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Oil & Gas Greenhouse Gas Emissions Inflation Reduction Act (IRA)

K&L Gates LLP

Carbon Quarterly – Volume 9

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Carbon Quarterly is a newsletter covering developments in carbon policy, law, and innovation. No matter your views on climate change policy, there is no avoiding an increasing focus on carbon regulation, resiliency planning,...more

Holland & Knight LLP

$850 Million Now Available for Methane Emission Reduction Efforts: Applications Due Aug. 26

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The U.S. Environmental Protection Agency (EPA) and U.S. Department of Energy (DOE) on June 21, 2024, released a $850 million Funding Opportunity Announcement (FOA) to reduce methane emissions from oil and natural gas...more

Oliva Gibbs LLP

Measuring Methane: Understanding the EPA’s Final Revisions to Methane Reporting Regulations

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The Inflation Reduction Act (“IRA”) gave the federal government new authority to “tackle” the problem of methane emissions. On May 6, 2024, the United States Environmental Protection Agency (“EPA”) issued final revisions to...more

Foley & Lardner LLP

EPA Finalizes New Greenhouse Gas Reporting Obligations for Petroleum and Natural Gas Systems: More Companies Impacted; More Fees...

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On May 14, 2024, the U.S. Environmental Protection Agency (EPA) published the final Greenhouse Gas Reporting Rule requirements for petroleum and natural gas systems under 40 C.F.R. Part 98, Subpart W in the Federal Register....more

Jones Day

Greenhouse Gas Emission Reporting for Petroleum and Natural Gas Industry Overhauled

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The Situation: The United States Environmental Protection Agency ("EPA") was required to overhaul the greenhouse gas reporting requirements for the petroleum and natural gas industry by the Inflation Reduction Act ("IRA") in...more

Jones Day

Proposed Treasury Regulations Provide Guidance on New Clean Electricity Production and Investment Tax Credits

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The Department of Treasury and the Internal Revenue Service released newly proposed regulations regarding the clean electricity production and investment tax credits....more

Vinson & Elkins LLP

Worried About the WEC?: EPA Finalizes New Oil and Gas GHG Reporting Rules that Will Directly Impact How the Waste Emissions Charge...

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On May 14, 2024, the U.S. Environmental Protection Agency (“EPA”) published the final version of its revisions to the Greenhouse Gas Reporting Program (“GHGRP”) regulations for the oil and gas sector, often referred to as...more

Jackson Walker

Understanding the New EPA Fees for Oil and Gas Companies

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Oil and gas companies will soon be required to pay annual fees to the federal government based on their methane emissions. These fees, which the Environmental Protection Agency (EPA) expects will exceed $2 billion over the...more

Jones Day

U.S. EPA's New Methane Emissions Charge – My Wallet or Yours?

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On January 12, 2024, the EPA announced a proposed new rule entitled Waste Emissions Charge for Petroleum and Natural Gas Systems (the "Proposed Rule"). As required by Congress pursuant to the Inflation Reduction Act ("IRA"),...more

BakerHostetler

Methane Series Part III: Implementation Is Here. EPA Published the Proposed Rule Implementing the First-Ever Direct Tax on Methane...

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We wrote an overview of the methane tax after the Inflation Reduction Act was signed into law in August 2022 and Congress directed the Environmental Protection Agency (EPA) to impose the first-ever direct tax on methane...more

Vinson & Elkins LLP

The EPA’s Methane Waste Emission Charge: A Tax by Any Other Name

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The Environmental Protection Agency (EPA) has published a proposed rule to assess and collect billions of dollars in methane “waste emission charges” from the oil and gas sector....more

Vinson & Elkins LLP

Shaping the Future: Unraveling the Impact of COP27 and Anticipating the Path Forward at COP28

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In an historic turn of events at the 27th annual conference of the parties (or COP) to the UN Framework Convention on Climate Change (UNFCCC) hosted by Egypt in November 2022, nations rallied to address the realities of...more

Jones Day

Ahead of Methane Emission Fees, EPA Proposes New Reporting Rules for Petroleum and Natural Gas Industry

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The Situation: The Inflation Reduction Act ("IRA") requires the U.S Environmental Protection Agency ("EPA") to finalize new greenhouse gas reporting rules for the petroleum and natural gas industry based on "empirical...more

Brownstein Hyatt Farber Schreck

EPA Proposes Significant Revisions to GHG Reporting Requirements in Subpart W

When the Environmental Protection Agency (EPA) launched the Greenhouse Gas Reporting Program (GHGRP) in 2009, the objective was to collect and publicly report greenhouse gas emissions data across certain industries. Through...more

Troutman Pepper

The Next Phase of RNG Is Here, Now What?

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The utility industry is rapidly adopting biomethane, also known as renewable natural gas or “RNG,” to supplement traditional natural gas as a fuel source for both electric generation and heating purposes. Previously, RNG...more

Womble Bond Dickinson

Will Geopolitics Accelerate or Moderate Investment in Renewable Energy?

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Womble Bond Dickinson’s Houston office hosted a panel event - “Navigating the Complexities of Energy Transition: Balancing Energy Security with Net Zero Goals” – which featured discussions with energy industry executives. One...more

Vinson & Elkins LLP

EPA’s Bulked Up Quads: EPA Expands Far-Reaching Proposal for Regulating Methane in the Oil and Gas Sector

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Last November, the U.S. Environmental Protection Agency (EPA) published a regulatory preamble describing its plans for proposed standards to reduce methane emissions and other air pollutants from affected sources within the...more

Venable LLP

IRS Asks for Comment on Whether Existing Fossil-Based Hydrogen Production Methods Should be Eligible for the IRA Production Tax...

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The Inflation Reduction Act (IRA) contained an enormous benefit - valued in the billions of dollars - for the U.S. hydrogen industry in the form of a Production Tax Credit (PTC) for “qualified” green hydrogen produced over...more

Bracewell LLP

PRG Pulse 2022 Post-Election Analysis

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The Big Picture - Congressional Overview - American voters delivered a decidedly mixed message to Washington on Tuesday, seemingly handing Republicans narrow control of the U.S. House of Representatives and a nominal check...more

WilmerHale

Inflation Reduction Act: Environmental Provisions

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The Inflation Reduction Act (IRA), the Biden Administration’s signature legislative achievement, includes several provisions aimed at fighting climate change by reducing greenhouse gas (GHG) emissions. The law represents the...more

Holland & Knight LLP

Methane Emissions: New Developments in the Inflation Reduction Act

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The recently enacted Inflation Reduction Act (IRA) contains several new provisions related to methane emissions impacting oil and gas companies, including upstream and midstream. Companies who already report emissions to the...more

BakerHostetler

What's Next in the Regulation of Methane Emissions?

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What’s Next in the Regulation of Methane Emissions? Previously in our sessions, I have discussed carbon dioxide and what policymakers should do about it. Last month I explained it in full in a speech to the Independent...more

Latham & Watkins LLP

Nine Takeaways From the Inflation Reduction Act’s Climate Initiatives

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The Act promises to touch on almost every aspect of US climate policy. On August 16, 2022, President Biden signed into law the Inflation Reduction Act (the Act), which expands clean and renewable energy production,...more

Mintz - Energy & Sustainability Viewpoints

Update: President Biden Signs Historic Legislation Providing Expansive Clean Energy Tax Incentives

On August 16, 2022, President Biden signed the “Inflation Reduction Act of 2022” (the “Act”), which includes the largest single investment in clean energy in United States history. The Act extends and expands existing tax...more

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