• Audio
  • Live tv
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms of Service
Sunday, May 28, 2023
Morning News
No Result
View All Result
  • Login
  • Home
  • News
    • Local
    • National
    • World
  • Markets
  • Economy
  • Crypto
  • Real Estate
  • Sports
  • Entertainment
  • Health
  • Tech
    • Automotive
    • Business
    • Computer Sciences
    • Consumer & Gadgets
    • Electronics & Semiconductors
    • Energy & Green Tech
    • Engineering
    • Hi Tech & Innovation
    • Machine learning & AI
    • Security
    • Hardware
    • Internet
    • Robotics
    • Software
    • Telecom
  • Lifestyle
    • Fashion
    • Travel
    • Canadian immigration
  • App
    • audio
    • live tv
  • Home
  • News
    • Local
    • National
    • World
  • Markets
  • Economy
  • Crypto
  • Real Estate
  • Sports
  • Entertainment
  • Health
  • Tech
    • Automotive
    • Business
    • Computer Sciences
    • Consumer & Gadgets
    • Electronics & Semiconductors
    • Energy & Green Tech
    • Engineering
    • Hi Tech & Innovation
    • Machine learning & AI
    • Security
    • Hardware
    • Internet
    • Robotics
    • Software
    • Telecom
  • Lifestyle
    • Fashion
    • Travel
    • Canadian immigration
  • App
    • audio
    • live tv
No Result
View All Result
Morning News
No Result
View All Result
Home Economy

Biden tightens methane emissions rule, but still wants more U.S. oil for now

author by author
November 11, 2022
in Economy
Reading Time: 3 mins read
0 0
A A
0
0
SHARES
12
VIEWS
Share on FacebookShare on TwitterLinkedinReddit

The Biden administration has rolled out what it calls a “super-emitter response program” Friday that’s intended to push the fossil-fuel industry to control how much atmosphere-warming methane it spews into the air.

The initiative, announced as President Joe Biden addresses on Friday the U.N.’s Conference of Parties, or COP27, climate summit, would require operators to respond to credible third-party reports of high-volume methane leaks.

And the proposal and summit speech will hit even as Biden had pressed energy producers for more oil drilling to lower prices at the gasoline pump
RB00,
+2.14%,
especially in the runup to closely contested midterm elections.

Methane is a more potent, but shorter-lasting, greenhouse gas (GHG) compared to carbon dioxide. Both are responsible for heating up the atmosphere and thus, fueling heat waves, drought, coastal erosion and other costly environmental worries. The emissions from fossil fuels are targets of global efforts to hold global warming to 1.5 degrees Celsius, a target established with the Paris accord in 2015 and the center of COP summits in the years since.

Oil
CL00,
+3.11%
and natural gas
NG00,
+0.85%
operations are the nation’s largest industrial source of methane. The gas industry, in particular, has called out its own efforts to cap leaks and better measure leaks along its pipeline system, and it maintains that natural gas in particular will have to play an economical role in a transition to cleaner energy.

The Environmental Protection Agency (EPA) estimates that in 2030, the proposal announced Friday would reduce methane from covered sources by 87% below 2005 levels.

EPA’s estimates also show the updated proposal would reduce VOC emissions by 9.7 million tons from 2023 to 2035, and air toxics emissions, including chemicals such as benzene and toluene, by 390,000 tons. Recent studies have pegged these chemicals in increased blood cancer risks in certain situations.

“The United States is once again a global leader in confronting the climate crisis, and we must lead by example when it comes to tackling methane pollution – one of the biggest drivers of climate change,” said EPA Administrator Michael S. Regan.

“We’re listening to public feedback and strengthening our proposed oil and gas industry standards, which will enable innovative new technology to flourish while protecting people and the planet,” he said.

The new EPA rule follows up on a methane rule Biden announced last year at the U.N. climate summit in Scotland. The 2021 rule targeted emissions from existing oil and gas wells nationwide, rather than focusing only on new wells as previous EPA regulations have done.

And, the update goes a step further, targeting all drilling sites, including smaller wells that emit about 3 tons (2.7 metric tonnes) of methane per year.

Multiple studies have found that smaller wells produce just 6% of the nation’s oil and gas but account for up to half the methane emissions from well sites. Small wells currently are subject to an initial inspection, but are rarely checked again for leaks.

Still, the president has tried to walk the line between keeping a focus on climate change and responding to the energy supply and price crisis born from Russia’s attack on Ukraine. Biden has accused oil companies of “war profiteering” and raised the possibility of imposing a windfall tax on energy companies if they don’t boost domestic production.

The new EPA proposal includes requirements for states to develop plans to limit methane emissions from hundreds of thousands of existing sources nationwide.

EPA is proposing to require states to submit those plans within 18 months
after the final rule is issued, and to establish compliance deadlines for existing sources that are no later than three years after the submission deadline. The supplemental proposal includes requirements for considering the communities most affected by and vulnerable to oil and gas emissions, along with a
demonstration of meaningful community engagement as states develop their plans.

EPA estimates that the supplemental proposal will yield total net climate benefits valued at $34 billion to $36 billion from 2023 to 2035 (the equivalent of about $3.1 to $3.2 billion per year), after taking into account the costs of compliance and savings from recovered natural gas.

The Associated Press contributed.

Set of 5 Clipper-mate Pocket Combs 5" All Fine Teeth

Avalon Coconut Body Lotion, 7 Ounce, Coconut, 7 ounces, 7 oz

Tags: article_normalAutomobilescop27Crude Oil/Natural Gas Upstream OperationsCrude Petroleum ExtractionElectricity/Gas UtilitiesEnergyepagasolineNatural Gas/Oil Extraction
Previous Post

Florence Pugh And Ex-Boyfriend Zach Braff Exchange Flirty Instagram Comments

Next Post

Biden addresses COP27 on firmer climate footing, but world wants U.S. leadership on pollution

Related Posts

Economy

Opinion: The Fed says don’t worry about U.S. banks, but why should anyone believe them?

May 28, 2023
11
Economy

U.S. employment costs remain sticky, boosting expectations of Fed hike

May 28, 2023
11
Next Post

Biden addresses COP27 on firmer climate footing, but world wants U.S. leadership on pollution

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR TODAY

Taylor Swift at the 65th Annual GRAMMY Awards held at Crypto.com Arena on February 5, 2023 in Los Angeles, California.
Entertainment

Taylor Swift Is Releasing Four Unreleased Songs Tonight In Celebration Of The Eras Tour

by author
May 27, 2023
0
12

Swifties are in for a special surprise at midnight.Taylor Swift has just announced that she’s dropping four unreleased songs tonight...

Google loses bid to move DOJ’s antitrust suit to NY from Virginia

May 27, 2023
12
Egypt

Egypt unveils recently discovered ancient workshops, tombs in Saqqara necropolis

May 28, 2023
12
Alabama quarterback Bryce Young gets a jersey from NFL Commissioner Roger Goodell after being chosen by Carolina Panthers with the first overall pick during the first round of the NFL football draft, Thursday, April 27, 2023, in Kansas City, Mo. (AP Photo/Jeff Roberson)

Panthers take Bryce Young at No. 1 overall in NFL draft

May 28, 2023
12

Toronto police trying to identify victim who was dumped unconscious on sidewalk from trunk of car

May 28, 2023
12

POPULAR NEWS

Dutch government to restrict sales of processor chip tech

May 15, 2023
33
Here’s what happens to NFTs when you die: Nifty Newsletter, April 12–18

Here’s what happens to NFTs when you die: Nifty Newsletter, April 12–18

May 19, 2023
31

Loans decline after SVB failure, Fed’s Beige Book finds, and add to stress on the economy

May 19, 2023
27
Several travel industry groups said that a travel advisory for Florida issued by the NAACP could harm small businesses in the state, specifically Black-owned ones.

Travel groups say NAACP’s Florida advisory misses the mark

May 23, 2023
22
Paul Edmonds (center) with two healthcare providers from City of Hope.

How a Breakthrough Treatment Helped ‘Cure’ This Man of HIV

May 23, 2023
18

EDITOR'S PICK

Economy

Canada has highest household debt level in G7: CMHC deputy chief economist

by author
May 25, 2023
0
11

Canada has the highest level of household debt in the G7, making its economy vulnerable to a global economic crisis,...

Read more

Latest CRA offer to striking workers ‘slap in the face:’ union

U.S. budget deficit hits $1.1 trillion in first half of fiscal year, Treasury says

Two Canadians fighting for Ukraine killed in action in Bakhmut

Former B.C. premier John Horgan officially resigns seat in legislature

Morning News

Welcome to our Ads

Create ads focused on the objectives most important to your business Please contact us info@morns.ca

PBMIY 3 in 1 15W Foldable Fast Wireless Charger Stand Compatible with iPhone 13/12/11Pro/Max/XR/XS Max/X

Modern Nightstand Bedside Desk Lamp Set of 2 for Bedroom, Living Room,Office, Dorm, Gold

Backup Camera for Car HD 1080P 4.3 Inch Monitor Rear View System Reverse Cam Kit Truck SUV Minivan Easy Installation

OPI Natural Nail Base Coat, Nail Polish Base Coat, 0.5 fl oz

  • Home
  • Audio
  • Live tv
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms of Service

© 2022 Morning News - morns.ca by morns.ca.

No Result
View All Result
  • Home
  • News
    • Local
    • National
    • World
  • Markets
  • Economy
  • Crypto
  • Real Estate
  • Sports
  • Entertainment
  • Health
  • Tech
    • Automotive
    • Business
    • Computer Sciences
    • Consumer & Gadgets
    • Electronics & Semiconductors
    • Energy & Green Tech
    • Engineering
    • Hi Tech & Innovation
    • Machine learning & AI
    • Security
    • Hardware
    • Internet
    • Robotics
    • Software
    • Telecom
  • Lifestyle
    • Fashion
    • Travel
    • Canadian immigration
  • App
    • audio
    • live tv
  • Login

© 2022 Morning News - morns.ca by morns.ca.

Welcome Back!

Sign In with Facebook
Sign In with Google
Sign In with Linked In
OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version