Statement from LBP Executive Director Jan Moller
The Louisiand Department of Natural resources announced a set of proposed rules on Tuesday to address wasteful routine venting and flaring of natural gas, primarily methane. Oil and gas companies in Louisiana wasted more than $82 million worth of gas in 2019 – enough to meet more than two-thirds of residential natural gas demand in the state for a year. The waste occurs when gas is either flared, vented or leaked from oil and gas infrastructure and translated into nearly $2.5 million in lost tax and royalty revenue.
“The Louisiana Budget Project commends Gov. Edwards and his administration for their statewide rulemaking process aimed at decreasing energy waste, while also safeguarding Louisiana’s public health and climate security. Taking measures to address methane waste will not only lead to increased revenue for the state but also contribute to reducing climate pollution and ensuring a responsible and competitive energy sector.”