CEO DATELINE - Oil and gas groups bash new methane rules
CEO DATELINE - Oil and gas groups bash new methane rules
- May 17, 2016 |
- Walt Williams
Consider joining CEO Update. Membership gives full access to the latest intelligence on association management, career advancement, compensation trends and networking events, as well as hundreds of listings for senior-level association jobs.
The Obama administration announced Friday new rules for cutting methane emissions from oil and gas wells— a decision many energy groups called unreasonable.
Methane is a greenhouse gas many times more potent in trapping heat than carbon dioxide, which is the main culprit in climate change. The new rules are part of a broader attempt by the White House to cut methane emissions by the oil and gas industry 45 percent by 2025, Scientific American reported. http://bit.ly/1NwSnNz
The American Petroleum Institute responded to the announcement with a statement saying the new rules could slow down the extraction of natural gas, which has helped drive down energy costs. The group said the industry, acting on its own, already has reduced methane emissions coming from oil and gas operations.
"It doesn't make sense that the administration would add unreasonable and overly burdensome regulations when the industry is already leading the way in reducing emissions. Imposing a one-size-fits-all scheme on the industry could actually stifle innovation and discourage investments in new technologies that could serve to further reduce emissions," said Kyle Isakower, API vice president or regulatory and economic policy. http://bit.ly/1NwSQj4
The Independent Petroleum Association of America also warned the rules threatened the progress the industry had made in reducing methane emissions. The group noted that when it comes to climate change, methane from oil and gas operations only accounts for 2 percent of the nation's greenhouse gas emissions.
"It appears this administration has once again sided with extreme environmental activists, instead of encouraging the growth of America's small businesses and strengthening our nation's energy security," IPAA Executive Vice President Lee Fuller said. http://bit.ly/1V7CoXY
MORE CEO DATELINE
- Business groups, consumer advocates clash on workplace wellness rules
- Anticounterfeiting coalition suspends Chinese retailer's membership after outcry
- Fly-in participants this week include doctors and golfers
- Three members leave anticounterfeiting group after Chinese retailer joins
- Food groups try to define what is natural