Senate Methane Vote a Win for Taxpayers, the Environment

Today’s bipartisan vote in the U.S. Senate to reject the rollback of common sense regulations to limit the waste of taxpayer-owned natural gas on federal lands is a victory for taxpayers and the environment. Taxpayers were facing the loss of $800 million in lost royalty revenue over the coming decade, and methane is one of the world’s most potent greenhouse gases. The U.S. Bureau of Land Management rule has a climate benefit equal to taking 950,000 vehicles off the road.
 
Andrew Logan, Ceres’ director of oil and gas, added:

The methane rule is a cost-effective measure containing critical health, environmental and fiscal protections for the American people. Repealing it would have seriously harmed the American taxpayer, allowing billions of dollars worth of natural gas—which belongs to the American people—to continue to be wasted due to preventable flaring, venting and leaks of gas extracted from federal and tribal lands in the U.S. Investors representing nearly $4 trillion in assets have consistently supported federal action to limit methane emissions to help reduce the impacts of climate change, promote economic growth and provide regulatory clarity for the oil and gas industry and investors. 

Ceres is a sustainability nonprofit organization working with the most influential investors and companies to build leadership and drive solutions throughout the economy. For more information, visit www.ceres.org and follow @CeresNews.