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Despite Biden saying he is doing all he can to increase domestic oil production, his numerous actions beginning on his first day in office show the opposite. Clearly, his climate/tax bill (the so-called Inflation Reduction Act) hits the domestic oil industry in the back with massive fees and royalty increases. Even production on non-federal lands gets hit with […]
Power prices are expected to increase as the price of natural gas—the swing fuel for electric generation—increases to meet domestic and international demand. The Energy Information Administration (EIA) expects the natural gas price at the Henry Hub to average $9 per million Btu in the 4th quarter of 2022 and the residential electricity price to average 14.75 cents […]
Mexico’s newest oil refinery is not yet operational since it is behind schedule and over budget, but President Andrés Manuel López Obrador announced the refinery as a centerpiece to his goal of securing Mexico’s energy independence, which President Trump had secured for Americans in 2019 and which President Biden is destroying through his energy and climate policies. […]
Biden’s climate and tax bill, the so-called Inflation Reduction Act, and last year’s infrastructure law will supposedly cut emissions by 40 percent by 2030—close to Mr. Biden’s goal of cutting emissions roughly in half by then, according to Biden’s Department of Energy. To close the gap between DOE’s estimates and Biden’s promises, the White House intends to […]
President Biden is depleting the U.S. Strategic Petroleum Reserve (SPR), which is currently at its lowest level in 37 years. On July 26, 2022, the U.S. Department of Energy announced an emergency sale from the reserve of up to 20 million barrels, which will go through the end of October, just prior to the mid-term election […]
The Manchin/Schumer ”Inflation Reduction Act“ keeps and extends the $7,500 tax credit on electric vehicles and removes the numerical cap but there are a number of stipulations related to obtaining the full credit, one of which is where the battery materials are made. To qualify for $3,750 of the credit, an increasing share of a vehicle’s battery […]
As talks intensify on the once ambitious “Build Back Better” reconciliation measure, the conversation has shifted towards how to pay for a slimmer, but no less disruptive package of subsidies for wind, solar, electric vehicles, and other non-energy related measures. The Democrats would be satisfied to raise corporate taxes. Some in the business community, however, […]
On this episode of The Unregulated Podcast, Tom Pyle and Mike McKenna disscuss President Biden’s “secret plan” to defeat inflation and other headlines from this week. Links: One year ago today, Joe Biden held one of the most embarrassing press conferences in American history, claiming it was “highly unlikely” the Taliban would take over Afghanistan. […]
The Biden administration has recently called on America’s natural gas and oil companies to invest billions of dollars into increasing production, BUT at the same time, President Biden and his cronies are promising to run them out of business in the next few years! It’s time for Biden to get his story straight on American […]
President Biden’s Department of Interior released its draft offshore lease plan late on July 1—just before the Fourth of July holiday, as American families were paying historically-high gasoline prices for their travels. The plan is required by law and a final plan was due by June 30, when the current plan ended. The draft plan lays out […]