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Biden’s New “Regressive” Methane Tax Will Raise Average American’s Gas Bill By 17%

By Tyler Durden | Zero Hedge | December 12, 2021

At a time when the Biden administration is panicking in an attempt to keep energy prices down, the House has slapped a “fee” on methane that is being called a “stealth tax” on natural gas and everyone who uses it.

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.

The WSJ op-ed board calls it a “regressive tax” and says that “Department of Energy notes the average energy burden for low-income families is three times higher than for more affluent households”.

The methane tax “exposes the contradiction at the heart of Democratic climate policy” and clearly violates President Biden’s promise not to raise taxes on those making less than $400,000 per year, the op-ed argues.

The op-ed concludes by arguing that once the methane tax is in place, it’ll be easy to raise over time. Combined with new methane regulations, it’ll continue to raise costs and introduce inefficiencies for producers.

The methane tax is “targeted, punitive and can be linked to higher consumer energy bills,” the op-ed concludes.

December 12, 2021 - Posted by | Economics, Malthusian Ideology, Phony Scarcity, Progressive Hypocrite |

1 Comment »

  1. It’s kinda’ weird how Taxes can SO EASILY be applied to “Consoomers”, while MASSIVE TAX EVASION(via multiple TAX HAVENS around the World), by America’s “1%”, is ignored.

    It’s no wonder that “The Big End of Town” has an Ocean of tax avoided money available to themselves, so they can BRIBE America’s corrupted politicians, as well as giving multi Billions of dollars to Israel, EVERY YEAR……..
    And, the beauty of it is, the American people haven’t noticed it, at all……EVEN THOUGHT the National Debt is now totally ignored, but totally out of control.

    The USA is being BLED DRY…….and nobody has even noticed than something is terribly wrong……???

    Liked by 1 person

    Comment by brianharryaustralia | December 12, 2021 | Reply


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