President Trump has proposed a new rule to relax methane emission regulations for the oil and gas industry, announced at a campaign rally in Lubbock, Texas. The rule is expected to save consumers and producers $45 billion and increase oil production. The Environmental Protection Agency will review existing standards, particularly for marginal wells, which contribute significantly to methane emissions. This proposal comes as the administration seeks to address high fuel prices influenced by international conflicts.
Key facts
- Trump announced the proposed rule on October 28, 2026.
- The proposal aims to save $45 billion for consumers and producers.
- Texas is the top oil-producing state in the U.S.
- Marginal wells account for less than 5% of oil supply but nearly 50% of methane emissions.
- Diesel prices are currently averaging $6.35 per gallon nationwide.
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