background image

Oil companies face a new fine for methane. Trump could scrap it

author image

By illuminem briefings

· 2 min read


illuminem summarizes for you the essential news of the day. Read the full piece on The Washington Post or enjoy below:

🗞️ Driving the news: The U.S. Environmental Protection Agency (EPA) announced a new fee on methane emissions from oil and gas companies during the U.N. Climate Conference in Baku, Azerbaijan
This first-ever federal fee, enabled by the Inflation Reduction Act, starts at $900 per metric ton of methane in 2024, rising to $1,500 by 2026
The recent election of Donald Trump, however, puts the fee at risk of repeal, as he has pledged to reverse climate regulations

🔭 The context: Methane is a significant greenhouse gas, responsible for about one-third of recent global warming and 80 times more potent than CO₂ over short periods
The Biden administration aimed to reduce methane emissions in line with climate targets, while the American Petroleum Institute has called the fee a “punitive tax” that could impact U.S. energy production
With Trump’s energy policy priority - to repealing climate policies impacting the fossil fuel industry, regulation of methane emission is uncertain

🌍 Why it matters for the planet: Methane reduction is critical for immediate climate impact; EPA estimates that this rule could prevent 1.2 million metric tons of methane emissions by 2035—equivalent to taking nearly 8 million gas-powered cars off the road for a year
This fee incentivizes oil and gas companies to invest in cleaner operations and reduce harmful leaks, flaring, and emissions

⏭️ What’s next: Trump’s administration is expected to challenge or repeal the methane fee if it takes effect, potentially stalling or reversing its climate benefits
Environmental groups continue to advocate for methane reduction, while oil and gas companies debate compliance costs and possible exemptions

💬 One quote: “Polluters should be responsible for their fair share,” - Mark Brownstein, senior vice president at the Environmental Defense Fund

📈 One stat: The methane fee could prevent 1.2 million metric tons of methane emissions by 2035, per EPA estimates

Click for more news covering the latest on carbon  

Did you enjoy this illuminem voice? Support us by sharing this article!
author photo

About the author

illuminem's editorial team - providing you with concise summaries of the most important sustainability news of the day.

Follow us on Linkedin, Twitter​ & Instagram

Other illuminem Voices


Related Posts


You cannot miss it!

Weekly. Free. Your Top 10 Sustainability & Energy Posts.

You can unsubscribe at any time (read our privacy policy)