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John Kerry will step down as President Biden’s special envoy for climate this spring after three years on the job, according to multiple reports.
The 80-year-old former U.S. secretary of state, senator from Massachusetts and Democratic presidential nominee reportedly plans to help the Biden reelection campaign.
The decision comes a month after Kerry played a vital role in negotiating an international agreement announced in Dubai for countries around the world to transition away from fossil fuels.
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Separately, the Biden administration released Friday its proposal for determining how oil and gas companies will be fined for methane emissions.
The fees, starting at $900/metric ton in 2024 and rising to as much as $1,500/ton by 2026, were authorized by Congress as part of the 2022 Inflation Reduction Act, which left it to the Environmental Protection Agency to establish the mechanism for imposing the penalties.
The fees will apply to large oil and gas facilities that report methane emissions of more than 25K metric tons/year of carbon dioxide equivalent.
Image and article originally from seekingalpha.com. Read the original article here.