The Biden administration's new EPA rule introduces a federal fee on methane emissions for the oil and natural gas sector, aiming to drive down climate change impacts.
Methane is deemed a climate 'super pollutant', significantly more potent than carbon dioxide in the short term, and is a major contributor to greenhouse gas emissions.
The EPA's fee structure is aimed at incentivizing better practices in methane management, with fees set to escalate from $900 to $1,500 per ton over three years.
The rule's implementation comes as a response to Congress's directive in the 2022 climate law, marking a significant regulatory shift in methane management.
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