Trump unveils plan to loosen methane rules for oil and gas industry

President Donald Trump announced on October 27th in Lubbock, Texas, that his administration plans to roll back methane emissions rules for oil and gas companies. This move, made during a campaign rally supporting Republican Senate candidate Ken Paxton ahead of the midterm elections, aims to save consumers and energy producers $45 billion, according to Trump's claims. The regulations, established under President Biden, aimed at reducing planet-warming methane from oil and gas drilling will now be "terminated," as per Trump’s statement. The rollback could affect around 7% to 8% of U.S. natural gas production but potentially unlock up to 210 million barrels of oil, equivalent to about 10 days of US petroleum consumption. Environmental advocates argue that the move would increase air pollution and undermine efforts to address climate change, while industry representatives welcomed the changes as a step towards greater regulatory certainty and reduced costs for small producers.