The Biden administration has unveiled a $350 million grant initiative aimed at monitoring and reducing methane emissions from the oil and gas industry. This move, which also encompasses the restoration of well sites, is a significant step in the U.S. government's efforts to combat climate change.
Methane, a potent greenhouse gas, is a major contributor to global warming. The funding for this initiative has been jointly announced by the U.S. Environmental Protection Agency (EPA), U.S. Department of Energy (DOE), and DOE’s National Energy Technology Laboratory (NETL). The funds are sourced from the Inflation Reduction Act, signed into law last year, which also seeks to bolster the renewable energy market and mitigate climate change emissions.
The Methane Emissions Reduction Program, created under the Clean Air Act, will oversee the initiative. This program aims to enhance oil and gas efficiencies, generate new energy sector jobs, and reduce emissions. Oil and gas well owners, as well as operators of relevant facilities, can voluntarily tap into this funding to minimize methane emissions from leaks and daily operations on non-federal lands.
U.S. Secretary of Energy, Jennifer M. Granholm, emphasized the importance of this initiative, stating, “Methane is a much more potent greenhouse gas than carbon dioxide, so it’s crucial that we work closely with states and industry to develop solutions that will cut emissions at their source.” She also highlighted the role of President Biden's Investing in America agenda in bolstering efforts to monitor and mitigate methane emissions.
This grant announcement follows the Methane Emissions Reduction Program's disclosure of its $1.55 billion budget. Both the EPA and DOE have plans to roll out grant competitions in the future, offering technical support for methane emission reductions.
The agencies anticipate that the combination of technical and financial assistance will enhance the efficiency of U.S. oil and gas operations. This move is expected to open new economic opportunities in energy communities and achieve near-term emission reductions.
This initiative is part of the broader U.S. Methane Emissions Reduction Action Plan, which has already implemented over 80 actions since its launch in November 2022. The EPA and DOE, in collaboration with the new White House Methane Task Force, are taking proactive measures to detect methane leaks, ensure data transparency, and support state and local efforts to regulate methane emissions.
Samira is an Electronics and Communications Engineer by profession, but deep inside, her heart is a nomad! She's a state champion debater, a public speaker, a scriptwriter, a theater actress, but most importantly — A GREEN CITIZEN! She thinks of herself as a storyteller who thrives on enjoying the life at fullest and telling everyone the tales of life.
Business & Policies ,
$350M Grant To Curb Methane Emissions in Oil, Gas Sector
by : Samira Tasneem | Published: September 9, 2023
Biden’s administration unveils a hefty grant to curb methane emissions. Dive into how this initiative reshapes the U.S. approach to climate change.
The Biden administration has unveiled a $350 million grant initiative aimed at monitoring and reducing methane emissions from the oil and gas industry. This move, which also encompasses the restoration of well sites, is a significant step in the U.S. government's efforts to combat climate change.
Methane, a potent greenhouse gas, is a major contributor to global warming. The funding for this initiative has been jointly announced by the U.S. Environmental Protection Agency (EPA), U.S. Department of Energy (DOE), and DOE’s National Energy Technology Laboratory (NETL). The funds are sourced from the Inflation Reduction Act, signed into law last year, which also seeks to bolster the renewable energy market and mitigate climate change emissions.
According to Environmental Leader,
U.S. Secretary of Energy, Jennifer M. Granholm, emphasized the importance of this initiative, stating, “Methane is a much more potent greenhouse gas than carbon dioxide, so it’s crucial that we work closely with states and industry to develop solutions that will cut emissions at their source.” She also highlighted the role of President Biden's Investing in America agenda in bolstering efforts to monitor and mitigate methane emissions.
This grant announcement follows the Methane Emissions Reduction Program's disclosure of its $1.55 billion budget. Both the EPA and DOE have plans to roll out grant competitions in the future, offering technical support for methane emission reductions.
The agencies anticipate that the combination of technical and financial assistance will enhance the efficiency of U.S. oil and gas operations. This move is expected to open new economic opportunities in energy communities and achieve near-term emission reductions.
This initiative is part of the broader U.S. Methane Emissions Reduction Action Plan, which has already implemented over 80 actions since its launch in November 2022. The EPA and DOE, in collaboration with the new White House Methane Task Force, are taking proactive measures to detect methane leaks, ensure data transparency, and support state and local efforts to regulate methane emissions.
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Samira Tasneem
Samira is an Electronics and Communications Engineer by profession, but deep inside, her heart is a nomad! She's a state champion debater, a public speaker, a scriptwriter, a theater actress, but most importantly — A GREEN CITIZEN! She thinks of herself as a storyteller who thrives on enjoying the life at fullest and telling everyone the tales of life.
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