FILE PHOTO: A flare burns excess natural gas in the Permian Basin in Loving County, Texas, U.S. November 23, 2019. REUTERS/Angus Mordant/File Photo
The practice of burning off unwanted natural gas produced alongside more profitable oil has become a top issue for both environmentalists and investors, who are focused on sustainability measures and are already frustrated by a decade of poor financial returns in oil and gas. Flaring has surged with U.S. oil output, but can worsen climate change by releasing carbon dioxide.
Commission Chairman Wayne Christian directed agency staff to figure out which of the recommendations from the Texas Methane & Flaring Coalition, a group of producers and industry organizations, could be implemented by the fall.
I’ve never heard of this practice. Very insightful article but I’m still confused on the practice as a whole. Are companies simply burning off (wasting) extra product? If so, why? And if they are flaring the gas as a safety concern, what are these concerns?
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