[nerdponx]

The fact that the economics of not-venting gas aren't great for operators is precisely an example of externalities and why they can't be handled effectively without financial incentives or equivalent regulation.

Either you buy gas from Permian basin operators at inflated prices to make it worth capturing, or you make the cost of not capturing it high enough that it becomes worthwhile to capture. The latter is a classic Pigouvian tax. The former would be unpalatable to most voters (but a delicious opportunity for the oil and gas companies).