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On August 29, 2019, the Environmental Protection Agency released a proposal to amend the 2012 and 2016 new source performance standards (NSPS) for the oil and natural gas source category. In the proposed rule, EPA proposes to rescind methane emission standards for new sources in the oil and natural gas source category but retain VOC standards for the same sources. Additionally, EPA proposed to remove the transmission and storage segment from the oil and natural gas source category. This MJB&A Summary reviews the main components of EPA's proposal and highlights key takeaways, including the implications for regulating existing sources.