduce global methane emissions by 30% this decade. Not only that, we also saw the U.S. Environmental Protection Agency propose enhanced protections to reduce methane pollution from oil and gas infrastructure nationwide. Both actions are critically important to help rapidly cut emissions of a potent climate pollutant that’s driving at least a quarter of current global warming.

The acute focus on the world’s methane problem — and consequently what to do about it — was elevated in the most recent assessment by the Intergovernmental Panel on Climate Change. But it’s also been the result of tireless decades of work and effort led by scientists, policy experts and environmental advocates who have been actively studying the major sources of methane emissions in search of potential solutions. Many stopped by the Methane Moment pavilion at COP 26 to share insights about what led to this moment, and where we go from here.

Also posted in Methane / Comments are closed