Biden, in a recent speech, made a very telling remark during a recent speech, saying “And because of our po- — our policies, gasoline prices are coming down. And what’s most exciting about it: People are starting to feel a sense of optimism and the impact of these legislative achievements in their own lives.”
Did you catch that? Biden said “And because of our po- — our policies“. In other words, he almost said “pro-oil” or “pro-energy” or something similar, likely because he wants the average American to see him as in favor of American energy production and keeping energy costs down rather than against that policy.
Well, his EPA seems all on board his non-pro-oil stance, as it just dramatically ramped up the leftist war on fossil fuels by increasing by 400% the government calculation of damages from carbon emissions. Just the News, reporting on why that’s a big deal, noted that:
The so-called Social Cost of Carbon was first set in 2009 under then-President Barack Obama. Under Democrats it has been set for most of the last decade at $51 per metric ton. But in a rulemaking notice in mid-November, EPA said it had devised a new calculation that raises that damage estimate to $190 per metric ton by 2022 standards and as much as $410 by the year 2080.
The figure isn’t just hypothetical. If enacted, it could affect everything from the cost of methane regulations and tailpipe emissions to the “climate reparations” that President Joe Biden has committed the United States to paying to poor countries in the future.
That $190 figure was settled on by the EPA after a lengthy study involving multiple “discount rates” to find the social cost of carbon, with the agency finally settling on the middle-case scenario, a 2% discount rate, as the proper estimate for finding the “Social Cost of Carbon,” leading to the $190 a metric ton figure. You can read more about the EPA study and how it settled on the figure here.
Louisiana Solicitor General Liz Muiller, adding more details on the danger of the policy and what it will mean for American consumers in an interview with John Solomon, claimed:
“If you think about the fact that they would impose this damage factor, let’s say on farmers, because it applies to fertilizer. Fertilizer emits nitrous oxide. So fertilizer is a big contributor. If every family farmer now is going to have to pay more to obtain fertilizer to fertilize crops that feed us, well, what’s that going to do to the price of food?
“If you’re industrial, if you use plastic products in anything that’s touched by petroleum, it’s going to increase the cost of producing those goods. And that’s all going to be passed on to the consumer.”
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So Brandon might be patting himself on the back for doing a great job as the gas price declined somewhat from its recent highs, but if his administrative agencies have anything to say about it, that could soon change for everyone, with disastrously bad price increases everywhere from the gas pump to grocery stores.