Establishes a new program to reduce methane emissions from oil and gas wells. Provides $1.55 billion in grants, rebates and other incentives to assist companies with monitoring, reporting, and reduction of methane emissions including $700 million dedicated to “marginal conventional wells.” Also establishes a fee on methane emissions above a set threshold. The fee starts at $900/ton in 2023, $1,200/ton in 2024, and $1,500/ton in 2025 and thereafter.