Near the end of the month of July, the EPA proposed new Clean Air Act regulations on the exploration and production of natural gas, aimed at reducing air emissions. The rules will reduce Volatile Organic Compound (VOC) emissions from fracked wells by 95%. For the gas industry as a whole, VOC emissions will be reduced by 25%, air toxics by 30%, and methane by 30%.
But here’s the part that everyone really likes to hear: it’s profitable. By capturing gas and selling it (instead of flaring or venting it into the atmosphere), the EPA estimates gas companies will make a net $29 million by 2015.
The rule is currently open for public comment for the next 60 days. The EPA hopes to finalize the rule by February 2012.
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