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A new report from the International Energy Agency (IEA) shows that Big Oil could meaningfully reduce methane emissions with less than three percent of last year's profits. Methane is a potent greenhouse gas responsible for around 30 percent of the rise in global temperatures. Cutting methane emissions is one of the most effective ways to limit climate change and improve air quality. The energy sector (including oil, natural gas, coal, and bioenergy) is responsible for nearly 40 percent of methane emissions from human activity. After 2022's windfall profits, Big Oil could quickly and meaningfully address methane leaks without breaking the bank, yet the IEA reports that emissions remain high.
The IEA's Global Methane Tracker shows that most oil and gas companies have made little progress in reducing their methane emissions, despite pledging to cut leaked methane emissions to zero by 2030. According to the report, it would require just $100 billion across the entire oil and gas industry to cut methane leaks by 75 percent using existing technologies.
“The untamed release of methane in fossil fuel production is a problem that sometimes goes under the radar in public debate,” said IEA executive director Fatih Birol in a statement. “Unfortunately, it’s not a new issue and emissions remain stubbornly high. Many companies saw hefty profits last year following a turbulent period for international oil and gas markets amid the global energy crisis. Fossil fuel producers need to step up and policymakers need to step in – and both must do so quickly.”
With this report, the IEA calls on the oil and gas industry to take immediate action on methane emissions and argues that there is "no excuse" for companies not to take this relatively easy and inexpensive step.
Judge rejects bid to halt construction of Nevada lithium mine
A federal district judge rejected the attempt by ranchers, environmental groups, and Tribes to block the construction of a lithium mine near Thacker Pass, Nevada. Judge Miranda Du concluded the plaintiffs were unlikely to win an appeal challenging her February 6 ruling, which found the Bureau of Land Management complied with federal law when it approved plans for the Thacker Pass mine in January 2021.
The proposed mine, which contains lithium needed for electric vehicle batteries, has faced opposition from environmentalists and Indigenous groups concerned about the impact on the local ecosystem, wildlife, and cultural resources. While acknowledging the validity of the environmental concerns, Du stated that "the Court indeed expects that Lithium Nevada unfortunately will soon begin ripping out sagebrush that will not grow back for a very long time." Despite this, Du said that the environmental groups did not present a strong enough case that their arguments would succeed on appeal.
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Our nation’s protected public lands contain scientifically important landscapes and cultural and historic sites that are tremendous assets to our communities. They play a critical role in our way of life and support our economies, health, and well-being. They help contribute to a better tomorrow for future generations that also honors the past. The Antiquities Act conserves vital places so our stories can be told and experiences can be shared for generations to come.”
