This analysis of more than 300 U.S. oil and gas producers underscores the positive impact that innovative state and federal policies are having on slashing methane—one of the fastest ways to cut carbon pollution and tackle climate risks to the economy and the planet.
Recent action by EPA and Congress, including the recently finalized methane standards and the forthcoming Waste Emission Charge on excess methane emissions, will help drive sector emissions even lower.
Still, the decline in emissions makes clear that the widening gap between the poorest and best performing companies is the result of a choice by lagging companies. A choice that is increasingly under investor, industry, and regulatory scrutiny.
Key findings include:
• Reported methane and greenhouse gas intensity in the oil and gas sector declined by 31% and 17% between 2020 and 2022, reflecting implementation of 2016 federal rules and strong state regulations.
• Total reported methane emissions have declined since 2019, while total reported CO2 emissions have plateaued since 2020 but are higher than 2015 levels.
• Methane emissions intensity of natural gas production and the GHG emissions intensity of oil and gas production vary dramatically across producers.
o For example, natural gas producers in the highest quartile of methane emissions intensity have an average emissions intensity nearly 32 times higher than producers in the lowest quartile.
Ceres and Clean Air Task Force, with analysis from consultant ERM, released the report, which analyzes the production-based emissions of the largest oil and gas producers in the U.S. for 2022 and includes trends for 2015-2022.