Obama Declares War On Natural Gas

Natural Gas and methane chartYou really have to hand it to the green zealots who populate the Obama White House and the Environmental Protection Agency. Their quest to destroy the fossil fuel industry is relentless and all too effective.

The damage that the Obama administration is willing to do to “decarbonize” the American economy apparently has no limit.

This latest fossil-fuels assault comes just two weeks after the administration announced new environmental rules that will take a wrecking ball to America’s coal industry. Those rules are designed to reduce coal production by about one-third over the next two decades and will destroy hundreds of thousands of jobs and raise the electric utility bills of most American families.

Now we have new regulations from the EPA to restrict leakages from oil and natural gas production. Well, actually, they call these restrictions on methane — which sounds menacing but is natural gas.

The plan is to reduce these emissions by almost half in a decade. This is draconian and potentially ruinous to the nascent shale oil and gas industry.

The new regulations are wrongheaded not just from an economic standpoint but from an environmental perspective as well. Natural gas is an abundant, made-in-America, cheap and clean-burning fuel.

The U.S. has reduced its carbon emissions, as even President Obama acknowledged earlier this year, more than any other industrial nation in the last five years.

The reason is that the shale oil and gas revolution is making natural gas plentiful and affordable, so we are using more of it.

So if you’re a global warming alarmist, you should be celebrating the new age of natural gas, not trying to shut it down.

Natural gas also reduces real pollutants, such as lead, sulphur and carbon monoxide, that really can make people sick from maladies like asthma.

The EPA contends that methane is 28 to 36 times more potent than carbon at trapping heat, which worsens global warming — and that we are spewing more toxic levels into the atmosphere than ever before.

Actually, the government’s own statistics reveal that methane emissions are down about 10% from 2005-12 even as natural gas production has risen by nearly one-third.

In other words, it’s getting cleaner without any intrusive interventions from the EPA’s green crusaders.

The amount of leakage into the atmosphere from fracking operations is minuscule, says Dan Kish of the Institute for Energy Research. “Cows emit more methane when they pass gas than the natural gas industry,” he notes.

The new rules are doubly moronic because EPA chief Gina McCarthy has said that the U.S. will have to rely more on “cleaner-burning energy sources like natural gas” for electric power production in order to comply with the anti-coal initiative.

So one day the EPA praises natural gas, and the next the agency wants to strangle it.

Why?

The only plausible answer is that cheap shale oil and gas are killing the renewable energy industry, in which Obama’s billionaire friends and contributors such as Tom Steyer have invested so heavily.

Over the last seven years, the price for natural gas has fallen to $3-$4 per thousand cubic feet from $12. It’s bankrupting “renewable energy” companies. Even with billions of dollars of Uncle Sam’s subsidies, wind and solar have no hope of competing with low-priced nat gas. It’s simple economics.

If the goal is for America to use clean energy and do it in a way that’s affordable for industry and consumers, then the Obama administration ought to be taking every step possible to facilitate shale gas production.

That these new regulations will achieve exactly the opposite outcome can lead only to the conclusion that the perpetrators of these new rules are evil or stupid or both.

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    GR82DRV

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    As if we needed proof. Obama could give a $#!+ about clean energy, and only wants to cripple the U.S. economy to “even set” world poverty, forcing the populace to approach the government on bent knee. This strategy sets the table for a world government of like-minded Obama-style Marxists.

    [i]”The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.”[/i]
    -Winston Churchill

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    Amber

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    Great quote GR82DRV .
    The attack on natural gas means the short sellers of coal are turning elsewhere ? Short sell stocks you know are dropping like a stone with a little extra government push for insurance then buy the shares from your short sale proceeds then plant related company stock pump stories . Ta Da you can be a $$$Billionaire too . You might even have play money left over to buy the next batch of politicians providing they play ball . After all it costs to live in a white house .

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    Amber

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    The Economist ( Aug 15/15 ) recently reported that” 83%of Chinese are exposed to air that, in America ,would be deemed by the EPA either to be unhealthy or unhealthy for sensitive groups .” So why is Obama and the EPA so keen on eliminating coal and now natural gas jobs for them only to be exported to China with their brutal track record of environmental stewardship ?
    Given the hedge fund traders now acting as presidential bankers it is now obvious what they expect of their bought politicians .

    Despite all the Trump politically incorrect pronouncements and flawed judgement some of the the American people are figuring out who are behind the bought and paid for politicians .
    Trump at least is not one
    of them .
    Isn’t it weird that with all the bright people in the USA two families seek to be repeat tenants in the White House ?

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