Oil and gas companies across the value chain are facing new pressures to manage and reduce methane emissions. Their ability to access premium markets and buyers, appeal to investors and avoid costly fees depends on developing a credible plan to measure and reduce methane emissions. At the very least, the industry’s regulatory outlook, its non-governmental quasi-oversight and its access to capital are changing in ways that make understanding sometimes inconsistent emissions data vitally important. In today’s RBN blog, we explore the recent changes and the mounting external pressures around methane emissions.
In Part 1 of this blog series we discussed how operators can begin to address key environmental goals while protecting — even improving — their bottom line. We also explained why the push to reduce methane emissions is so important. Methane is a short-lived but very potent climate pollutant — 120 times as potent a greenhouse gas (GHG) as carbon dioxide (CO2) instantaneously and 86 times as potent over a 20-year time horizon. That means that, pound for pound, methane emissions may have an outsized near-term impact in achieving climate goals.
The RBN NATGAS Haynesville is a weekly natural gas fundamentals analysis focused on supply, flow, and LNG-driven demand dynamics within the Haynesville basin.
We’ll start this blog by unpacking the regulatory changes in the U.S. and Canada. After building slowly over the past 15 years, regulatory change has accelerated since 2021, as both governments develop new policies to deliver on their commitments under the Paris Agreement and the Global Methane Pledge. These new and evolving federal regulations add a layer to the existing patchwork of federal and state/provincial rules governing the oil and gas industry. What’s different today, though, is that not only must a producer comply with these environmental regulations, but its environmental credibility may have a direct impact on its access to certain capital markets, customers and investors, raising the stakes beyond a simple regulatory hurdle to clear. Currently, Canadian climate and GHG regulations are tighter than those in the U.S., but recent policy shifts indicate that the U.S. may not be far behind. What's more, forthcoming regulatory changes in both countries either require additional measurement protocols or push operators toward improved measurements of methane emissions.
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About the song
“It Don’t Come Easy” was written by Richard Starkey (Ringo Starr) and released by Ringo Starr as a non-album single in April 1971. Recorded at Trident Studios in London in March 1970, the record was produced by George Harrison. It was Starr’s first worldwide-released single since The Beatles officially broke up in 1970. It went to #4 on the Billboard Hot 100 Singles chart and has been certified Gold by the Recording Industry Association of America. It has remained Starr’s biggest hit as a solo artist. Personnel on the record were: Ringo Starr (lead vocals, drums), George Harrison (guitars), Klaus Voormann (bass), Gary Wright (piano), Ron Cattermole (sax, trumpet), Mal Evans (tambourine), Jim Keltner (maracas), and Pete Ham and Tom Evans (backing vocals).
Ringo Starr (Sir Richard Starkey) is an English drummer, singer, songwriter, musician and actor who achieved worldwide fame as the drummer for The Beatles. He joined The Beatles in 1962, replacing their drummer, Pete Best. As a member of The Beatles, Starr released 13 studio albums, five live albums, 54 compilation albums, 36 EPs, and 63 singles. As a solo artist, he has released 20 studio albums, 11 live albums, six compilation albums, three EPs, and 46 singles. Starr has been inducted into the Rock and Roll Hall of Fame twice — as a Beatle in 1988 and as a solo artist in 2015. He also been cited as the wealthiest drummer in the world, with a net worth of over $350 million. Starr continues to record and tour with his All-Starr Band, which has a revolving crew of superstar musicians. They plan on hitting the road again in June.
