FCG - U.S. methane crackdown not likely to include flaring ban - Bloomberg

The Biden administration is expected within days to propose requirements for plugging methane leaks at oil and gas wells, but the crackdown likely will stop short of an outright ban on flaring, Bloomberg reports. The Environmental Protection Agency rules would seek to strengthen existing mandates on newly drilled wells and impose new requirements from hundreds of thousands of older wells that so far have escaped methane regulations., according to the report. The administration reportedly wants to make an announcement before President Biden arrives in Scotland for the COP26 climate summit. ETFs: XLE, XOP, VDE, OIH, FENY, FCG, IXC, XES, IYE, IEO, IEZ, CRAK, FRAK It is not yet clear if a proposed methane fee will be included in the final climate portion of Biden's social spending bill, which is said to be "mostly settled" and cost at least $500B.

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U.S. methane crackdown not likely to include flaring ban - Bloomberg