TODAY’S FOCUS: Range Resources Methane Reporting

An August 10, 2022 story by Zachary Mider on Bloomberg, Methane ‘Loophole’ Shows Risk of Gaming New US Climate Bill points out how “several energy companies have adopted an unorthodox interpretation of EPA rules to slash their reported methane emissions.”

“An unorthodox reading of a single word in the EPA regulations allowed Range to slash its reported emissions from energy production by 93% in 2020 compared with the approach used by most oil and gas companies. That’s enough to move the company from the bottom of its peer rankings to the top. The EPA says this interpretation isn’t valid, although Range insists that it is.” 

Zachary Mider | Methane ‘Loophole’ Shows Risk of Gaming New US Climate Bill | Bloomberg | 8-10-22

“the Inflation Reduction Act would impose a levy of as much as $1,500 a ton on methane releases above a certain threshold. It’s one of the only noteworthy sticks in Democratic climate-and-energy legislation. The stakes are high because one of the biggest sources of climate-warming pollution is natural gas itself. A 2018 study found about 60% more emissions from the oil and gas supply chain than what appears in EPA inventories. Range is one of a handful of companies identified by Bloomberg Green that use the unorthodox interpretation in annual disclosures to the agency.”

Zachary Mider | Methane ‘Loophole’ Shows Risk of Gaming New US Climate Bill | Bloomberg | 8-10-22

CLUSTER OF GAS PRODUCTION ACTIVITY IN AMWELL TOWSHIP, WASHINGTON COUNTY, PA IN 2021

It will be interesting to see if the House passes the Inflation Reduction Act today, with the methane language intact. Next would have to be much more meaningful methane emissions enforcement.

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