Biden-Harris Admin Set To Slap Tax On Methane Emissions

[rangerrebew]

Biden-Harris Admin Set To Slap Tax On Methane Emissions
Story by DCNF-Newswire • 16h

 
The Biden-Harris administration is set to finalize a tax on methane emissions from U.S. oil and gas producers Tuesday.

President Joe Biden’s 2022 Inflation Reduction Act (IRA) mandated a fee on methane emissions, but left many of the details to be decided by the Environmental Protect Agency (EPA), according to Bloomberg.
 
Now, U.S. energy officials are expected to roll out a finalized version of the policy, which reportedly includes a penalty of $900 per metric ton of methane emissions above a government-mandated threshold.
 

The fee will rise to $1,500 per metric ton of “excess” methane in 2026, and is meant to signal the U.S.’ dedication to combating climate change, according to Bloomberg. The regulation will reportedly be announced at the UN-backed COP29 climate summit in Azerbaijan.

https://www.msn.com/en-us/news/world/biden-harris-admin-set-to-slap-tax-on-methane-emissions/ar-AA1tTLH6?ocid=msedgntp&pc=HCTS&cvid=b8b54da8aa77408fbbf36ab0674b7fdc&ei=153

[rangerrebew]

I thought lame duck presidents kind of backed out of major law making.  But then I guess Biden has always been a lame duck so there really is no change.

[catfish1957]

Guessing symbolic to appease the Envirowhacko base.  What can be legislated, hence promulgated, can and will be reversed pronto, and likely before the systems are in place to collect this regressive socialist tax. 

[DefiantMassRINO]

From now until January 20th, it's the Biden-Harris last stand ... a progressive Alamo.

This methane tax is inflationary.

Trump's EPA will need to set this to $0.00 on Day 1.

[IsailedawayfromFR]

Didn't we start a war with the British over something similar?

[Smokin Joe]

From now until January 20th, it's the Biden-Harris last stand ... a progressive Alamo.

This methane tax is inflationary.

Trump's EPA will need to set this to $0.00 on Day 1.

Yep. The indirect effect is to reduce oil production. Virtually all oil production is accompanied by natural gas, dissolved in the oil. The efficacy of separation methods is temperature dependent, which means some methane will be vented from production equipment. Not all will be captured, nor diverted to the site's flare. The only way to reduce those emissions is to reduce production, in the short term. That means increasing oil prices, as supply/demand ratios are messed up. This hurts royalty interest owners, too, who get paid after taxes and expenses.

[IsailedawayfromFR]

If they dry up the swamps they'll likely decrease methane even more than this insane tax

[Smokin Joe]

If they dry up the swamps they'll likely decrease methane even more than this insane tax

Yep. We're lucky they aren't running around giving cattle the 'probe'.