Texas Oil and Gas Association said last week that in addition to producing a record amount of state and local taxes and state royalties in fiscal year 2024, the U.S. leads the world in emissions reductions. With Texas out front, emissions dropped between 2015 and 2022 by 42 percent in key production regions. S&P Global Commodity Insights said methane emissions from oil and natural gas production operations in Permian Basin in 2023 decreased 26 percent from the previous year.
And in Texas, the flaring rate dropped by 60 percent since June 2019 with a flaring rate of 0.94 percent in August 2024 – which means that more than 99 percent of natural gas produced in Texas was being beneficially used. Operators are aiming to eliminate routine flaring by 2030.
Todd Staples, president of TxOGA, said Jan. 7, “No one produces, transports and refines oil and natural gas with the same commitment to safety and protecting the environment as American operators. Industry-led initiatives like the Texas Methane and Flaring Coalition and the Environmental Partnership are dramatically reducing flaring and emissions and achieving environmental gains unseen anywhere else in the world.”