NEW YORK, Oct 28 (Bernama-Xinhua) — US President Donald Trump announced plans on Tuesday to roll back regulations aimed at curbing methane emissions from oil and gas operations, arguing that the move would reduce costs and boost domestic energy production, reported Xinhua.
“Tonight, I’m officially terminating Biden’s expensive and unnecessary methane regulations to save consumers and energy producers US$45 billion,” Trump said at a campaign rally in Lubbock, Texas.
The move would “unlock vast quantities of Texas natural gas” and allow the production of an additional 210 million barrels of oil, Trump said.
The announcement came amid rising fuel prices driven by the US war with Iran, as Trump seeks to ease energy costs ahead of the Nov. 3 midterm elections.
According to the US Environmental Protection Agency, the proposed rollback of Biden-era regulations would eliminate a programme for identifying and addressing major methane leaks, ease requirements for low-producing oil and gas wells, and relax restrictions on routine flaring of natural gas at oil wells.
The United States is the world’s leading emitter of methane from its oil and gas sector, followed by Russia, according to the International Energy Agency. Texas is by far the leading fossil fuel-producing state in the United States.
Methane, the main component of natural gas, is the second-largest cause of global warming after carbon dioxide. It is estimated to be responsible for nearly a third of global warming observed today.
–BERNAMA-XINHUA