Stricter federal methane regulations are probably one of the few areas where environmentalists, oil majors and the top oil lobbying group are all on the same page. That makes it a slam dunk for President Biden.
On Tuesday, the U.S. Environmental Protection Agency announced tightened methane rules that would, among other things, seek to regulate emissions at existing wells for the first time. It also places more stringent requirements on new wells. The EPA estimates that the rules will reduce methane emissions from covered sources by 74%, compared with 2005 levels.
