FINANCIAL TIMES 🔒| Morgan Bazilian, Jamie Webster and Jordy Lee 15 HOURS AGO 3 Print this page Global gas flaring hit its highest level in a decade last year, according to a recent World Bank-led report. With a large part of the increase coming from the shale oilfields of the US, it would be easy to despair, when even developed economies seem unable to get a grip on the wasteful and polluting practice.
But more recent data suggest there may instead be some cause for optimism. In the past 12 months, gas flaring in the US has actually declined by 70 per cent, according to numbers provided by the Earth Observation Group at the Payne Institute for Public Policy,
This decline was not driven by policy, Covid-19, or suddenly improved operations, but rather as the result of investors demanding greater capital discipline from a sector that had earned a reputation for prioritising growth over all other concerns.
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