|
Last week, New Mexico regulators finalized a rule to eliminate routine venting and flaring from drilling operations, a major step to reduce air pollution and climate emissions from the state's booming oil and gas industry. With a unanimous vote, the New Mexico Oil Conservation Commission adopted regulations requiring drillers to capture at least 98% of the gas produced by their wells. Companies who fail to meet capture rates could see their drilling permits denied.
Notably, after two years of development, the final rules were supported by both environmentalists and the New Mexico Oil and Gas Association. In coming years, oil and gas companies will be required to retrofit old storage tanks and infrastructure with newer technology and monitoring systems, a requirement that is expected to drive innovation and create jobs.
“The 98% capture is an ambitious target that will secure significant methane waste reductions that will directly benefit New Mexico’s environment,” said Sarah Cottrell Propst, head of the New Mexico's Energy, Minerals and Natural Resources Department. “Oil and gas operations make up the biggest portion of greenhouse gas emissions in New Mexico and the rules established today will lead to reductions across the board beginning in 2022.”
|
Montana’s economy is hurt more than most states by out-of-control federal leasing. Nearly 1.1 million federal acres in Montana — the most among lower 48 states — are locked up in suspended leases producing nothing, not even rent. In 2019, another 1.2 million acres of technically “active” leases — 64% of such leases — were idle and not producing any oil or gas.”
