Biden’s Home Gas Tax Causing Homeowners a 16% Hike in Heating Costs

The bill slaps an escalating tax on methane emissions by oil and gas producers that will reach $1,500 per ton by 2025. The fee is meant to be President Biden’s contribution to the recent Glasgow vow to reduce global methane emissions 30% by 2030. The tax is estimated to raise $8 billion over 10 years.

Producers will naturally pass the cost of the tax along to customers.

Even without this new tax, the Energy Information Administration (EIA) is warning that about half of U.S. households that primarily heat with natural gas will pay 30% more this winter than they did a year ago—50% more if this winter is cold. The American Gas Association estimates the methane tax could add another 17% to an average customer’s bill.

So, why is the Biden administration punishing middle class and poor homeowners just as the winter season begins?

It’s all about the left’s favorite bugbear, climate change.

“Methane emissions are a major contributor to climate change, which is why President Biden is taking critical, commonsense steps at home to reduce methane across the economy – all while rallying the rest of the world to take similar bold actions,” the White House said in a statement.

In other words, Biden lied when he said he wasn’t raising taxes on people who make less than $400,000.