New federal regulations designed to cut methane emissions in the oil and gas industry have the Texas Railroad Commission up in arms.
President Obama revealed the latest regulations as part of his broader plan to fight climate change. The plan requires oil and gas companies to cut methane pollution from drilling sites, distribution systems and in other areas of operation by 32 percent from 2005 levels by 2030.
Oil and gas producers are already fatigued from months of low crude prices and new regulations may be more than most can handle. The EPA estimates that the ruling might cost the industry as much as $420 million.
Methane is the key component of natural gas and has a high impact on global warming — up to 25 times that of carbon dioxide. In April, a nationwide study showed that methane emissions across the United States had dropped significantly in the past two decades and are much lower than current Environmental Protection Agency estimates. Read more here