Maxwell Bernstein | March 20, 2021
The Methane Emissions Reduction Act is a proposed bill that if passed, would direct the Department of Treasury to place a fee on methane emissions from oil and gas production by 2023, according to Reuters.
Democratic Senators Cory Booker, Sheldon Whitehouse, and Brian Schatz – the Senators who proposed the bill – said it would help achieve climate change targets and improve the air quality for residents near oil and gas facilities. The bill calls on the Department of Treasury to work with the EPA and NOAA to develop a program that monitors and tracks methane emissions from oil companies in the major oil basins.
“This bill will hold oil and gas companies financially responsible for their methane pollution and make methane emissions from fossil fuel production cost prohibitive, steps that will go a long way in the fight against climate change and to protect air quality in local communities,” Senator Cory Booker of New Jersey said.