In Lubbock, Texas, on Tuesday, President Donald Trump will announce a new proposed rule which could eventually lower gas prices, an Environmental Protection Agency official told the Daily Signal.
Trump is announcing the new EPA proposed rule will revise Biden-era oil and natural gas regulations, which imposed billions of dollars in costs.
The president is holding a rally in Lubbock for Republican Senate candidate Ken Paxton, who is in a tight race with Democrat James Talarico.
If finalized, the Trump administration’s proposal is expected to deliver $45 billion in savings and generate an estimated additional 210 million barrels of U.S. oil production and over 1.4 trillion cubic feet of U.S. natural gas.
Increasing production will lower gas and diesel prices, which will then lower heating costs, which will translate to lower food prices, as well as more energy jobs, the EPA official said.
“This really is going to make a more affordable and prosperous country,” the official told the Daily Signal.
The rule contains five major regulatory changes:
First, the EPA is co-proposing two options to create separate categories and standards for well sites to make sure the regulations are workable for different types of wells.
The EPA is also proposing to rescind the program that certified third-party monitors for “super emitter” leak events and required states to do so as well.
Third, the rule would split the “No Identifiable Emissions” aspect of covers and closed vent systems into design requirements and operational requirements.
The proposal would restore 95% efficient flaring or other control devices as the best system of emission reduction, rather than requiring all associated natural gas coming from oil wells to reach a sales line.
Lastly, the EPA is proposing technical changes to give flexibility for flame monitoring data deviations, control device alerts, and visible emissions test conditions where appropriate.
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[ H/T The Daily Signal ]
