The News
US gas companies risk losing access to global export markets if the Trump administration walks back regulations and fees for methane pollution, the CEO of a leading climate philanthropic group told Semafor.
This week, the Biden administration finalized a fee of up to $900 per ton of methane above a certain baseline by oil and gas operations.
Darren Woods, the CEO of ExxonMobil, told Semafor that he supports keeping the methane rules in place, remarks that echo those of his counterpart at TotalEnergies.
But they will likely be among the climate policies on the chopping block in Trump’s Environmental Protection Agency.
Marcelo Mena, CEO of the Global Methane Hub, agreed with Woods that cutting the rule would be a mistake, as a growing list of governments representing 70% of the global gas import market, including Japan, Korea, and the EU, implement strict methane emissions requirements.
“If the US wants to drill baby drill, it’s going to have to be with low methane,” Mena said.