The methane charge is among the last actions the outgoing administration has taken to tackle the second most prevalent greenhouse gas after carbon dioxide that tends to leak into the atmosphere undetected from drill sites, gas pipelines and other oil and gas equipment.The fee will start at $900 per metric ton of methane emitted in 2024, and increase to $1,200 in 2025, and $1,500 for 2026 and beyond. Under the rules, it would only apply to facilities that release more than 25,000 tons per year of carbon dioxide equivalent, according to the Environmental Protection Agency's announcement.The Biden administration announced the rule on the second day of the United Nations COP29 climate change conference in Baku, Azerbaijan, which includes a special side event on methane.The US had led the push for a Global Methane Pledge, a voluntary pact signed by over 100 countries that seeks to cut global methane emissions 30 per cent by 2030. The world's top oil and gas producer has also made cooperation on methane a centrepiece of its climate engagement with China.The fee was mandated by the 2022 Inflation Reduction Act. The EPA last year finalized methane emission standards for the oil and gas sector, but had not completed rules for the fee intended to penalize companies that miss those standards.

US imposes methane fee on oil, gas producers...

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is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 88 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.

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which gives digital readers unlimited access to 9,000+ magazines and newspapers for a monthly subscription price. Magzter also has the largest number of stories in the world with its game-changing ezRead 2.0 feature for its apps, which enables smartphone and small-screen mobile users to enjoy magazine content the way it was meant to be enjoyed, with article text that is easy to read and is accompanied by stunning videos and high resolution photography.

{{magzter}} is the World's largest and fastest growing self-service, cross-platform digital newsstand with over 88 million users since its inception in 2011 and thousands of magazines and newspapers across 40+ categories and 60+ languages. Headquartered in New York, Magzter has its local presence in Amsterdam, London, Mexico City, Chennai, Mumbai, New Delhi, Bengaluru, Singapore, and will soon be expanding to other countries. Founded by global entrepreneurs, Girish Ramdas and Vijay Radhakrishnan in June 2011, Magzter enables magazine and newspaper publishers around the world to create and deliver digital editions of their titles to global consumers.