Industry Impacts: Implications of the EPA’s New Rule

In 2021, the Environmental Protection Agency (EPA) proposed a rule in response to President Joe Biden’s Executive Order, aiming to revise emissions regulations in the oil and natural gas sector. This initiative sought to reduce methane and volatile organic compound (VOC) emissions by reassessing the New Source Performance Standards (NSPS) and proposing new regulations for both new and existing operations in exploration, production, transmission, processing, and storage, with a target completion date of September 2021.1

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