Joe Biden is on a mission to eliminate the use of fossil fuels.
He’s not pivoting away from his environmental extremist agenda in an election year.
And now Ted Cruz is going all-in to stop this disastrous green energy scheme Joe Biden snuck into law.
Joe Biden’ war on natural gas
Fracking has turned the United States into a world leader in natural gas production.
The explosive growth of the natural gas industry has made America the world’s leading exporter.
And it’s become the biggest energy source for generating electricity in the country.
That’s why President Joe Biden snuck a tax into Democrats’ so-called “Inflation Reduction Act,” which was nothing more than a Trojan Horse for Green New Policies.
To stop the release of methane gas, American oil and gas companies have to pay a fee to the federal government.
“To try to curb those emissions, the Environmental Protection Agency [EPA]is proposing to charge large energy producers $900 for every ton of methane emissions that exceed levels set by the federal government, beginning this year. The fee would increase to $1,200 in 2025 and plateau in 2026 at $1,500 per ton,” The New York Times reported.
Oil and gas companies will exceed the arbitrary emission levels set by the Biden regime, turning this into a de facto tax.
This became the first fee or tax on greenhouse gasses by the federal government.
And it’s almost certainly the beginning of efforts to bankrupt the American oil and gas industry with taxes.
That’s why Senator Ted Cruz (R-TX) is leading the charge to repeal Biden’s natural gas tax.
Ted Cruz introduces bill to repeal Joe Biden’s tax on natural gas
Cruz introduced the Natural Gas Tax Repeal Act to overturn the EPA’s fee on natural gas.
House Republicans passed a similar bill earlier this year.
According to the American Public Gas Association, 180 million Americans and nearly 5 million businesses rely on natural gas.
And with the cost of living soaring under Biden, they’re facing higher energy prices from his tax.
“Joe Biden and Biden officials have proven time and time again that they care more about their radical climate agenda than the needs of the American people,” Cruz said in a statement.
Texas is the leading producer of natural gas in the country.
“[Democrats] have driven up inflation and jeopardized American jobs and energy security, all of which would be made significantly worse by the methane emissions fee in the Inflation Reduction Act,” Cruz continued. “This fee will particularly harm Texas by undermining producers in the Permian Basin and across the state.”
The Biden EPA’s natural gas tax came on top of another methane regulation from the agency designed to cripple small oil and gas companies.
Companies would have to pay for costly equipment upgrades to search for methane leaks at job sites.
This is another crippling expense for smaller companies working in the natural gas industry.
Rep. August Pfluger (R-TX), who is sponsoring the House version of the bill, praised Cruz’ effort.
“President Biden’s tax on natural gas production does nothing but make it harder to produce American-made energy while driving up costs,” Pfluger said. “Congress must take action to repeal this looming regulatory disaster.”
Joe Biden is hellbent on destroying the American oil and gas industry with his war on natural gas.
