July 4, 2022

White House: Oil and gas industries to face climate ‘reckoning’ via increased regulation

As gas prices in many parts of the country continue reaching record highs, word has come down from the Biden administration that costly new “green” regulations on energy producers are on the way, regardless of the upward force they will surely exert on what consumers will have to pay, according to Breitbart.

During a Thursday appearance on Hallie Jackson Reports on MSNBC, National Climate Adviser Gina McCarthy addressed the frequently-expressed worry that more onerous regulation of the oil and gas industry will bring pain to the pocketbooks of Americans who are already in an economic pinch due to the rising cost of consumer goods, rent, and other necessities.

Defiant in tone, McCarthy declared, “There’s a place for” heightened regulation and “We’re going to use it,” adding that Congressional hearings with executives from the oil and gas industries would likely force a pivotal awakening on the part of enterprises she believes have not taken sufficient action on climate change issues.

“This is basically a day of reckoning, I think, for the oil and gas sector. Because for many decades, they denied climate change,” McCarthy opined, adding, “And now that we’re every day, seeing the wildfires, the droughts, the floods, the heat stress, people are no longer listening to that or tolerating it.”

Spelling out what she thinks energy producers must do going forward, McCarthy stated, “So, they can’t get away with that anymore. They have to get serious about delivering clean energy and electricity to the people in this country, and they have to stop with the deception and move into this decade and help us made the transition to clean energy so that we can win the 21st century here.”

When pressed by Jackson to answer the initial question about possible price increases for consumers, McCarthy skirted the issue and said vaguely, “It’s not about penalties, it’s all about how we use our economic muscle to move forward and, again, win the jobs of today and the jobs of the future.”

According to a report from CNN, the White House does indeed stand ready to bring forward a series of federal regulations and executive actions meant to assist President Joe Biden in fulfilling the ambitious climate goals he has already established, including cutting 50-52% of all greenhouse gas produced in this country to under 2005 levels by a deadline of 2030, whether Congress is on board or not.

Though the administration is reportedly waiting to determine whether legislators will reach agreement on the sweeping spending bills that remain stalled following months of negotiation before announcing timelines for the executive actions being considered, the outlet noted that there does seem to be a firm commitment to pushing ahead with the burden of additional regulations regardless of what happens on Capitol Hill.

With American consumers already facing a supply chain crisis, troubling inflation, and potential job loss due to authoritarian vaccine mandates, new regulatory schemes that are all but certain to raise the price at the pump and elsewhere are perhaps the very last thing the economy needs.

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