Methane isn't one of those gases we want polluting our air . It traps more heat than carbon dioxide, worsens ground-level ozone, and is associated with increased breathing problems, heart disease, cancer and strokes. When Americans are so unhealthy and we just saw the hottest summer on record, you'd think the government would want less methane in our air, but no. The Associated Press reports that President Donald Trump just announced plans to increase the amount of methane oil and gas drillers are allowed to dump into our atmosphere.
๐ The Core Development
According to AP, getting rid of Biden-era limits on how much methane oil and gas companies could let escape while drilling is an attempt "to encourage more domestic drilling as Trump faces criticism over high fuel prices amid the war in Iran." Considering Republicans' love of pollution and the oil industry's generous donations , it seems more likely this is just a giveaway to Trump's favorite donors, but sure. Maybe it will encourage more domestic drilling, but it doesn't sound like it will do much to lower fuel prices.
The U.S. should limit methane emissions because trashing the air we breathe is bad for everyone, and the idea of summers getting even hotter sounds miserable, but according to the White House, letting oil companies pollute more would save them billions of dollars while unlocking about 210 million barrels of oil. Except, at the current U.S. level of oil consumption, the AP estimates that's only 10 days worth of oil.
๐ Background & Sector Context
So we won't even get two weeks' worth of oil out of the deal, and all we have to do is let oil companies fill our air with even more of a gas we already know is responsible for about a third of all greenhouse gas emissions globally. Hope you don't mind spending $500 a month to keep your A/C running at 78 next summer.
Trump and Republicans are under a lot of pressure for starting a war with Iran that made gas expensive. At the moment, the average gallon of gas in the U.S. costs $4.27, per the U.S. Energy Information Administration , while a gallon of diesel costs $6.35. Those prices aren't as high as in some other countries, but just a year ago, gas was $3.04, and diesel cost $3.72. An extra $1.23 for a gallon of gas and $2.63 more for diesel adds up, and as a country, we really don't like it when fill-ups cost a small fortune.
๐ Industry & Real-World Impact
In fact, back in July, high fuel prices had made Trump's war with Iran so unpopular, most non-MAGA Republicans said they planned to vote for the other party in November. Since July, Trump's popularity has only continued to fall, and the Republican party's approval recently hit a five-year low. Unfortunately for Republicans, there's no quick way out of this war, or a good way to lower gas prices significantly.
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๐ฎ Strategic Outlook & What Lies Ahead
Allowing more methane pollution may temporarily lead to ever-so-slightly lower gas prices, but it's not like emissions were limited because Democrats hate the oil industry. It's because environmental scientists have known for a long time how bad methane is. From the AP:
Cuts in methane emissions have emerged in recent years as a global priority to slow the rate of climate change. Oil and gas operations are the largest industrial source of methane, which is the main component in natural gas and far more potent to the atmosphere than carbon dioxide in the short term. ...
