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The EPA finalized a rule Tuesday imposing a tax on methane emissions from the oil and gas sector, stemming from the Inflation Reduction Act’s Waste Emissions Charge provision.
Starting in 2024, companies will pay $900 per metric ton of methane emissions above a set limit. The fee will increase to $1,200 in 2025 and $1,500 in 2026 and continue to rise annually.
“The final Waste Emissions Charge is the latest in a series of actions under President Biden’s methane strategy to improve efficiency in the oil and gas sector, support American jobs, protect clean air, and reinforce U.S. leadership on the global stage,” EPA Administrator Michael Regan said in a press release, according to Fox News Digital.
Before Tuesday’s new methane rule, Biden’s administration had already implemented measures to curb methane, including reversing a Trump-era rollback of Obama’s stricter standards. Climate advocates, like the Clean Air Task Force, praised the rule. At the same time, Steve Milloy of the Energy and Environmental Legal Institute criticized it as “irrelevant,” arguing that methane’s impact is minor compared to water vapor and carbon dioxide. Milloy also noted the rule’s limited scope, targeting only the oil and gas sector, not agriculture.
Milloy noted that “the largest source of methane is actually microbes,” not man-made power plants. These microbes, tiny organisms found in cows’ stomachs, agricultural fields, and wetlands, contribute significantly to methane emissions, according to The Washington Post. Milloy also argued that the new tax would benefit large oil companies while burdening smaller ones.
“It’s because all these regulations cripple the competition,” Milloy said. “Taxing the oil industry, you know, Big Oil is going to be all for that.”
A few key points on methane ignored/omitted by the Biden regime and WaPo @maxinejoselow:
1. Methane is irrelevant to the greenhouse effect and climate. https://t.co/chHLnuyPxY
2. A new study reports that microbes — not the fossil fuel industry — are responsible for the… pic.twitter.com/kPUPTb6VCs
— Steve Milloy (@JunkScience) November 12, 2024
North Carolina Rep. Greg Murphy, endorsed by Citizens for Responsible Energy Solutions, argued that the new methane tax would “raise costs and prevent investment” in the oil and gas industry. President-elect Trump has indicated plans to repeal many green energy measures in Biden’s Inflation Reduction Act, nominating former Rep. Lee Zeldin as EPA chief. Alaska Gov. Mike Dunleavy is also considered for Energy Secretary.
“Thankfully, this insanity will end in January,” Murphy said.
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