• 3 minutes "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 9 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 1 day GREEN NEW DEAL = BLIZZARD OF LIES
  • 7 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 5 days Energy Armageddon
  • 3 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 21 hours "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 1 day "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 1 hour Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 1 day "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 1 day The Federal Reserve and Money...Aspects which are not widely known
  • 3 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 11 days Wind droughts
  • 2 days Goldman Betting on Cryptocurrencies
  • 10 days Putin and Xi Bet on the Global South

Biden’s Energy And Climate Bill Could Be Dead In The Water

West Virginia’s Democratic Senator Joe Manchin, who holds a swing vote in a 50-50 Senate, said on Thursday that he would not support President Joe Biden’s energy and climate investments bill, essentially deadlocking the piece of legislation the Democrats have sought to pass to help the Administration’s clean energy goals.

Senator Manchin declined to back the energy and climate provisions, as well as the tax provisions, in the reconciliation bill on which the Senate Democrats have been working. Manchin told on Thursday Senate Majority Leader Chuck Schumer that he would only back a reconciliation bill that reduces the price of medicines and extends subsidies for the Affordable Care Act, a Democrat briefed on the discussions told CBS News.

Senator Manchin is thus dealing a blow to President Biden’s energy and climate agenda by refusing to back in August the bill as-is.

That’s not the first time the West Virginia Senator has refused to support climate provisions in legislation pursued by the Democrats. Last autumn, President Biden’s spending plan was thrown into doubt after Manchin opposed the clean electricity part of the program and the penalization of coal-powered electricity generation.

Oregon Democratic Sen. Ron Wyden, who helped draft part of the proposed reconciliation bill, said he was disappointed with Senator Manchin’s refusal to back the bill in its energy and climate part.

Related: Ukrainian Energy Giant Asks Creditors To Defer Debt Payments

“This is our last chance to prevent the most catastrophic, and costly, effects of climate change,” Sen. Wyden said in a statement carried by CBS.

The failure of the reconciliation bill is another setback for President Biden’s clean energy agenda after the Supreme Court ruled at the end of last month that the Environmental Protection Agency (EPA) does not have the authority to set greenhouse emission standards for existing power plants. In a climate case brought by West Virginia, a major coal-producing state, the Supreme Court ruled 6-3 that Congress had the power to set environmental standards for power plants, not the EPA.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • George Doolittle on July 16 2022 said:
    Those who crafted this Legislation knew this was going to be the case so how Chuck Schumer remains majority leader after this #joke i think everyone certainly in New York State finds #befuddling

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News