Energy Exchange

Last Friday, the incoming head of the International Energy Agency (IEA), Faith Birol, provided a briefing to U.S. stakeholders about IEA’s new special report on climate change, which found that global emissions could peak by the end of this decade without reducing economic growth. The report outlines five key pillars for turning the emissions corner by 2020, and importantly, one of the pillars is reducing methane from the oil and gas sector. The report‘s finding that the scale of potential reductions from oil and gas methane is about the same as the reductions from renewable energy underscores the impact that action on methane can have.

IEA’s report is the latest in a stream of recent analyses illustrating the enormous potential for methane reductions to slow climate change. This is because methane has such a powerful short-term impact on the climate, with 84 times more warming power than carbon dioxide over a 20-year timeline. And, the report also highlights the significant opportunity that exists in implementing cost-effective, commonsense measures to cut these emissions, which many governments and companies have not yet taken advantage of. Read More »

California public school teachers. Religious charities. New York police officers and firefighters.

What do all of these groups have in common? Investors representing them — who manage $1.5 trillion in retirees, current employees’, and others assets – are standing together and calling for strong rules limiting harmful methane emissions from the oil and gas sector. This level of outpouring – from diversified investors with holdings in the oil and gas industry – represents five times the support investors expressed for methane rules last year. A trend is emerging.

The investors, including the largest retirement funds in California and New York, issued a powerful statement in support of the president’s methane proposal aimed at cutting emissions nearly in half in a decade. A centerpiece is regulation of methane, the primary ingredient in natural gas, which has over 80 times the warming power of carbon dioxide in the first 20 years after it’s released and is responsible for 25 percent of the warming we are feeling today. Read More »

By: Tim O’Connor, Director of California Climate Initiative, and Amanda Johnson, Legal Fellow

California is in the midst of multiple regulatory efforts to reduce methane emissions from natural gas and oil operations throughout the state. It’s a key opportunity to make a real dent in the state’s climate impact since methane, the primary component of natural gas, packs over 84 times the warming potential of carbon dioxide in the first 20 years after it is released unburned.

Methane emissions in-state and out of state

One of the key efforts going on in the state is the development of new rules by the California Public Utilities Commission (CPUC) to reduce methane emissions from natural gas transmission, distribution, and storage, the systems that deliver gas to homes and businesses. And, at the California Air Resources Board (CARB), a new statewide plan to cut short lived climate pollutants from sources across the state is in development, as are new regulations to reduce emissions from oil and natural gas production, processing, and storage in California. Read More »