News & Announcements

In mid-June the Democratic party is evidently debating whether a carbon tax should be part of the party’s election platform. Donald Trump does not support a carbon tax. Congressional Republicans consistently oppose a carbon tax. However, there is a sense that Republicans may prefer a carbon tax to additional carbon emissions regulations or as part of comprehensive tax reform. Currently, California and nine other states, most of Canada, and the European Union price carbon, generally through cap and trade systems. These systems have operational problems and their benefits are unclear.

On May 12 the Environmental Protection Agency (EPA) issued its final rule that aims to reduce emissions from new and modified oil and natural gas facilities: New Source Performance Standards for methane and volatile organic compounds (VOC). At the same time EPA announced its plan to apply the rule to existing wells and facilities, but first EPA needs additional information about the size and scope of the oil and natural gas industry as well as emissions data. A planned Information Collection Request (ICR)  would require the operator of every onshore production facility to report on wells and facilities, throughput and emissions.