Obama tightens oil and gas regulations

NEW YORK (CNNMoney) — The Obama administration tightened regulations on the oil and gas industry Wednesday, requiring drillers to capture emissions of certain air pollutants from new wells.

But in a nod to industry concerns that the rules were being enacted too quickly, the Environmental Protection Agency said companies can burn the pollutants at the well head until the start of 2015, when enough equipment is expected to be available to capture the pollution.

The administration said the regulations are part of President Obama’s promise to develop the nation’s oil and gas resources in a manner that protects the environment and the public health.
“The standards are practice, flexible, affordable and achievable,” Gina McCarthy, an assistant administrator for EPA’s Office of Air and Radiation, said on a conference call with reporters.

Read more here.

President Obama issues executive order forming task force on natural gas

NEW YORK (CNNMoney) — President Obama issued an executive order Friday, establishing a meeting of the minds to work on natural gas policies for his administration.

The executive order creates a new working group made of representatives from at least 13 government agencies, including the Department of Defense, the Department of Energy and the Environmental Protection Agency, among others.

Its main task? Keep the various federal entities all on the same page when it comes to developing new policies and regulations surrounding shale gas.

Read more here.

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