The Obama administration today officially unveiled a new initiative to cut methane emissions in the energy industry, including plans for the EPA to regulate future oil and gas wells.

The plan, the details of which were leaked out on Tuesday, falls well short of the cuts that activists say are needed to reach the administration's international climate change pledges. But the rules, which are expected to be finalized in 2016, will leave the door open to further regulation of the powerful greenhouse gas.

The plans, the latest executive action in President Barack Obama's effort to combat climate change, are an offshoot of last year's methane emission strategy that is designed to tackle the gas that is 25 times more potent than carbon dioxide in causing climate change.

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