Thanks to Manchin, IRA's Methane Fee on Big Oil Is Riddled With Massive Holes

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Thanks to Manchin, IRA's Methane Fee on Big Oil Is Riddled With Massive Holes
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The new law's methane emissions penalty 'was weakened so that it applies to basically no one,' said one climate campaigner.

methane emissions given that 60% of the oil and gas industry is exempt from the penalty.

"In another concession made to Manchin, oil and gas companies that comply with the Environmental Protection Agency's forthcoming methane rules due later this year would also be exempted from the fee. The rules require companies to upgrade equipment, monitor leaks, and clean them up," the outlet noted.

Methane is more than 80 times more potent at heating the planet than carbon dioxide over a 20-year period, and experts havereining in emissions of the gas as"the biggest opportunity to slow warming between now and 2040."

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