On August 16, 2022, President Biden signed H.R. 5376, a budget reconciliation measure also referred to as the Inflation Reduction Act (IRA). With IRA, the United States aims to reduce GHG emissions between 31% to 44% by 2030 compared to 2005 levels through tax incentives and funding mechanisms. A first-ever federal charge is imposed on the excess methane emissions on designated natural gas and petroleum facilities beginning on January 1, 2024.IRA allocated $369 billion to energy and climate change initiatives; a $1.55 billion budget is going to the Environmental Protection Agency (EPA) to provide incentives, grants, loans, and rebates for facilities, well operators, and communities to e...