WASHINGTON DC (11/12/24) – The Biden-Harris administration is poised to finalize a new methane emissions tax for U.S. oil and gas producers today.
The tax, mandated by President Joe Biden’s 2022 Inflation Reduction Act, was originally outlined but left to the Environmental Protection Agency to finalize. The finalized rule will impose a penalty of $900 per metric ton on methane emissions that exceed a government-set threshold.
AEA President Thomas Pyle issued the following statement in response:
“Reliable and affordable energy is critical for American households, businesses, and manufacturers to thrive. Having decisively lost an election where energy policy was a key issue, the Biden administration is using its final days to impose taxes that will raise energy costs for Americans. Repealing this tax on natural gas should be a top priority for Republican leaders in the new Congress.”
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