Biden's Winter Energy Chill
The Axios Generate newsletter cites Fellow Brian Prest's research on methane fees in a segment about rising fossil fuel prices.
Why it matters: Higher oil, gasoline and natural gas prices have political and policy ramifications.
- They come as President Biden's approval ratings have been trending generally downward in recent months, and Democrats face a high risk of losing one or both chambers of Congress in 2022.
- Meanwhile, the oil industry is arguing that climate provisions Democrats hope to move through Congress — like a new fee on methane emissions — would raise consumer costs (whether this would be significant is hardly clear).
