Sabrina Valle of Reuters reports that Exxon will stop routine gas flaring in the Permian Basin.
- Flaring is the burning of natural gas during oil and gas production and emits methane, a greenhouse gas that can be 80 times more potent than CO2.
- The amount of gas that is flared globally every year is almost equivalent to all the natural gas Europe was importing annually from Russia before the war in Ukraine, according to the International Energy Agency.
- In addition to cutting flaring, Exxon is allocating $17 billion through 2027 to cut its greenhouse gas emissions worldwide.
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