News & Analysis as of

Inflation Reduction Act (IRA) Methane Oil & Gas

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

Jackson Walker

Understanding the New EPA Fees for Oil and Gas Companies

Jackson Walker on

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

Jones Day

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

Jones Day on

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

Vinson & Elkins LLP

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

Vinson & Elkins LLP on

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

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

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