Washington, DC [US], June 22 (ANI/WAM): The US Department of Energy (DOE) and the US Environmental Protection Agency (EPA) today announced that applications are open for USD 850 million in federal funding for projects that will help monitor, measure, quantify, and reduce methane emissions from the oil and gas sectors as part of President Biden's Investing in America agenda.
Oil and natural gas facilities are the nation's largest industrial source of methane, a climate "super pollutant" that is many times more potent than carbon dioxide and is responsible for approximately one-third of the warming from greenhouse gases occurring today.
The funding opportunity announced today is a part of the Biden-Harris Administration's comprehensive, whole-of-government strategy to reduce harmful methane emissions across economic sectors, as outlined in the US Methane Emissions Reduction Action Plan.
Today's announcement builds on unprecedented action across the Biden Administration to dramatically cut methane pollution, with agencies taking nearly 100 actions in 2023 alone, including the finalization of an EPA rule that will yield an 80 per cent reduction in methane emissions from covered oil and gas facilities.
This funding from the Inflation Reduction Act--the largest climate investment in history--will help mitigate legacy air pollution, create good jobs in the energy sector and disadvantaged communities, reduce waste and inefficiencies in US oil and gas operations, and realize near-term emissions reductions, helping the United States reach President Biden's ambitious climate and clean air goals.
The funding will specifically help small oil and natural gas operators reduce methane emissions and transition to available and innovative methane emissions reduction technologies, while also supporting partnerships that improve emissions measurement and provide accurate, transparent data to impacted communities. Today's announcement constitutes a key part of broader technical and financial assistance to be provided by the Methane Emissions Reduction Program.
"As we continue to accelerate the nation's clean energy transition, we are taking steps now to drastically reduce harmful emissions from America's largest source of industrial methane - the oil and gas sector," said U.S. Secretary of Energy Jennifer M Granholm. "I am proud to partner with EPA to help revitalize energy communities and deliver long-lasting health and environmental benefits across the country." (ANI/WAM)
