International Energy Agency reports nearly all the industry’s methane emissions could be avoided at no net cost
Plugging methane from leaky oil and gas facilities would be free of cost almost everywhere in the world, and in many cases would produce a significant profit, at today’s soaring gas prices, the International Energy Agency has found, suggesting that governments have few excuses for not taking action to curb emissions of the powerful greenhouse gas.
Governments have been underreporting their emissions of methane to a dramatic extent, and those emissions are still rising fast, according to the Global Methane Tracker report from the IEA published on Wednesday. Using satellites and other new data, the energy watchdog found emissions were about 70% higher than national governments had suggested, showing the need for far greater monitoring, as well as efforts to staunch leaks.