Regressive" Methane Tax Will Raise Average American's Gas Bill By 17%
Biden is pushing for it and you can bet after those devastating storms in the Midwest Friday night that it will all be blamed on climate change, in fact the Media Pundits are already trying to propagandize the tragic event for more global warming incentives to control it.
serf
The House bill results in an "escalating tax on methane emissions by oil and gas producers," a new op-ed in the Wall Street Journal points out. The tax will hit $1,500 per ton by 2025 and the fee is supposed to be a contribution to recent promises made in Glasgow to curb methane emissions.
The cost of the fee will obviously get passed along to the consumer, which will then result in even higher energy prices than consumers are already struggling with. 180 million Americans use natural gas to hear their homes, the report says.
In the meantime, the Energy Information Administration (EIA) has come out and stated that half of U.S. households that heat with natural gas will pay 30% more than winter than they did last year. This methane tax could add another 17% to an average bill, the WSJ editorial board writes.
Comments
Not in favor of more taxes and or increased consumer cost but this appears to be a tax on the inefficiency of the natural gas producers. If they sold all the methane wasted/burned it would add up to billions of dollars per year. But that would require an investment in equipment and the producers have plenty of natural gas so they don't worry too much about it. Seems if they recover the lost product and avoid the methane taxes, costs shouldn't go up as much as forecasted. But since the gas producers probably don't give a damn about you and me they will keep being inefficient and just pass the cost along to us and blame the government. Bob
Not surprising
If it comes out of this particular DEMOCRAT congress, you can bet it stinks.
If they would tax the "Methane" and other forms of flatulence emitted by congress and their sycophants in the media, they could pay most of the nations debt.
American middle class taxpayer is supposed to foot the bill to fix the whole world......total BS...my prepay propane this winter is 1.4% higher than last several years...glad i put in a 95% efficient furnace