The Obama Administration Is Winning Its War On Fossil Fuels
With just 16 months remaining in President Obama’s second term, the administration is moving swiftly to make renewable energy more competitive by raising the cost of fossil fuels and regulating them out of existence. If the War on Coal is an apt example, apparently the strategy is working. More than two dozen coal companies have filed for bankruptcy so far.
Now the president’s regulators are focusing on an even larger industry with bigger players — the oil and natural gas companies.
According to reports, the oil and gas industry soon will experience a “regulatory avalanche” consisting of several federal regulations, including the recently announced methane emissions rule. Its goal is to reduce the amount of methane gas that escapes from oil and natural gas operations by 45 percent from 2012 levels.