Methane Rules Would Cost U.S. Producers Over $1 Billion a Year
- EPA forecasts an impact of less than 2% on natural gas prices
- Estimated costs represent a tiny fraction of industry’s gains
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U.S. oil and natural gas producers would have to spend a negligible fraction of profits to comply with tougher methane rules proposed by the Biden administration.
The measures would cost up to $1.2 billion annually, the U.S. Environmental Protection Agency announced Tuesday, and would be spread out over hundreds of thousand of wells. That’s a sliver of the more than $70 billion in projected earnings for the 10 largest American drillers alone this year.