The recent increase in gas prices is not a fluke. It is the outcome of the White House policy, limiting output in the name of climate change through a cascade of environmental regulations. According to the Energy Information Administration, gas prices are currently higher than at any point during President Donald Trump’s presidency.
The Biden Justice Department discreetly requested a stay of a ruling on “social cost of carbon” guidelines. Estimates used to evaluate possible cost/benefit evaluations of environmental laws were reduced from $51 per ton of carbon dioxide in the Obama Administration to $7 in the Trump Administration. Earlier this month, Judge James D. Cain Jr. revealed that Biden used the administrative state to “artificially inflate the expense estimates” of oil and gas extraction.
Moreover, the Justice Department has filed an appeal against the Biden Administration’s social cost of carbon rule for oil and gas projects. The appeal will increase the cost by utilizing a more significant number, resulting in greater restrictions on government leasing. The Interior Department has been proactive in reforming the program at the center of its climate strategy. Industry executives criticized the request as another attempt to sour relations with domestic companies.
“The use of the SCC is innovative and necessitates the utilization of complete administrative procedures, not the quick cuts a judge has barred the government from using. Asking the court to allow the government to continue using something that isn’t backed by law and hasn’t gone through regulation is analogous to asking a police officer to enforce a statute that hasn’t yet been established,” says Kathleen Sgamma, President of the Western Energy Alliance.
Remind the Biden Administration of this file when they say they are not responsible for increasing petrol costs. The upheaval comes as tensions in Ukraine threaten to send global electricity costs skyrocketing, depending on whether Russia launches an invasion.
Therefore President Joe Biden has already planted the seeds for blaming the European conflict on gas price increases. “He will not pretend that this will be easy,” Biden said last week, echoing the President’s Press Secretary. “If Russia decides to invade, there may be implications here at home, which might affect energy costs.”