Methane Fee In Build Back Better Act Would Add $250 Billion To U.S. GDP, Cut Dangerous Climate Pollution

Methane Fee In Build Back Better Act Would Add $250 Billion To U.S. GDP, Cut Dangerous Climate Pollution

Share to Linkedin Senator Joe Manchin's opposition to the Build Back Better Act's Clean Electricity Performance Program has garnered headlines in the federal reconciliation debate, but another major climate rule is at stake with powerful opponents – a methane fee on emissions from oil and natural gas systems. New modeling finds the Build Back Better Act's fee on methane emissions from petroleum and natural gas systems is a critical component of the legislation's overall climate impact, responsible for 65 percent of the Act's reduction of industrial greenhouse gas (GHG) emissions through 2050. Investments in new equipment to capture leaks and revenue raised from a fee would also spur sustainable economic growth for decades, adding $250 billion to U. S. GDP and creating more than 70, 000 jobs by 2050. The methane fee is a straightforward policy with minor costs and major benefits for the U. S. economy, workers, and the climate. It could also provide meaningful improvements in air quality and help correct long-standing injustices for communities located near oil and gas sites. Flames from a flaring pit near a well in the Bakken Oil Field. The primary component of natural gas ... [+] is methane, which is odorless when