Critics warn of climate danger as president in Texas claims change will save companies and consumers billions

Donald Trump said his administration is “terminating” Biden-era regulations holding oil and gas companies accountable for large leaks of planet-warming methane during a rally in Lubbock, Texas, on Tuesday evening.

“Tonight, I’m officially terminating Biden’s expensive and unnecessary methane regulations to save consumers and energy producers,” Trump said, lifting what he called “crippling regulations on methane that caused prices to skyrocket” for small oil and gas operators. The change would save consumers and energy producers $45bn and unlock 210m barrels of oil, he said, which is equivalent to about 10 days of US petroleum consumption.