New Climate Rules Will Impact Oil and Gas Industry

EPA continues to focus on the oil and gas sector in its relentless quest for reduction of methane and volatile organic compound (VOC) emissions. It now seeks to expand on the standards announced in 2012 for hydraulically fractured natural gas wells by having additional standards on a variety of sources in place by 2016.

Methane accounts for about 9 percent of domestic greenhouse gas emissions. Although methane emissions have decreased since 1990, EPA predicts they will increase through 2030 if action is not taken. As a result, EPA believes new reductions are necessary in order to meet the administration’s goal of reducing greenhouse gas emissions by 17-percent below 2005 levels by 2030. As the oil and gas sector accounts for roughly 28 percent (in 2012) of greenhouse gas emissions, EPA sees it as a fertile ground for action. Continue reading “New Climate Rules Will Impact Oil and Gas Industry”