This won’t cause pain for the middle and lower classes in the least, right?
Biden Administration Halts New Drilling in Legal Fight Over Climate Costs
The Biden administration is indefinitely freezing decisions about new federal oil and gas drilling as part of a legal brawl with Republican-led states that could significantly impact President Biden’s plans to tackle climate change.
The move, which came Saturday, was a response to a recent federal ruling that blocked the way the Biden administration was calculating the real cost of climate change, a figure that guides a range of government decisions, from pollution regulation to whether to permit new oil, gas or coal extraction on public lands and in federal waters.
Under President Barack Obama, the government estimated that the damage from wildfires, floods and rising sea levels was $51 for every ton of carbon dioxide generated by burning fossil fuels. President Donald J. Trump lowered that number considerably, setting it at $7 or less per ton. Upon taking office, Mr. Biden revived the $51 level and set about updating it further — work that is underway.
Known as the “social cost of carbon,” the metric is designed to underline the potential economic threats from greenhouse gas emissions so they can be compared to the economic benefits from acts like oil drilling. Economists and climate scientists say it is needed because climate-fueled heat waves, storms, wildfires and flooding already cost the United States billions of dollars annually but those costs are often not taken into account by policymakers. Factoring in those costs could make it harder for fossil fuel projects to win federal approval.
So, because Biden is having a hissy fit over what Trump did and the lawsuits from 10 Republican states which Biden lost, he’s going to screw the non-rich folks, driving up their cost of gasoline and natural gas, which will then further drive up the cost of everything.
Here comes $7 gas prices, warns oil strategist in dire outlook
Drivers best start bracing for another surge in gas prices amid the conflict between Russia and Ukraine and years of under-investment by the oil industry, warns one veteran energy strategist.
“My guess is that you are going to see $5 a gallon at any triple-digit [oil prices] … as soon as you get to $100. And you might get to $6.50 or $7. Forget about $150 a gallon, I don’t know where we will be bv then,” Energy Word founder Dan Dicker said on Yahoo Finance Live. (snip)
Gas prices are coming off their seventh straight weekly advance, according to data from GasBuddy. The national average is up 16.5 cents a gallon from a month ago and 97.2 cents a gallon from one year ago.
The average price nationally for gas currently stands at $3.47.
“Years of under-investment”? Things were going swimmingly during the Trump years. Biden comes in and messes everything up. Does anyone think he actually cares about the people who will be hurt the most? His admin will probably push EVs again, even though most in the middle and lower classes can’t afford one.
https://twitter.com/davidthomas38/status/1495418102263300098
It makes perfect sense . . . if you are a warmunist and a liberal, which means you don’t have much sense at all. increase the price of oil and natural gas, hoping that it will persuade more people to support the elimination of fossil fuels, all the while sending more of their hard-earned dollars to Saudi Arabia. Make people still driving fossil fueled automobiles poorer, so that they’ll be more ready to buy Chevy Dolts!
It could be a coincidence, but if one refuses to recognize global warming, feel trump won the election and is a nuCon, one doesn’t have much sense at all.
I do! He works in oil. He is a toolpusher. Tried to get me ta work wid him long time ago. I chose a safer job in a warehouse driving a lift making about 35k a year while he brings home about 200k per year.
Sos keep dat in mind when I post this tidbit of information.
He says only about 10 percent of Fracking comes on federal land. Most frackers want nothing to do with the gubment cause they do this kind of crap non stop. Yeah youse can. No youse cant. Yeah youse can, no youse cant. Just pends on who cheats the most in the presidential election.
So this freezing is nuttin more den Biden suking dik for votes from his peoples so they dont cuse him of being a ukrane agent and impeach his alshammers ass.
You do realize that regardless of how much domestic production increases or declines we in the USA must pay the world market price for our fossil fuels? The actual cost of extracting and refining gas and oil is NOT what determines the price. The price is determined by the global price, not production costs. The oil companies are taking in record high prices. Teach is continuing to support Rusia Iran Iraq Venezuala Nigeria by trying to throttle back renewables. How much longer will the world want to be at the mercy of those countries? And who wants a pipelineime Keydtone thst is designed for the purpose of sending North American oil onto the world market? Right now Midwestern refiners buy that Canadian oil at a discount because we are their only customers. Thst reduces prices for American consumers because it can’t enter into the world market. Nuclear? Nuclear? Capitalists will not finance a new nuke. Should BIG GOVERNMENT build it ?
The Hirsute One wrote:
That’s true enough, but if we pay it to other Americans, the money moves through our economy, expanding it. If we pay it to the Arabs, it leaves our economy, to further enrich Saudi princes and Middle Eastern sheikhs.
But are we paying it to “other Americans” oil companies are not “American.” They are Trans nstionsl/global. There are only about 140000 Americans working in the oil and natural gas extraction work. That is 1/10 the number of American McDonald’s workers. Oil and gas companies enrich owners not a lot of workers.
Hairy: “Oil and gas companies enrich owners not a lot of workers.”
Again Hairy, your business ignorance is illuminating. Oil and gas companies are owned by shareholders. You know, people like you and me who own stocks or mutual funds containing energy shares. Average people, saving for their kids college, their daughters wedding or their retirement. And those shareholders include the workers themselves who invest in their own companies and who get retirement benefits from those companies. They also make 10-20 times what a McDonalds worker makes and pay significantly more in taxes.
Like all communists you’re a real class-warrior as long as it’s other peoples jobs you destroy, other peoples small businesses you drive out of business and other peoples retirement you ruin. You’re a real concerned citizen you are.
Oh, and when you only count the actual people employed by an industry you also show your ignorance of interlocking effects. There are thousands of people not in the oil and gas business who depend on the oil and gas business to survive. And all of these people have families ,husbands or wives and children who also depend on that income you heartless fool.
You communist atheists are always throwing out Bible verses at us here’s one for you:
Ecclesiasticus 34:22 reads, “He who takes away his neighbor’s living slays him; and he who defrauds the laborer of his hire is a bloodshedder.”
Hairy The Bloodshedder.
Yep, we’ve been outsourcing jobs for decades. Most of our pornography is now made in Eastern Europe!
Because of his background as a day-trader type ‘businessman’, trump is only interested in the quick buck. A dollar in the hand is worth two in the bush. So of course he would want to use all the US resources as soon as possible, reserving nothing for the future.
This is the nuWay of the nuConservative. “I want it all and I want it now!” “The future is for losers!”
Hunter “Quick Buck” Biden made sure the Big Man always got his 10 percent.
#LetsGoBrandon
#FuckJoeBiden
Bwaha! Lolgf
dOwd, are you actually saying that long term investments like building skyscrapers, casinos and resorts are akin to day-trading stocks? CarolAnn is right, you really don’t know anything about economics and you just proved you know nothing about trading stocks or business.
You are trapped in a left wing radical bubble relentlessly trying to recapture the failed policies of yesteryear. You hate for just one man who never did anything to you is psychotic. You are a nut case.
Let’s go dOwd, see if you can bitch about Trump till he’s re elected. That’ll be a hoot!
trUmp would be the first dictator to rule from a federal penitentiary!
That’ll be a hoot!
Did BrandO ever clear up his lie about vaccine manufacturers?
https://www.dailywire.com/news/f-joe-biden-nascar-fans-tell-reporter-what-they-signed-on-finish-line-at-daytona-500
#LetsGoBrandon
#FuckJoeBiden
Bwaha! Lolgf
I don’t believe in disrespecting the lawfully elected president drowningpuppies so y’all can have at that thing in the White House. Screw that senile corksuker and the whore he rode in with.
CarolAnn,
President Biden is the lawfully elected president, hence the title. Anyone who claims otherwise is either mentally disturbed, a traitor, a whore, or all three.
It’s clear that trUmp is a whore – look at his past – as is his wife. trUmp has at least 5 kids by at least 5 different baby mamas. trUmp was banging a porn actor while his then wife was recovering from birthing trUmp’s youngest boy. Then he paid the porn actor to keep quiet about the tryst. trUmp’s attorney went to jail for facilitating the bribe! ‘Whore’ is the nicest thing one can say about The Don. BTW, Melania used to show her “wares” for money!!
Another commenter used to call VP Harris a whore and got upset when we suggested he associated with whores.
BTW, CarolAnn, can you define ‘whore’ for us? LOL. Do you call Vice-President Harris a ‘whore’ for having an affair with a Black man?
Believe the proper term would be “cocksucker” but you already knew that.
#LetsGoBrandon
#FuckJoeBiden
Bwaha! Lolgfy
Shitlips calls VP Harris a cocksucker.
Of course, Shitlips sucks canine cock.
I suspect Melania Trump, Ivanka Trump, Lauren Boebert, Marjorie Greene, Justice Barret, Nikki Haley, Senator Graham, Judge Jeanine, Laura Ingraham have all sucked some cock. And not always their husband’s!
#LetsGoBrandO
#FuckDonald.J.Teach
Bwaha! Lolgfy
Hey CarolAnn,
Do you consider calling VP Harris a whore to be sexism, racism or both?
Do you think Shitlips calling VP Harris a cocksucker is disrespecting women?
Hold it! Are you saying that literate, sophisticated NASCAR fans say Fuck Joe Biden on TV? What’s next – literate, sophisticated fans of nuCuntry music are gonna start saying Fuck Joe Biden?
And here we were always mocking trUmp supporters for being uncouth. Our apologies. They are plastered with couth.
Oil companies already have thousands of leases that they are not using. The time between issuing a lease, getting permits doing extraordinary drilling doing production drilling hooking to existing pipelines and refining generally runs about 5 years. Want lower prices? Prohibit exporting our oil to higher bidders. Oil companies are reaping windfall profits, when does inflation end and price gouging begin?
All so Brandon can make us switch to “cheap” unreliable energy.. https://www.powerlineblog.com/archives/2022/02/latest-from-the-dreamworld-of-green-energy.php