The Inflation Reduction Act, the 2021 U.S. climate law abbreviated IRA, primarily reduces emissions through financial incentives, rather than binding rules. But in addition to all its well-known carrots, lawmakers quietly included a smaller number of sticks — particularly when it comes to the potent greenhouse gas methane, which has proven to be a pesky source of increasing climate pollution with each passing year. New research suggests that those sticks could soon batter the oil and gas industry, which is responsible for a third of all methane emissions in the U.S.
An IRA provision directs the Environmental Protection Agency, or EPA, to charge $900 for every metric ton of methane above a certain threshold released into the atmosphere in 2024. The issue is particularly challenging to tackle in oil and gas fields because methane is the primary…