WASHINGTON (MAY 12, 2016)— The U.S. Environmental Protection Agency finalized the first-ever federal standards for methane emissions from new and modified sources in the oil and natural gas sectors. Methane is a potent greenhouse gas pollutant, with up to 34 times more global warming potential than carbon dioxide, and it accounts for roughly one-quarter of human-made global warming. Methane valued at more than $1 billion escapes from oil and natural gas extraction processes in the U.S.
oil and gas
A new U.S.-Canada joint will cut methane emissions from oil and gas systems by 40-45 percent below 2012 levels by 2025. It's a big step toward meeting both countries' climate goals—methane is a greenhouse gas 34 times more potent than carbon dioxide.
Water scarcity challenges industries around the world. Global population growth and economic development suggest a future of increased demand, competition, and cost for limited freshwater supplies. Scarcer water, in turn, creates new challenges for energy supply because coal, oil, gas, and...
This bubble chart shows the water and energy intensity of various industries. The bubble size is proportional to revenue (2013 figures). Source: Bloomberg Terminal (accessed summer 2015).
If successful, the new international climate agreement forged in Paris will send strong signals to financial markets—and therefore to businesses and investors—about the direction of energy for the foreseeable future.
Potential emissions of oil and gas companies’ fossil fuel reserves could make or break whether the world stays within its "carbon budget."
Satellite measurements have shown evidence that methane emissions from U.S. natural gas production are likely a much larger problem than the EPA or the oil and gas industry acknowledges.
Recent research from WRI and the Rights and Resources Initiative found that the world’s 513 million hectares of legally recognized community forests store 37 billion tonnes of carbon—29 times the annual carbon footprint of the world’s passenger vehicles.
The impacts of oil extraction in Ecuador illustrate why secure community forest rights are necessary to protect both livelihoods and the environment.
Christine Lagarde, Managing Director of the IMF, recently launched the latest book in a series on what good fiscal policy should look like in a world of environmental externalities.
The message was clear: Ministers of finance and economics should design their tax systems skillfully so as to tax bad things, like pollution and congestion, rather than good things like work and profit. Not to do so is plain, bad economics.
A new report from the International Monetary Fund (IMF), Getting Energy Prices Right: From Principle to Practice, argues that the costs of coal, natural gas, gasoline, and diesel fail to account for these fuels’ environmental and social impacts—such as greenhouse gas emissions, air pollution, and traffic deaths.
Setting prices that reflect these side effects—through taxes, licensing, or cap-and-trade systems—could reduce deaths from fossil fuel-related air pollution by 63 percent, decrease global carbon dioxide emissions by 23 percent, and generate revenues totaling about 2.6 percent of global GDP.