Trump EPA moves to weaken methane rules as gas prices top $4 a gallon

The proposal targets rules finalized by the Biden administration in 2024, which set methane-emissions standards for new and existing oil and natural gas operations, including requirements for detecting and repairing leaks. The Trump administration argues these requirements imposed excessive costs, particularly on smaller operators and owners of marginal wells, which account for roughly four out of every five producing wells in the nation.

The proposal estimates $45 billion in savings for consumers and businesses from 2027 to 2050, and projects an additional 210 million barrels of domestic oil production and 1.41 trillion cubic feet of natural gas over the same period.

“The Biden administration’s short-sighted plan to kill domestic energy production hurt hard-working families, crushed our businesses, and threatened the communities that power our nation,” Interior Secretary Doug Burgum said in a press release.

Jody Freeman, a Harvard Law professor, wrote in a guest piece for the Los Angeles Times about an earlier EPA proposal that “the irony is that no industry asked for this extreme step.” The EPA’s own regulatory impact analysis estimates about 60 million additional short tons of methane from 2027 to 2050.

The proposal is not yet final. The EPA said it would hold at least a 45-day public comment period and a public hearing after the rule is published in the Federal Register, so no final rule can land before next week’s midterm elections. Crude oil was trading around $103.99 as the Iran war continued. Reuters data cited by Fortune showed that regular gasoline averaged $3.472 a gallon during Trump’s second presidency, narrowly exceeding the $3.471 average during Biden’s four years in office.