Modeling using the U.S. Energy Policy Simulator finds The Build Back Better Act’s fee on methane emissions from petroleum and natural gas systems is an important component of the overall legislation, responsible for 60 percent of the Act’s reduction of industrial greenhouse gas emissions from 2023 to 2050. By 2050, it will avoid 168 million metric tons of carbon dioxide equivalent annually, equal to the annual emissions from more than 36 million gasoline-powered passenger vehicles. The methane fee would also boost the economy, creating more than 70,000 jobs by 2050 and increasing gross domestic product by more than $250 billion from 2023 to 2050.
Benefits Of The Build Back Better Act’s Methane Fee
Energy Policy Simulator modeling finds the Build Back Better Act’s fee on methane emissions is responsible for 60 percent of the Act’s reduction of industrial greenhouse gas emissions from 2023 to 2050 and would boost the economy, creating more than 70,000 jobs by 2050 and increasing gross domestic product by more than $250 billion from 2023 to 2050.
