Trump to Roll Back Methane Regulations Despite Investor and Industry Opposition
Q2 2020 hedge fund letters, conferences and more
BERKELEY, CALIFORNIA—AUG. 12, 2020—The Trump administration is expected to announce this week a rule to eliminate the regulation of methane from oil and gas production, allowing rampant increases in this climate-forcing greenhouse gas. The announcement comes after years of opposition to the rollback from both investors and industry.
Commentary On Trump's Plan To Eliminate Methane Regulations
Danielle Fugere, president of As You Sow, made the following statement:
“Given the precarious state of America’s oil and gas industry, allowing increased greenhouse gas emissions from the sector will only create greater uncertainty, risk, and lack of competitiveness. The announced rule sets U.S. companies up to lag further behind European peers that are acting proactively on climate and creates more room for alternative technologies to gain market share in a carbon constrained energy market.”
Lila Holzman, energy program manager of As You Sow, made the following statement:
“This rollback signifies yet another nail in the coffin for natural gas’ claimed role in a clean energy future. Recent reports have shown that methane emissions are worse than previously considered; this announced rule only adds impetus for an accelerated transition away from fossil gas.”
Since 2017, As You Sow has filed more than 10 shareholder resolutions regarding methane emissions: Exxon, Chevron, WGL, Southern Company, Sempra, Dominion, DTE Energy, Exelon, UGI, Atmos, and Spire.
What do you think about the methane regulations rollback proposals? Tell us by sounding off in the comments section!
For more information on As You Sow’s work on methane, click here.
As You Sow is a nonprofit organization that promotes environmental and social corporate responsibility through shareholder advocacy, coalition building and innovative legal strategies. Click here to see As You Sow’s shareholder resolution tracker.
