The existence of a huge cloud of methane over New Mexico is cause for concern on a number of levels. And with that the Obama administration is right to seek new regulations to limit the amount of the gas released into the atmosphere.

Such proposed regulations, the details of which are not yet known, are expected early this year. They will, of course, be opposed by the gas industry but are needed nonetheless. The sheer size of the problem demands them.

The methane plume above northwest New Mexico is said to cover about 2,500 square miles. It was discovered by satellite three years ago by scientists who could not at first believe their own data. But its existence and its size were verified in October by researchers from NASA and the University of Michigan.

That is frightening, first because of implications for the environment, but also for what is suggests about the industry and its reaction to such issues. Methane is a powerful greenhouse gas, 80 times more potent than carbon dioxide. Experts say the United States will never be able to meet its goals for cutting the emissions responsible for climate change if it cannot control methane leaks.

Letting methane escape into the atmosphere is also a waste. The gas is after all an irreplaceable natural resource and a valuable commodity.

Still, the gas industry and its political supporters oppose regulations to limit leaks. Their arguments are familiar, but wrong and fundamentally contradictory. They say that tougher regulations could hurt domestic energy production at a time when falling oil prices are cutting into gas and oil company profits. (Is anyone really worried about diminished profits of some of the largest and wealthiest corporations on the planet?) Beyond that, they argue, the gas companies have every incentive to stop any leaks and keep the gas to sell instead of letting it escape.

Of course, both arguments are countered by the simple existence of the plume. If the gas companies have every incentive to plug the leaks that caused the cloud, why have they not? And given that nationwide, the leaks are estimated to add up to $2 billion, how would recovering gas worth that much constitute throttling energy production?

The gas industry simply hates regulation. It is a subset of the larger gas and oil industry with a history and culture of playing fast and loose. It regularly weathers busts but is structured to maximize the booms.

Besides, even ignoring inflation, a dollar today is worth more than a dollar tomorrow. And a dollar today is worth far more than a dollar somewhere down the road. Acting to limit leaks could in the long run greatly increase gas-company revenue, but the cost of those controls would be incurred up front. With that, the gas companies have little reason to spend much time or money fixing leaks.

The American people, however, do have reason to see the infrastructure and procedures that lead to methane leaks get fixed. Both from an environmental perspective and with an eye toward husbanding natural resources, it is strongly in the national interest to limit – and prevent the unnatural buildup of methane in the atmosphere. And the mechanism by which that can be accomplished will have to include federal regulations.

We look forward to seeing the administration’s ideas.