Posted on 11/22/2021 11:25:11 AM PST by Oldeconomybuyer
WASHINGTON — A Democratic plan to impose a fee on methane emissions from oil and gas wells has cleared a key hurdle, but it faces strong opposition from the oil and gas industry and criticism by centrist Sen. Joe Manchin.
The proposed fee on methane — a powerful pollutant that contributes to global warming — was included in a huge social and environmental policy bill passed by House Democrats last Friday.
Language approved by the House represents a compromise that would slap a rising fee on excess emissions at oil and gas facilities, reaching $1,500 per ton in 2025, along with $775 million in subsidies for companies that take steps to reduce emissions.
The oil and natural gas industry, the nation’s largest industrial source of methane emissions, supports methane regulation but opposes the congressional fee as an unnecessary tax that could drive up energy costs and result in the loss of thousands of jobs.
“This is a tax on American natural gas that makes us less competitive,″ said Frank Macchiarola, senior vice president of the American Petroleum Institute, the industry’s top lobbying group.
“At a time of rising energy costs, it’s a flawed policy to raise costs on energy producers,″ he said, adding that he is hopeful the Senate will eliminate the proposal. Independent analysts say the methane fee would likely cost producers at least $1 billion a year once it is fully implemented.
Environmental groups call methane reduction the fastest and most cost-effective action to slow the rate of global warming.
(Excerpt) Read more at apnews.com ...
The “EMISSIONS ‘ from the politicians never stop & it is full of GAS.
Is Sleepy46 gonna be taxed on his emissions?
Fart police coming soon.
Serious though... this will drive smaller oil companies out of business.
It’s only a matter of time till bovines are taxed...
Do YOU have an unregistered bovine???
If the gopes can’t stop this bill after maximum effort, they had better have a bill ready to go in Jan, 2023 to be voted and presented to the President (where it will be vetoed) and Jan 2025 (where it won’t) nullifying each and every aspect of this bill.
High energy prices are part of the demonRAT plan. They have called for it for years, publicly and loudly.
Hmmm...just who do the Democrats think will end up paying that fee? Clearly, the oil and gas companies will do everything they can to pass that new cost onto the consumer. As usual, the Dems simply end up raising taxes on us consumers.
Binden’s inept management of the economy and the resultant inflation were are all experiencing is just another tax President Dufus foisted on us. Higher prices is little different than higher taxes in terms of your purchasing power.
Keep in mind, folks: The gov’t produces nothing. All it can do is take resources from one (productive?) use and transfer it to some other (usually less productive) use.
The proposed fee on methane — a powerful pollutant that contributes to global warming...”
They said without any evidence or proof.
Laws need to be precise. Democrat idiots are going on about Climate CHANGE. Change isn’t the same as warming. There is no mechanism that exists that can prove in a court of law (we are talking about law here) HOW much methane (or CO2) that is currently in our atmosphere that is a result of human activity.
What we do have is a 60 track record of hysterically bad apocalyptic predictions.
Energy is Wealth the Ruling Class cannot horde!
Make as much energy as cheaply as possible and watch the poor being lifted out of Poverty. Restrict supply and you push the working poor into a dark hole.
its like we are living through an Ayn Rand novel.
The idiot ideologues and wreckers are doing incredibly stupid and destructive things, page after page
Perhaps the ending will be the same - total collapse.
Make it contingent on China following the same laws.
🤡
Biden: If you keep your house warm you ain't black.
Leftist should be forced to live in the world they so desire. In less than a week they will beg to return to a normal world.
Among other objections, the revenue from that tax would wasted.
Let’s see how expensive we can make oil & gas!
PROVE IT.
The largest source of methane on the planet is Joe Biden.
100+ years later this becomes a fact to be taxed/penalized?
They claim cow farts won't be taxed . When the Republicans tried to add an amendment putting that in writing the RATs voted that down. We know the left hates beef consumption so their plan must be to have some leftist group sue. A leftist judge will allow a 'compromise' with some nameless faceless unaccountable bureaucrat to add the cow tax. It's how the left gets a lot of what was not the law into becoming law.
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