Parting Shot: Biden-Harris EPA Slaps $1,500/Ton Tax on Methane

In 2022, after the shocking news that U.S. Senator Joe Manchin (from West Virginia) had sold out his state and the entire country by agreeing to support the misnamed Inflation Reduction Act (IRA) bill, the details began to come out about just how bad this bill really is for the oil and gas industry. First and foremost, it slaps a new tax on oil and gas activities (see Joe Manchin’s Green New Deal Cave Slaps O&G with Big Methane Tax). Earlier this year, the Biden-Harris EPA unveiled its official tax IRA proposal to force many fossil energy companies out of existence (see Full Attack Mode: Biden EPA Proposes New Punitive Methane Tax). Last week, on their way out the door, the Biden-Harris sore losers made the tax official---something Trump will almost certainly overturn in his first week in office.

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