Oil and natural gas companies for the first time will have to pay a federal fee if they emit dangerous methane above certain levels under a rule being made final by the Biden administration.

The Environmental Protection Agency has finalized a major climate rule tackling methane emissions through a controversial fee on oil and gas companies. The final rule was announced on Tuesday amid the United Nations’s annual Climate Change Conference in Baku,

EPA just finalized new fees under the 2022 climate law on oil and gas industry emissions of methane, a powerful planet-warming gas. Why it matters: Completing rules before President Biden leaves makes it tougher — though hardly impossible!