Energy
GOP governors announce plan to ‘unleash American energy’
Louisiana Gov. Jeff Landry
From The Center Square
“The reason that inflation is out of control is because of the federal government. If the federal government took its foot off of the neck of American energy, we could absolutely lower the cost of everyday goods.”
Republican governors on Monday announced a plan to “unleash American energy.” They also called on President Joe Biden to protect U.S. energy security after they say his administration has taken more than 200 actions against the oil and natural gas industry.
The governors unveiled their plan in front of a the PBF Energy Chalmette Refinery on the banks of the Mississippi River in St. Bernard Parish, Louisiana, led by Louisiana Gov. Jeff Landry.
“American energy has done more than any other industry to lift more people out of poverty globally than any other industry that I’ve known of,” Landry said.
He said governors know the needs of Americans more than anyone else.
“What we hear from our constituents is that inflation is eating into the pockets of Americans. One of the greatest drivers of that inflation is energy,” Landry said. “The reason that inflation is out of control is because of the federal government. If the federal government took its foot off of the neck of American energy, we could absolutely lower the cost of everyday goods.”
The Louisiana governor listed actions the president took “attacking the industry” from his first day in office, including pausing new oil and gas leases, cancelling the Keystone XL pipeline, prioritizing foreign energy over domestic energy, and releasing agency “rules and regulations at a neck-breaking speed,” that hurt Americans’ pocket books and prioritize “government regulations over free market solutions.”
Joining Landry were governors Mike Dunleavy of Alaska, Brian Kemp of Georgia, Chris Sununu of New Hampshire, Doug Burgum of North Dakota, Kevin Stitt of Oklahoma, and Glenn Youngkin of Virginia.
“Americans are paying 40% more every time they fill up their gas tanks and Republican governors believe one of the best ways to help Americans with all these rising costs is to support an ‘all-of-the-above’ approach to American energy production,” Stitt said, similar to those being implemented in Republican-led states.
“Oklahoma has some of the most affordable reliable energy in the entire country,” he said, because of its “all-of-the-above approach.” Oklahoma is the 6th-largest producer of crude oil and natural gas, the third-largest producer of wind-generated electricity, has among the lowest electricity prices for commercial and industrial consumers, and reduced its electricity generation carbon intensity by 61% over the last two decades, he said.
Stitt cited examples of the president’s “regulatory war on American energy,” including another new EPA emission rule over which 25 attorneys general sued.
“When you’re a governor, you’re working for everybody,” Burgum said, including Republicans, independents and Democrats. “Right now, we’ve got so many Americans that are struggling to put gas in their tank and food on the table.” The governors are “fighting for every American who’s having to pay more than they should,” he said, because of Biden administration policies under the guise of “a big lie that says, ‘if we do all this it’s going to be good for the environment.’”
The U.S. is producing roughly 13 million barrels of oil a day but could be producing “15, 16, 18, 20 million barrels a day,” he said. “That would be not just energy independence, that would be energy dominance. We’d be selling that to our allies instead of our allies having to buy from our enemies,” which is what happened, he said.
The governors are part of a 21-governor coalition who called on the president to pursue “an all-of-the-above energy approach that will promote homegrown energy” instead of pursuing policies that benefit China.
Their solutions include ending regulatory overreach that restricts domestic energy production, including reversing policies on the Dakota Access and Keystone XL pipelines; increasing onshore and offshore lease sales for all forms of energy production, including in the National Petroleum Reserve in Alaska; expediting approval of federal drilling permits; removing the pause on LNG exports; reversing EPA rules; working with Congress to enact comprehensive permitting reform, among others.
Business
Premiers fight to lower gas taxes as Trudeau hikes pump costs
From the Canadian Taxpayers Federation
By Jay Goldberg
Thirty-nine hundred dollars – that’s how much the typical two-car Ontario family is spending on gas taxes at the pump this year.
You read that right. That’s not the overall fuel bill. That’s just taxes.
Prime Minister Justin Trudeau keeps increasing your gas bill, while Premier Doug Ford is lowering it.
Ford’s latest gas tax cut extension is music to taxpayers’ ears. Ford’s 6.4 cent per litre gas tax cut, temporarily introduced in July 2022, is here to stay until at least next June.
Because of the cut, a two-car family has saved more than $1,000 so far. And that’s welcome news for Ontario taxpayers, because Trudeau is planning yet another carbon tax hike next April.
Trudeau has raised the overall tax burden at the pumps every April for the past five years. Next spring, he plans to raise gas taxes by another three cents per litre, bringing the overall gas tax burden for Ontarians to almost 60 cents per litre.
While Trudeau keeps hiking costs for taxpayers at the pumps, premiers of all stripes have been stepping up to the plate to blunt the impact of his punitive carbon tax.
Obviously, Ford has stepped up to the plate and has lowered gas taxes. But he’s not alone.
In Manitoba, NDP Premier Wab Kinew fully suspended the province’s 14 cent per litre gas tax for a year. And in Newfoundland, Liberal Premier Andrew Furey cut the gas tax by 8.05 cents per litre for nearly two-and-a-half years.
It’s a tale of two approaches: the Trudeau government keeps making life more expensive at the pumps, while premiers of all stripes are fighting to get costs down.
Families still have to get to work, get the kids to school and make it to hockey practice. And they can’t afford increasingly high gas taxes. Common sense premiers seem to get it, while Ottawa has its head in the clouds.
When Ford announced his gas tax cut extension, he took aim at the Liberal carbon tax mandated by the Trudeau government in Ottawa.
Ford noted the carbon tax is set to rise to 20.9 cents per litre next April, “bumping up the cost of everything once again and it’s absolutely ridiculous.”
“Our government will always fight against it,” Ford said.
But there’s some good news for taxpayers: reprieve may be on the horizon.
Federal Conservative leader Pierre Poilievre’s promises to axe the carbon tax as soon as he takes office.
With a federal election scheduled for next fall, the federal carbon tax’s days may very well be numbered.
Scrapping the carbon tax would make a huge difference in the lives of everyday Canadians.
Right now, the carbon tax costs 17.6 cents per litre. For a family filling up two cars once a week, that’s nearly $24 a week in carbon taxes at the pump.
Scrapping the carbon tax could save families more than $1,200 a year at the pumps. Plus, there would be savings on the cost of home heating, food, and virtually everything else.
While the Trudeau government likes to argue that the carbon tax rebates make up for all these additional costs, the Parliamentary Budget Officer says it’s not so.
The PBO has shown that the typical Ontario family will lose nearly $400 this year due to the carbon tax, even after the rebates.
That’s why premiers like Ford, Kinew and Furey have stepped up to the plate.
Canadians pay far too much at the pumps in taxes. While Trudeau hikes the carbon tax year after year, provincial leaders like Ford are keeping costs down and delivering meaningful relief for struggling families.
Economy
Gas prices plummet in BC thanks to TMX pipeline expansion
From Resource Works
By more than doubling capacity and cutting down the costs, the benefits of the TMX expansion are keeping more money in consumer pockets.
Just months after the Trans Mountain Expansion (TMX) project was completed last year, Canadians, especially British Columbians, are experiencing the benefits promised by this once-maligned but invaluable piece of infrastructure. As prices fall when people gas up their cars, the effects are evident for all to see.
This drop in gasoline prices is a welcome new reality for consumers across B.C. and a long-overdue relief given the painful inflation of the past few years.
TMX has helped broaden Canadian oil’s access to world markets like never before, improve supply chains, and boost regional fuel supplies—all of which are helping keep money in the pockets of the middle class.
When TMX was approaching the finish line after the new year, it was praised for promising to ease long-standing capacity issues and help eliminate less efficient, pricier methods of shipping oil. By mid-May, TMX was completed and in full swing, with early data suggesting that gas prices in Vancouver were slackening compared to other cities in Canada.
Kent Fellows, an assistant professor of Economics and the Director of Graduate Programs for the School of Public Policy at the University of Calgary, noted that wholesale prices in Vancouver fell by roughly 28 cents per litre compared to the typically lower prices in Edmonton, thanks to the expanded capacity of TMX. Consequently, the actual price at the gas pump in the Lower Mainland fell too, providing relief to a part of Canada that traditionally suffers from high fuel costs.
In large part due to limited pipeline capacity, Vancouver’s gas prices have been higher than the rest of the country. From at least 2008 to this year, TMX’s capacity was unable to accommodate demand, leading to the generational issue of “apportionment,” which meant rationing pipeline space to manage excess demand.
Under the apportionment regime, customers received less fuel than they requested, which increased costs. With the expansion of TMX now complete, the pipeline’s capacity has more than doubled from 350,000 barrels per day to 890,000, effectively neutralizing the apportionment problem for now.
Since May, TMX has operated at 80 percent capacity, with no apportionment affecting customers or consumers.
Before the TMX expansion was completed, a litre of gas in Vancouver cost 45 cents more than a litre in Edmonton. By August, it was just 17 cents—a remarkable drop that underscores why it’s crucial to expand B.C.’s capacity to move energy sources like oil without the need for costly alternatives, allowing consumers to enjoy savings at the pump.
More than doubling TMX’s capacity has rapidly reshaped B.C.’s energy landscape. Despite tensions in the Middle East, per-litre gas prices in Vancouver have fallen from about $2.30 per litre to $1.54 this month. Even when there was a slight disruption in October, the price only rose to about $1.80, far below its earlier peaks.
As Kent Fellows noted, the only real change during this entire timeline has been the completion of the TMX expansion, and the benefits extend far beyond the province’s shores.
With TMX moving over 500,000 barrels more per day than it did previously, Canadian oil is now far more plentiful on the international market. Tankers routinely depart Burrard Inlet loaded with oil bound for destinations in South Korea and Japan.
In this uncertain world, where oil markets remain volatile, TMX serves as a stabilizing force for both Canada and the world. People in B.C. can rest easier with TMX acting as a barrier against sharp shifts in supply and demand.
For critics who argue that the $31 billion invested in the project is short-sighted, the benefits for everyday people are becoming increasingly evident in a province where families have endured high gas prices for years.
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