Oil and natural gas companies would have to pay a fee for methane emissions that exceed certain levels under a new rule proposed by the Biden administration. The rule proposed by the Environmental Protection Agency follows through on a directive from Congress included in the 2022 climate law. The new fee is intended to encourage industry to adopt best practices that reduce emissions of methane, a potent greenhouse gas. EPA Administrator Michael Regan said the proposed fee would work in tandem with a final rule on methane emissions EPA announced last month. Excess methane produced this year would result in a fee of $900 per ton, with fees rising to $1,500 per ton by 2026.
