The President of the United States, Donald Trump, has confirmed this Tuesday the official revocation of the regulations on methane emissions approved under the mandate of Joe Biden. With this regulatory shift, he aims to reduce costs for companies in the sector, facilitate access to natural gas reserves, and contain citizen discontent over the rising energy prices in the final stretch towards the midterm elections next Tuesday.
"I announce another historic action to reduce energy costs and unleash Texas energy," Trump proclaimed during a campaign event in the city of Lubbock, Texas. From the stage, he attacked the Democratic management and accused the previous Administration of "crushing small oil and gas operators with paralyzing regulations on methane that drove prices up."
"Today I officially end Biden's costly and unnecessary methane regulations to save consumers and energy producers $45 billion (€40.463 billion) in costs," stated the occupant of the White House. Trump's team’s decision includes easing controls on methane leaks in oil wells, pipelines, and treatment facilities, as well as eliminating the federal program created to contain large gas emissions.
According to estimates presented by the president himself, the initiative — which still needs to be completed through the formal proposal process — will allow for the exploitation of significant volumes of natural gas in Texas and will result in the extraction of about 210 million additional barrels of crude oil.
This relaxation of environmental requirements comes amid the campaign for the midterm elections, in a scenario where the rise in fuel prices — partly fueled by the ongoing conflict with Iran — pressures household budgets. During his tour of Texas, which also included a stop in Corpus Christi to follow the unloading of an oil shipment from Venezuela, Trump has presented this package of economic and energy measures as the essential tool to relieve consumers and secure the Republican majority in the Senate.