WASHINGTON, DC – The American Council for Capital Formation (ACCF) has launched a social media, digital, and print ad campaign urging the U.S. Senate to pass the Congressional Review Act (CRA) Disapproval Resolution repealing the Bureau of Land Management’s (BLM) duplicative and costly venting and flaring rule.
The campaign is focused on Washington, D.C., West Virginia, Ohio, Tennessee, Colorado, Indiana, and North Dakota.
“BLM’s venting and flaring rule is a classic case of the federal government implementing a solution in search of a problem,” said ACCF Vice President and Chief Counsel Tim Doyle. “Between industry advancements and work being done at the state regulatory level, states already have effective measures in place that have significantly decreased methane emissions. Not only is this rule redundant, it comes with a hefty price tag that will reduce tax revenues by over $110 million annually. The Senate should follow the lead of the House of Representatives and vote in support of the Congressional Review Act Disapproval Resolution to repeal this duplicative and costly rule.”
Last month, the House voted 221-191 to overturn BLM’s venting and flaring rule using the CRA. The Senate is expected to take up the measure in the coming weeks. The BLM rule was one of the midnight regulations set in motion by President Barack Obama last year. But the rule conflicts with effective state regulations that are already in place.
Natural gas is mostly methane, which means it’s in the best interest of every oil and gas producer to capture as much methane as economically possible. Due to technical innovations and effective state regulations, methane emissions have already fallen dramatically. EPA’s latest data show methane emissions from petroleum systems have declined by 17 percent since 2011, due in large part to “decreases in emissions from associated gas venting and flaring.”
BLM’s rule would impose an enormous cost on taxpayers and the broader economy. A recent economic analysis found that it would eliminate thousands of jobs, impose costs of just under $1 billion annually and eliminate about $114 million annually in federal and state taxes.
Click here for more on BLM’s duplicative and costly methane rule.