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The consensus was nearly unanimous at Thursday’s House Science Committeee Environment Subcommittee hearing – appropriately titled “A Solution in Search of a Problem” – that the Environmental Protection Agency’s (EPA) methane regulations would place enormous costs on oil and gas producers while providing little environmental benefits. As the witnesses noted many times, methane emissions are already plummeting as natural gas production soars and new rules would hit producers at a time when they are already grappling with a difficult price environment.

Just to provide a couple highlights from the hearing, Dr. Bernard Weinstein, Professor and Associate Director at Maguire Energy Institute and Cox School of Business at Southern Methodist University, noted:

“Even if we did shut in all of our oil and gas wells, it would have little effect on the environment, especially if other countries continue doing what they’re doing. … I think we need a dose of realism.”

Weinstein noted that natural gas production has increased 70 percent since 1990 and during that same time frame, methane emissions have significantly decreased. As he said, “When you consider the economy is 75 percent larger… that’s remarkable.”

Erik Milato, American Petroleum Institute (API) Director of Upstream and Industry Operations, also made this point, and went on to highlight natural gas’ role in bringing down greenhouse gas emissions:

“Thanks to industry efforts over the past several decades, the United States is leading the world in reducing emissions – down to near 20-year lows – all while energy production has been going up significantly. Despite our industry’s success in reducing methane emissions, the EPA and several other agencies continue to seek duplicative regulations that will impose significant costs without corresponding environmental or consumer benefits. We have proven we can protect the environment, grow our economy, and simultaneously save the average American family an average $1,337 in energy costs per year.”

Milito also explained that “1 billion bcf of natural gas production equates to 32,000 jobs,” highlighting how the shale boom has helped...