The Methane Emissions Gap Could Narrow

The Inflation Reduction Act takes major steps toward addressing methane emissions, which are a sizable contributor to climate change. A byproduct of oil and gas production, methane is28 timesmore potent than carbon dioxide in trapping heat. A series of new incentives and regulatory measures could significantly reduce these emissions. The IRA allows Congress topenalizecompanies that exceed certain methane leakage limits, though this extends only to certain types of facilities. A new federalrulefrom 2023, however, intends to eliminate 58 million tons of methane emissions by 2038 and will go into effect in two years. These and other measures signal a shift toward holistic emissions reduction strategies and a new willingness to address these especially harmful emissions through regulatory means, which are likely to affect planners in oil- and gas-dominated production areas.