Enjoying cheaper gas? Don’t worry, EPA is about to cause it to go up again

posted at 6:41 pm on January 15, 2015 by Bruce McQuain

Yes friends, never let it be said that this administration isn’t beholden to special interests to the detriment of the middle class.

The oil shale boom has helped create a surplus of oil that has entered the market and driven prices down to under $2 a gallon. It is an economic boon to hard pressed families and businesses who use a lot of fuel. It is also a testament to how well markets work.

And that’s why government is about to intrude in that market and jack the prices back up. This time under guise of your out-of-control EPA:

In spite of dramatically lower methane emissions from fracking, according to the EPA’s own data, the agency wants to impose draconian regulations on the oil and gas industry similar to those on coal.

The new rules that the White House announced on Wednesday aim to cut oil emissions of methane, a target of environmental groups, by 45% below 2012 levels, despite the fact that the emissions already show a sharp decline even as shale oil and gas production has skyrocketed.

This war-on-shale action mirrors the administration’s war on coal, with EPA rules impossible to meet economically and sometimes requiring technology that doesn’t even exist.

This is all based on the extremely shaky theory that the earth is warming due to greenhouse gasses produced by man, despite 18 years with no evidence of warming. It is also being done despite the fact that the EPA has no real reason, according to its own findings, to go after this industry:

“Reported methane emissions from (the) petroleum and natural gas systems sector have decreased by 12% since 2011, with the largest reductions coming from hydraulically fractured natural gas wells, which have decreased by 73% during that period,” according to the EPA itself.

Oil from shale has created jobs, lowered fuel prices and generally been the one bright spot in an otherwise lackluster economy. And it has been done without Federal help. Now the government is going to step in and impose onerous requirements on them that will both slow production and raise production costs (then when prices go back up it will blame greedy oil companies).

You’d almost think the guy in the White House had once promised that energy prices would rise to very high levels under his administration.

Oh, wait …

~McQ


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Comments

States should start arresting EPA employees who try to enforce these illegal actions and throw them in jail.

ConstantineXI on January 15, 2015 at 6:44 PM

Meanwhile, also, largely due to Obama’s climate change bs:

US Electricity Rates Soar To Record Levels…

http://weaselzippers.us/210996-electricity-rates-soar-to-record-levels/

U.S. average electricity rates will hit a record high… That record is expected to be beaten in 2016, as prices hit 12.86 cents per kilowatthour (kWh) – the highest annual average price in the 21st century.

Electricity prices are set to rise even further as coal-fired power plants are shut down due to Environmental Protection Agency clean air regulations. So far, 381 coal-fired generators are slated to shutdown over the coming years due to EPA rules.

anotherJoe on January 15, 2015 at 6:48 PM

The last two functioning brain cells were just knocked out of everdiso and Ned Pepper’s brains.

Schadenfreude on January 15, 2015 at 6:50 PM

We need to tar and feather the EPA. This has to stop.

Oil Can on January 15, 2015 at 6:55 PM

The last two functioning brain cells were just knocked out of everdiso and Ned Pepper’s brains.

Schadenfreude on January 15, 2015 at 6:50 PM

Between them or individually?

GrayDog on January 15, 2015 at 6:56 PM

Take a listen to Ted Cruz’s rebuttals of the leftists on climate change and the idiotic EPA agenda in this 5 minute CNN interview on climate change with Dana Bash here: https://lockerdome.com/6307652925924673/6429392401344532

Also, Ted Cruz was just named Chairman of the Subcommittee on Space, Science and Competitiveness, which has him overseeing the climate change pushing NASA. Expect the fear mongering Chicken Littles to throw a fit!

Ted Cruz on NASA: “We Should Once Again Lead the Way for the World in Space Exploration.” http://www.breitbart.com/big-government/2015/01/14/ted-cruz-on-nasa-we-should-once-again-lead-the-way-for-the-world-in-space-exploration/

anotherJoe on January 15, 2015 at 6:56 PM

Schadenfreude on January 15, 2015 at 6:50 PM

did they ever have any to lose.

RonK on January 15, 2015 at 6:56 PM

Just for our resident d-bag
Dive: Just 37 percent approve of Obama in week marked by Paris MIA

The Notorious G.O.P on January 15, 2015 at 6:56 PM

Between them or individually?

GrayDog on January 15, 2015 at 6:56 PM

did they ever have any to lose.

RonK on January 15, 2015 at 6:56 PM

Tough

Schadenfreude on January 15, 2015 at 6:59 PM

Outstanding. Throw in increased federal gas taxes and ethanol requirements and, by golly, we’ll get back up to that $4 or $5 / gallon gas level. And when all the fracking companies go belly up because of the current glut, a pound of hamburger costs $10 and the Saudis reduce their output so oil goes back up to $100 per barrel, we’ll be able to match European levels of $10 / gallon.

It’s such a beautiful thing.

Ruckus_Tom on January 15, 2015 at 7:02 PM

This is all based on the extremely shaky theory that the earth is warming due to greenhouse gasses produced by man, despite 18 years with no evidence of warming.

That’s generous… considering AGW has as much plausibility as free energy or perpetual motion…

elgeneralisimo on January 15, 2015 at 7:03 PM

The EPA was created by an executive order and could be eliminated, along with all of it’s expensive regulations with a new executive order.

Ellen85219 on January 15, 2015 at 7:06 PM

The current glut is already affecting the oil field, and has been for the last year or so. Rigs are getting stacked and companies are trying to shuffle workers as best they can. If they increase the cost of fracking, that will mean more jobs lost. The price of oil has already cost a minimum of $150 billion in projects for 2015 alone. If they increase the cost of production while the price of oil remains low, that means more people will be out of work.

It is rumored the Saudis are doing this to force out American fracking. Looks like the @$$hole is helping them along.

Nothing but good times ahead…

JAGonzo on January 15, 2015 at 7:08 PM

States should start arresting EPA employees who try to enforce these illegal actions and throw them in jail.

ConstantineXI on January 15, 2015 at 6:44 PM

Damn good idea. They really should at least “escort” them to their state lines and bar re-entry.

Dr. ZhivBlago on January 15, 2015 at 7:11 PM

Thank you dick m nixon. Good government intentions are never good for the public.

jaywemm on January 15, 2015 at 7:17 PM

FCUK!FCUK!FCUK!FCUK!FCUK!FCUK!FCUK!FCUK!FCUK!FCUK!FCUK!FCUK!FCUK!

ronsfi on January 15, 2015 at 7:17 PM

Wait a minute — I need gas prices to stay this low for the next 20 years or so in order to be able to save up and pay for my first DeathCare premium!

Neddy, everditzo, nonbrain … somebody, help me out here.

ShainS on January 15, 2015 at 7:24 PM

The phoenix sees this as more food. As I mentioned before, the phoenix is getting quite hungry, but can’t make it’s appearance until everything is in ashes.

Soon, soon.

Andy__B on January 15, 2015 at 7:25 PM

We need to tar and feather the EPA. This has to stop.

Oil Can on January 15, 2015 at 6:55 PM

Or maybe crucify them, as one of their own suggested.

But I would settle for de-funding them. How about it, Boehner and McConnell?

Steve Z on January 15, 2015 at 7:38 PM

This is all based on the extremely shaky theory that the earth is warming due to greenhouse gasses produced by man, despite 18 years with no evidence of warming.

Evidence is not needed, it’s a religion after all. Social Justice for Mother Gaia.

pay up suckas…

wytshus on January 15, 2015 at 7:48 PM

We can’t drive our SUVs and, you know, eat as much as we want and keep our homes on, you know, 72 degrees at all times, whether we’re living in the desert or we’re living in the tundra, and then just expect every other country is going to say OK, you know, you guys go ahead keep on using 25 percent of the world’s energy, even though you only account for 3 percent of the population, and we’ll be fine. Don’t worry about us. That’s not leadership.

~ Barack H. Obama

Rebar on January 15, 2015 at 7:48 PM

Oil from shale has created jobs, lowered fuel prices and generally been the one bright spot in an otherwise lackluster economy. And it has been done without Federal help.

Which is as it should be–unless you have an immature, pouty, thin-skinned, overly-sensitive, ideology-driven, narcissistic POUTS in office. Then this happens:

Now the government is going to step in and impose onerous requirements on them that will both slow production and raise production costs (then when prices go back up it will blame greedy oil companies).

Now all Hades will break loose, and all because the immature, pouty, thin-skinned, overly-sensitive, ideology-driven, narcissistic POUTS has been proven wrong/thwarted…

Newtie and the Beauty on January 15, 2015 at 7:52 PM

The Prez and his sycophants are so full of crap that methane emissions have risen a thousand fold, hence, the bs EPA bs.

vnvet on January 15, 2015 at 8:30 PM

The EPA needs to be abolished.

Star Bird on January 15, 2015 at 8:38 PM

This has nothing to do with methane. Obama’s only concern is the the US remains dependent on Islamic countries for oil.

sixchickensleft on January 15, 2015 at 8:42 PM

Environmental Protection Agency. They are in the protection racket, alright.

ghostwalker1 on January 15, 2015 at 8:58 PM

What surprises me is that he didn’t try to hurt us sooner this way.

Perspicacious on January 15, 2015 at 9:03 PM

If it screws the economy, King Barack is for it.

GarandFan on January 15, 2015 at 9:31 PM

By the way the Fed is thinking of increasing interest rates pretty soon. You know? To suck up all the excess dollars they’ve been flooding the market with over the last 6 years.

1% simple interest (our current rate) on $18,000,000,000,000.00 is $180,000,000.00. 10% simple interest on $18,000,000,000,000.00 is $1,800,000,000.00.

We got up around the 20% interest range during the good old Carter years.

That’s $3,600,000,000,000.00 coming from every one’s paychecks.

Take a look at Japan’s 25 year recession. As long as we’ve got ink and can keep printing dollars it’ll be A Okay.

Ruckus_Tom on January 15, 2015 at 9:32 PM

As long as we’ve got ink and can keep printing dollars it’ll be A Okay.

Ruckus_Tom on January 15, 2015 at 9:32 PM

Things that aren’t sustainable go on until they can’t anymore. That’s what’s going to happen here. When it finally does come to a halt it will be really fast and very unexpected. At least for most people.

I’m coming around to the viewpoint that even if we did elect smart, courageous people to deal with the mismanagement that’s been going on, it’s probably too late, anyway.

trigon on January 15, 2015 at 9:49 PM

“Necessarily skyrocket”

nazo311 on January 15, 2015 at 9:59 PM

Hot Air writers never cease to amaze me with the fantasy land they live in.
What the author doesn’t mention is that Obama’s new regulations are only on new wells, not existing ones.

Secondly, methane recapture is something that the industry is already starting to do. Methane is being blended with natgas and being sold. It is now a product with market value.

I’m no fan of Obama, but this story is replete with nonsense about EPA regulations in this instance.

You may now return to your regularly scheduled stupidity.

DevilsPrinciple on January 16, 2015 at 1:09 AM

DevilsPrinciple on January 16, 2015 at 1:09 AM

Methane is the major constituent of Natural Gas. It has always had a market value though sometimes too low to bother collecting it.

chemman on January 16, 2015 at 1:49 AM

This is all based on the extremely shaky theory that the earth is warming due to greenhouse gasses produced by man, despite 18 years with no evidence of warming.

Theory? AGW is barely a hypothesis and the 18 year pause has falsified it.

RadClown on January 16, 2015 at 9:11 AM