The United States is set to impose sweeping limits on methane emissions from oil and gas operations as the Biden administration ups its commitment to tackle global warming.

President Biden

Once enacted, the rule’s impact on natural gas and oil prices from 2023-2035 would cost “pennies per bbl of oil or Mcf of gas,” the Environmental Protection Agency (EPA) said Tuesday.

The sweeping proposal would cut methane from existing sources nationwide through a proposed Clean Air Act rule. 

The news comes as President Biden met with other world leaders to discuss climate change at the United Nations’ (UN) 26th Conference of the Parties, aka COP26, in Glasgow, Scotland.

“As global leaders convene at this pivotal moment in Glasgow for COP26, it is now abundantly clear that America is back and...