17 Apr '16, 12pm

#peakoil Are You Ready for $5 Gas?: In a version of “hit ’em while they’re down,’ the Obama administration has... https://t.co/ayCuPd6cFQ

In a version of “hit ’em while they’re down,’ the Obama administration has unleashed a slew of new regulations targeting U.S. oil and gas production. These include costly methane emission rules on all new and existing wells, reversals of promised offshore acreage leasing, a de facto freeze of leasing on federal lands, and burdensome EPA restrictions of fracking. Then there is Obama’s recent budget proposal of a $10-per-barrel surtax on top of the high taxes and royalties already paid by oil companies. Just as low oil prices are driving hundreds of oil companies out of business, Obama is piling on in an apparent effort to drive even more into bankruptcy.

Full article: http://peakoil.com/publicpolicy/are-you-ready-for-5-gas

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