Oil and gas company operators have absolutely no incentive to waste the very commodity they make a living producing. So, what we’ve seen over the years is a proactive attempt to capture as much methane as possible – without being mandated by government. No surprise, it has worked effectively. Methane emissions have dropped by more than 50 percent during the drilling process. While some activists think that businesses need to be more aggressively regulated, NMBC knows that’s rarely, if ever, the case. What we’ve seen here is the free market taking care of itself and accomplishing a two-fold win for New Mexicans: 1) Less methane emissions into the atmosphere; and 2) More methane captured for use, which increases the companies’ profits and the state’s coffers.
New Mexico regulators report a drop in methane emissions:
State regulators say methane emissions from oil and natural gas production in New Mexico have dropped by more than 50 percent over the past year thanks to advances in technology and changes in the way wells are drilled. Energy, Minerals and Natural Resources Secretary Ken McQueen told a panel of state lawmakers Friday that most companies that are actively drilling are reporting the volumes of methane intentionally released through venting and flaring as part of their operations. McQueen says out of the 60,000 active wells that are documented each month, his agency found 56 instances in which operators failed to report the required data. Environmentalists say the state isn’t accounting for methane pollution resulting from leaks and that allowing the gas to escape is costing New Mexico millions of dollars in lost tax revenues and royalties. Read more HERE.
Federal regulators report drop in methane emissions 47% in the Four Corners Region:
Environmental groups have repeatedly attributed the Four Corners methane “hot spot” over the borders of New Mexico, Colorado, Arizona and Utah to oil and gas development, using it as the focal point of their justification for the Bureau of Land Management’s (BLM) controversial venting and flaring rules on federal lands. But there is a huge issue with this strategy — the entire premise is not supported by the facts. Read more HERE.