WASHINGTON – AXPC is reviewing the details of EPA’s oil and natural gas methane rule proposal for new and existing sources, released today, and plans to provide specific comments on ways that America’s independent oil and natural gas producers can continue to collaborate with EPA on the federal regulation of methane.
“AXPC supports effective and reasonable regulation of methane that balances the essential need of US oil and natural gas production with the global challenge of addressing climate change. Our industry is committed to working with EPA on the federal regulation of methane, in a manner that creates regulatory certainty for our industry and our workers. The appropriate policy tool to further reduce methane emissions is through the EPA regulatory process, rather than adding new, punitive taxes on the industry through a methane tax,” said AXPC CEO Anne Bradbury, stressing that the EPA regulatory process is the appropriate way to address methane emissions in the US.
AXPC member companies invest and deploy new technologies and often go above and beyond federal regulation, as part of their efforts to drive down methane emissions from upstream operations. American producers’ commitment to environmental protection is clear, as the United States is a world leader in both energy production, and CO2 emissions reductions over the past two decades.
AXPC hopes to continue constructive discussions to ensure: regulations are cost-effective and workable; our industry’s investment and development of emissions reduction technologies can be utilized for compliance; the US can capitalize on opportunities to further emissions reductions here and abroad; the need for EPA recognize the economics and circumstances that are different for existing and new sources; and the importance of federal regulations that are both workable and can withstand legal scrutiny.
“The methane regulations proposed today by EPA will likely result in significant new costs associated with compliance. The new methane tax being proposed in the reconciliation bill, on top of the regulatory costs being imposed on our industry through compliance with EPA rules, would be an additional and punitive tax on industry. This methane tax would disadvantage American producers and increase Americans’ energy costs, cause 90,000 jobs lost across the country, and an additional $9 billion lost from our country’s GDP,” said Bradbury.
About the American Exploration and Production Council:
AXPC is a national trade association representing the largest independent oil and natural gas exploration and production companies in the United States. We lead the world in the cleanest and safest onshore production of oil and gas, while supporting millions of Americans in high-paying jobs and investing a wealth of resources in our communities. Learn more at https://www.axpc.org/