Biden Drops New Methane Emissions Tax Before Leaving White House

With time running out, Joe Biden is trying to implement all his “green” plans while he still has the opportunity.

To that point, the Environmental Protection Agency (EPA) just introduced a new rule taxing methane emissions from the oil and gas sector.

My guess is that this will be immediately challenged, not to mention the fact that it is likely to be repealed when Trump takes office.

Won’t Last Long

We have been through this before where agencies are creating laws when they do not have the right.

I could be wrong, but a tax such as this should have to pass through Congress, not just go into effect through an agency.

Other agencies have tried similar actions, and they were always challenged, and they usually lost.

The new rule will create a fine of $900 per metric ton of methane emitted over specified parameters. Each year, that fine will grow, by $300 in 2025, and by another $300 in 2026, and it will continue to rise in subsequent years.

EPA Administrator Michael Regan stated, "The final Waste Emissions Charge is the latest in a series of actions under President Biden’s methane strategy to improve efficiency in the oil and gas sector, support American jobs, protect clean air, and reinforce U.S. leadership on the global stage.”

Rep. Greg Murphy (R-N.C.) panned the new rule, saying that will only serve to halt investments in this energy sector.

He then added, "Thankfully, this insanity will end in January.”

Former Rep. Lee Zeldin (R-N.Y.) has already been tagged as Trump as the next head of the EPA, so don’t expect this rule to stay in place very long.

Trump has been adamant that as soon as he gets back into office, the gloves are coming off and his quest will be to make America energy independent again.