Posted on 02/24/2022 7:15:26 PM PST by blam
As oil prices continue to rocket, now further helped along by Russia’s invasion of Ukraine, the Biden administration is still fighting tooth and nail to freeze new oil and gas drilling leases – even after a court ruled against the administration for using a metric to estimate “the societal cost of carbon emissions” to justify their move.
Despite the court’s ruling, Biden’s administration has stopped new leases and permits for federal oil and gas drilling, MSN reported this week.
The administration was previously prevented from using the “social cost of carbon” metric in decisions regarding oil and gas thanks to an injunction issued by US District Judge James Cain of the Western District of Louisiana.
But government lawyers quickly appealed the injunction, arguing that it “necessitated a pause on all projects where the government was using a social-cost-of-carbon analysis in its decision-making”. This, in turn, allowed the Biden administration to freeze oil and gas projects.
The metric in question uses economic models to put a value on each ton of carbon dioxide emitted, MSN reported, with the intention of quantifying the economic harm of climate change.
Biden’s lawyers argued: “The consequences of the injunction are dramatic. Pending rulemakings in separate agencies throughout the government — none of which were actually challenged here — will now be delayed. Other agency actions may now be abandoned due to an inability to redo related environmental analyses in time to meet mandatory deadlines.”
Interior Department spokesperson Melissa Schwartz added: “The Interior Department has assessed program components that incorporate the interim guidance on social cost of carbon analysis from the Interagency Working Group, and delays are expected in permitting and leasing for the oil and gas programs.”
Schwartz says the Interior Department “continues to move forward with reforms to address the significant shortcomings in the nation’s onshore and offshore oil and gas programs,” the report noted.
The timing couldn’t be worse for the administration, as this week’s invasion of Ukraine by Russia has pushed brent well above $100/barrel. We noted earlier this week that JP Morgan has suggested oil could average at about $110/barrel for the remainder of the year – but this prediction was also before the current geopolitical conflict in Europe escalated.
Great timing, Joe…
Biden is imposing economic sanctions against America’s economy and citizens.
Further enriching and empowering Putin and Russia.
Defying the courts like criminals do, begging ragheads for help fixing the energy problem he caused and enriching the Russians to go on crusades.
Thanks President Retard 🤪
The social cost of carbon. Such a catchy phrase for the serfs.
Climate Cretins, basically committing treason by depriving the country of vital energy resources.
Resident Biden is exacerbating the energy crisis.
Oil was $48.52/bl 12/31/2020
Russia was barely getting by at those prices. Now Vlad is rolling in the dough, ($1B/day) enough to bankroll a war.
I guess it must be much easier to just attack your own people rather than indulge in all that messy foreign war stuff.
So much for easing American’s pain at the pump.
Carbon dioxide is not a dangerous pollutant.
The social costs are being imposed fighting a phantom problem.
No matter what we do we will not change the climate.
What Joe Houseplant means by that is just buy an EV.
Putin says thank you Joe.
Ping
Disgusting.
Because they run on unicorn farts, instead of carbon.
FJB
This diaper-wrapped moron, or whoever its handlers are, is outright destroying this country while aiding and abetting our enemies. He’s an utter disgrace to the flag pin that he wears. Without question, the worst POTUS in the history of the country. The so-called 81+ million that voted for this fool are as moronic as he is. Enjoy your $10/gal gas and the destruction of your family’s retirement accounts because that’s where it’s going...dumbazzes.
Milliona of the votes bite Me received were pre-printed.
No one actually cast those votes....they were manufactured
in order to steal the election.
More than a catchy phrase. It is a fraudulent fabrication used to derail energy production in America, which has regulatory power based on nothing but malicious leftwing intent.
Climate is the number one enemy of the Brandon Regime. All the speechifying about bringing gas prices down is just pablum for the masses.
The higher it goes, the more it hurts America ;
the more America is hurt, the happier the Brandon minions and climate weenies feel ;
the happier the Brandon minions and climate weenies feel, the more money they make and contribute to the Democrats Planned Destruction of America.
biden loves seeing price of gasoline rise. If it harms Americans, biden is joyous
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