The Biden administration announced plans that would lower methane emissions from domestic oil and gas drilling by 87% below 2005 levels. The new regulations were unveiled as President Biden attended the COP27 climate summit here in Sharm el-Sheikh, Egypt, Friday.
President Joe Biden: “We immediately rejoined the Paris Agreement. We convened major climate summits and reestablished — I apologize we ever pulled out of the agreement.”
The United States is currently the second-largest emitter of greenhouse gases after China and by far the largest historic polluter, accounting for about 20% of global carbon dioxide emissions. During his remarks, Biden did not mention the issue of “loss and damage.” Climate activists are pushing the U.S. to compensate poorer countries over the irreversible impacts of global heating.