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How CBO Analyzes the Effects of Charging the Oil and Gas Industry for Methane Emissions

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  • Congressional Budget Office

Abstract

Methane is a greenhouse gas, which traps heat in the atmosphere. It has a stronger warming effect than carbon dioxide but remains in the atmosphere for a shorter period. This report outlines CBO's approach to analyzing the nonbudgetary effects of charging the oil and gas industry for methane emissions. It generally describes how imposing such a charge affects emissions, companies’ costs, and natural gas prices. (The 2022 reconciliation act, signed into law on August 16, 2022, imposes such a charge.)

Suggested Citation

  • Congressional Budget Office, 2022. "How CBO Analyzes the Effects of Charging the Oil and Gas Industry for Methane Emissions," Reports 58166, Congressional Budget Office.
    • Handle: RePEc:cbo:report:58166
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    File URL: https://www.cbo.gov/system/files/2022-08/58166-methane-emissions.pdf
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    More about this item

    JEL classification:

    • H00 - Public Economics - - General - - - General
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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