Forbes: “Biden’s Plan To Expand Climate Disclosure Requirements Means Higher Prices For Consumers”

Guest essay by Eric Worrall

A few days ago WUWT warned Biden’s attack on Fossil Fuel would slam consumers with higher gasoline pump prices. This warning has been echoed and amplified by Forbes, and outlet which is frequently sympathetic to Biden’s green energy push.

Biden’s Plan To Expand Climate Disclosure Requirements Means Higher Prices For Consumers

Dan Eberhart
Contributor, Energy
Dan Eberhart is CEO of Canary, LLC

The Securities and Exchange Commission (SEC) is expected to roll out as soon as October expansive new regulations requiring public companies to disclose how their operations contribute to climate change and what they are doing to reduce greenhouse gas emissions.

Members of the U.S. Senate Banking, Housing, and Urban Affairs Committee may want to ask SEC Chairman Gary Gensler about the impact of the new climate regulations on consumer energy prices when he testifies before the committee at Tuesday’s oversight hearing

The move to strengthen climate-related disclosures by requiring companies to collect and disclose data on all indirect upstream and downstream greenhouse gas emissions that occur outside their core operations, including their supply chains, has long been foreshadowed by the SEC. Still, it represents the latest salvo in the Biden administration’s escalating war on America’s domestic oil and natural gas sector. 

The administration is steamrolling ahead with punitive requirements while at the same time begging Saudi Arabia and the rest of the Organization of the Petroleum Exporting Countries (OPEC) cartel to increase global oil production to keep a lid on prices. If it seems counterintuitive, it is. It’s anti-American. 

Requiring companies to account for any greenhouse gases emitted along their supply chains and using their products is an incredibly burdensome standard that will disproportionally affect domestic energy producers, including the financial institutions that underwrite the sector. 

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What can I say – in business as in life, it usually makes more sense to create the new system, before you attempt to destroy the old system.

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via Watts Up With That?

September 14, 2021 at 12:50PM

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