Biden's Methane Fee: A Crucial Step or Short-lived Measure?

The Biden administration finalized a methane fee aimed at curbing emissions from oil and gas producers, a move likely to be overturned by the incoming Republican-led government. Set to start in 2024, the fee is part of broader efforts to tackle climate issues and was mandated by the Inflation Reduction Act.

The Biden administration has finalized a methane fee aimed at cutting emissions from major oil and gas producers, aligning with global climate objectives.

This measure is part of a broad strategy to address climate change by targeting the second most prevalent greenhouse gas after carbon dioxide.

However, with Republicans poised to gain control, the future of this regulation remains uncertain, as industry groups push for its repeal.

(With inputs from agencies.)