"US Proposes Fines for Oil and Gas Companies Over Methane Emissions"

The Biden administration plans to impose a fee on oil and gas companies for excess methane emissions, with penalties ranging from $900 to $1,500 per ton. This move is part of a comprehensive strategy to reduce methane emissions, which are a significant contributor to global warming. While the industry largely supports efforts to detect and stop methane leaks, it opposes the monetary penalties, arguing that they would raise energy costs for consumers. Environmental groups are concerned about the reliance on self-reporting by energy producers and the lack of government verification. The proposed regulation will undergo a 45-day public comment period before becoming final.