Biden’s Reconciliation Bill Contains Billions in Taxes and Fines for Oil and Gas Industry

If you have been reading BND regularly, you know the answer to this question already.

What are two of my biggest beefs about massive spending bills?

Nobody reads them in full before they vote on them and they are ripe with hidden agenda items… like penalizing the fossil fuel industry.

That is exactly what Joe Biden and Democrats did in the reconciliation bill.

Help Us, But…

Last week, one of the bigger stories was Joe Biden petitioning the oil industry to help him lower prices.

With gasoline prices surging out of control, the Biden administration asked OPEC to send the United States more oil to meet the current demand.

When Trump was president, this was not a problem because we had become energy independent, with the Unites States capable of meeting its full demand domestically.

Ending fossil fuels has been priority one for Joe, so he handcuffed the industry domestically, and, poof, we have Jimmy Carter-era gasoline prices all over again.

Ironically, after Biden asked the industry for help, deep inside his reconciliation package are massive taxes and penalties in the billions for the gas and oil industry.

Representatives from Western Energy Alliance, U.S. Oil and Gas Association, International Association of Drilling Contractors, and the Energy Workforce & Technology Council spotted the penalties. It then petitioned the House Natural Resources Committee to pull them from the legislation.

The group argued that 6,000 everyday products used by Americans derived from oil would be at risk with these taxes and fines.

The group added, “The Administration has talked at length about supply chain constraints,” but these fines and taxes would “constrain the future supply of 6,000 products we all use every day.”

A full 29 percent of every barrel produced is used in creating over 6,000 consumer products other than some type of fuel.

The cost of everyday products, such as mops, tires, rugs, appliances, and curtains, would all start to climb.

These are the hidden taxes to the average person that this administration will never admit Americans must pay with their hidden agenda.

You want to have balloons at your child’s party… you will pay more.

You want to buy a new camera to take pictures of your child growing up…  you will pay more.

You want birthday candles for his or her cake… you will pay more.

This, of course, does not even take into account the tens of thousands of jobs that will be lost in the industry.

Next time Joe comes to your city to sell his package, ask him about that.

Source: Just the News

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A week ago, Joe Biden told Americans that prices aren’t actually high.

But the numbers don’t lie.

Inflation is up 14.4% since Biden took office.

And all the president can offer are more lies.

Inflation ⬆️ more than expected.

Overall CPI: +6.4% y/y
Fuel Oil: +27.7%
Electricity: +11.9%
Groceries: +11.3%
Chicken +10.5%
Milk: +11%
Eggs: +70.1%
Bread: +14.9%
Potatoes: +12.4%
Baby Food: +10%
Airline Fares: +25.6%
Real Average Hourly Earnings: -1.8%

Year-over-year real wages have been negative for 22 months - ever since Biden forced through his $1.9 trillion "stimulus."

That's a wages recession for American workers.

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