Biden’s Methane Gas Tax will Raise the Average American’s Heating Bill by 16%
by Will
Would you rather pay lower prices than higher prices to heat your home this winter? Well, too bad. Brandon is worried about the climate, what with all those tornadoes and such, so he’s pushing a new tax that’ll raise your heating bill by 16% this winter alone.
Background on the new tax and the cost imposed by it comes from the Wall Street Journal, which reported that the House of Representatives just passed a stealth tax on natural gas. According to the WSJ:
he bill slaps an escalating tax on methane emissions by oil and gas producers that will reach $1,500 per ton by 2025. The fee is meant to be President Biden’s contribution to the recent Glasgow vow to reduce global methane emissions 30% by 2030. The tax is estimated to raise $8 billion over 10 years.
Producers will naturally pass the cost of the tax along to customers…
Even without this new tax, the Energy Information Administration (EIA) is warning that about half of U.S. households that primarily heat with natural gas will pay 30% more this winter than they did a year ago—50% more if this winter is cold. The American Gas Association estimates the methane tax could add another 17% to an average customer’s bill.
The White House painted a much rosier view than the WSJ, saying:
Methane emissions are a major contributor to climate change, which is why President Biden is taking critical, commonsense steps at home to reduce methane across the economy – all while rallying the rest of the world to take similar bold actions.
more
https://trendingpolitics.com/bidens-methane-gas-tax-will-raise-the-average-americans-heating-bill-by-16/
