In past years, New York Energy Week has covered the current and emerging trends affecting the oil and gas industry. In 2014, our NYEW Breakfast Series: Natural Gas Markets focused on what’s happening in our backyard and how the Northeastern United States is playing a central role in this changing environment.
This year, the CME Group Inc. (Chicago Mercantile Exchange & Chicago Board of Trade), the world’s leading and most diverse derivatives marketplace, will again be hosting the NYEW Oil & Gas Breakfast. There will surely be much to discuss with all of the recent disruptions within these industries, and the new methane rules issued by the Environmental Protection Agency are just the latest.
A week ago, the Environmental Protection Agency issued the first-ever federal standards aimed at curbing methane emissions from the oil and gas industry, the second most powerful greenhouse gas that is contributing to climate change, next to carbon dioxide.
The rule will target new or modified oil and gas wells, requiring companies to plug and capture leaks of methane from drilling wells and storage tanks. The EPA estimates that this rule will prevent 11 million metric tons of carbon dioxide equivalent from leaking into the atmosphere by the year 2025. That’s the equivalent of closing 11 coal-burning plants. The agency estimates that the rule will cost companies an estimated $530 million in 2025, with savings amounting to $690 million in reduced waste — a potential net benefit of $160 million.
These regulations are the newest in a series of regulations by the Obama Administration to cut greenhouse gases from fossil fuel emissions, in an effort to curb a changing climate.
While these regulations aim to positively affect the environment, they’ll also have a significant impact on an industry that has recently faced an unprecedented era of uncertainty and decline. To move forward in a productive way that both benefits the environment and industry, stakeholders need to more frequently be in the same room together. New York Energy Week provides policymakers, businesses, investors, and other stakeholders with a unique forum to engage in conversations about how the oil and gas industries can emerge from this period of increased regulation and scrutiny.
So join us on the morning of June 15th for the NYEW Oil & Gas Breakfast for a conversation on how regulators, investors, governments, and other stakeholders are managing these changing trends and adopting their forecasting and technology to account for these variabilities. The event will be moderated by Samira Salman, CEO and Founder of Salman Solutions LLC. Our panelists will include Kathryn O’Connor Gardner, Senior Vice President at AllianceBerstein; Jenny Liu, Director of Generation Resource Management at NYPA; and Christi Tezak, Managing Director at Clear View Energy Partners.
We look forward to seeing you there!
Read more at New York Energy Week
