The International Energy Agency (IEA) has said methane emissions from the oil and gas industries could be halved on average, at no cost to the sector, by switching from coal to gas. The announcement coincided with the unveiling of the IEA's methane tracker tool, which offers up-to-date estimates of oil and gas emissions in eight industries across 70 countries. Reinforcing efforts to minimise methane emissions along their supply chains is an essential complement to the reductions in CO2 that are led by increased efficiency and deployment of clean energy technologies. But a new report published today suggests that even if governments were able to cut their own emissions, they would still need to find ways to make up for lost revenue through higher taxes or other measures.
The International Energy Agency (IEA) has said methane emissions from the oil and gas industries could be halved on average, at no cost to the sector, by switching from coal to gas. The announcement coincided with the unveiling of the IEA's methane tracker tool, which offers up-to-date estimates of oil and gas emissions in eight industries across 70 countries. But a new report published today suggests that even if governments were able to cut their own emissions, they would still need to find ways to make up for lost revenue through higher taxes or other measures.