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After three years in the pivotal role of President Biden’s special envoy for climate, John Kerry is set to step down this spring, according to numerous reports.
Reports suggest that the 80-year-old former U.S. secretary of state, senator from Massachusetts, and Democratic presidential nominee intends to pivot his focus to support the Biden reelection campaign.
The decision arrives on the heels of Kerry’s instrumental involvement in brokering an international agreement in Dubai. The agreement is set to facilitate the transition of countries worldwide from reliance on fossil fuels.
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In a separate development, the Biden administration has unveiled its proposal for the determination of fines on oil and gas companies for methane emissions.
These penalties, set to commence at $900 per metric ton in 2024 and projected to soar to as much as $1,500 per ton by 2026, were sanctioned by Congress as part of the 2022 Inflation Reduction Act. The responsibility for establishing the framework to levy these penalties was entrusted to the Environmental Protection Agency.
The prescribed fines are earmarked for application on major oil and gas facilities disclosing methane emissions exceeding 25,000 metric tons per year of carbon dioxide equivalent.
