Forbes: “Biden’s Plan To Expand Climate Disclosure Requirements Means Higher Prices For Consumers”

Guest essay by Eric Worrall

A few days ago WUWT warned Biden’s attack on Fossil Fuel would slam consumers with higher gasoline pump prices. This warning has been echoed and amplified by Forbes, an outlet which is frequently sympathetic to Biden’s green energy push.

Biden’s Plan To Expand Climate Disclosure Requirements Means Higher Prices For Consumers

Dan Eberhart
Contributor, Energy
Dan Eberhart is CEO of Canary, LLC

The Securities and Exchange Commission (SEC) is expected to roll out as soon as October expansive new regulations requiring public companies to disclose how their operations contribute to climate change and what they are doing to reduce greenhouse gas emissions.

Members of the U.S. Senate Banking, Housing, and Urban Affairs Committee may want to ask SEC Chairman Gary Gensler about the impact of the new climate regulations on consumer energy prices when he testifies before the committee at Tuesday’s oversight hearing

The move to strengthen climate-related disclosures by requiring companies to collect and disclose data on all indirect upstream and downstream greenhouse gas emissions that occur outside their core operations, including their supply chains, has long been foreshadowed by the SEC. Still, it represents the latest salvo in the Biden administration’s escalating war on America’s domestic oil and natural gas sector. 

The administration is steamrolling ahead with punitive requirements while at the same time begging Saudi Arabia and the rest of the Organization of the Petroleum Exporting Countries (OPEC) cartel to increase global oil production to keep a lid on prices. If it seems counterintuitive, it is. It’s anti-American. 

Requiring companies to account for any greenhouse gases emitted along their supply chains and using their products is an incredibly burdensome standard that will disproportionally affect domestic energy producers, including the financial institutions that underwrite the sector. 

Read more: https://wattsupwiththat.com/2021/09/11/biden-democrats-pursue-extreme-climate-change-domestic-energy-agenda/

What can I say – in business as in life, it usually makes more sense to create the new system, before you attempt to destroy the old system.

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B Clarke
September 14, 2021 10:13 am

I don’t think its bidens plan hes clearly not capable of putting together a plan and negotiating with stake holders, hes a face ,theres nothing left behind the face, his plan is the left destroying America.

” The administration is steamrolling ahead with punitive requirements while at the same time begging Saudi Arabia and the rest of the Organization of the Petroleum Exporting Countries (OPEC) cartel to increase global oil production to keep a lid on prices. If it seems counterintuitive, it is. It’s anti-American. ”

So five years down the line American oil,gas and coal companies don’t exist, imports of the same are stopped by some world crisis and China threatens America or Russia or whoever,

Is every democrate on board with this ,do they understand how vulnerable America is going to become?

SxyxS
Reply to  B Clarke
September 14, 2021 10:55 am

It is not Bidens plan just like the green new deal isn’t AOC’s.
AOC doesn’t know what a kitchen sink is and is completely lost when she cant read from a paper / TelePrompTer but she can come up with a super complex plan to transform the US energy supply while she doesn’t know the most basic stuff about electricity
and Joe’s biggest achievement this year was to not poop his pants for 3hours on the 27th 27th of may.
Frank Zappa used to say ” The illusion of democracy /freedom will only continue as long as it’s profitable “

B Clarke
Reply to  SxyxS
September 14, 2021 10:59 am

Frank also coined the phrase ” do you kneel down or bend over” which out of context of the original meaning, means America is going to get shafted one way or another.

SxyxS
Reply to  B Clarke
September 14, 2021 1:15 pm

Frank also made an album about hippies exposing their real motivations
“We are all in it for the money”
Which perfectly describes the neohippies(woke),Blm (marxist founder bought 4 houses for 3.2 mio) AGW science.
Considering that Zappa was a driving force at the start of the hippie movement in Laurel Canyon i’m somehow surprised that he never wasted a chance to mock them.

gringojay
Reply to  SxyxS
September 14, 2021 2:10 pm

Frank Zappa was part the band “Mothers of Invention” in the late 1960s. Once they came on stage at a NewYorkCity hip music venue, sat down together on stage with their backs to the audience & quietly joked around amongst themselves.

The Mothers kept this up for so long that the audience became restless. In time paying customers got vocal & some called out yelling toward the stage.

Eventually Zappa got up, slowly walked to the stage microphone and addressed the crowd. Quote: “Brings out the hostility in you, doesn’t it !”

Pamela Matlack-Klein
Reply to  B Clarke
September 14, 2021 11:58 am

They are a bunch of sheep following the leader. None of them understand what they are doing and how dangerous it is for the US, all they understand is that it gets them votes to say, “No more Fossil Fuels!”

None of them ever mentions what is going to replace fossil fuels because they don’t know, none of them have thought past the fixe idee of stopping climate change and saving the planet. What a bunch of ignoramuses.

Last edited 8 days ago by Pamela Matlack-Klein
William Astley
Reply to  B Clarke
September 14, 2021 12:20 pm

Biden/Obama stopped the Canadian new Keystone pipeline which would have given the US guaranteed access and the ability to respond to a say hurricane destruction of the east coast of the US or due to a war in the middle east.

The three Canadian Athabasca heavy oil deposits (60 to 80 meters thick, three deposit cover an area, roughly the same as the UK) in the province of Alberta has sufficient oil using the new Cenvus recover method, to supply all of the US energy needs for 80 years.

The Canadian/US free trade agreement has a clause that in it… That in the event of a an oil shortage (like a war in the middle east)… Canada cannot reduce oil exports to the US.

B Clarke
Reply to  William Astley
September 14, 2021 12:27 pm

So no pipe line no oil, was the trade agreement in regards to the oil clause written out?
Or is it a hollow trade agreement regarding the oil now that the pipe line stopped?

Tom Abbott
Reply to  B Clarke
September 14, 2021 5:27 pm

“Is every democrate on board with this ,do they understand how vulnerable America is going to become?”

Democrats, being totally self-absorbed, are not mentally capable of defending the United States, or of confronting dictators. We just saw a good example of this with the debacle in Afghanistan. Expect similar results on the national security scene in the future if Democrats are in charge.

We, and our personal freedoms, are in great danger when Democrats are running the show. As can be seen by current events.

ResourceGuy
September 14, 2021 10:22 am

Worse than that is the silly allowance/incentive for carbon capture in place of more productive projects for investors and the tax base. It’s really the litmus test for net zero policy insanity.

September 14, 2021 10:33 am

Again… whenever the cost of energy goes up, it costs more to make, grow, transport, store everything and that cost increase is passed to the consumer. This prices increase therefore increases the taxes you pay for things you buy. You lose in many ways as the government from local to federal get more taxes.

Ron Long
Reply to  John Chism
September 14, 2021 10:39 am

I think you are correct, John, and increased taxes are only one way the CAGW scam is looking to redistribute wealth. The irony is that the economically compromised, who can least afford increased consumer costs and higher taxes, will be hit hardest by this nonsense, but go ahead and vote for the left anyway.

Joao Martins
Reply to  Ron Long
September 14, 2021 1:19 pm

You touched a very interesting but usually obfuscated point of the subject.

Usually, to those thinking as social-democrats, “redistribution” would be a (fiscal or otherwise) means to make the poorest benefit a little more from the bulk of the richess produced by reducing the part earned by those that have higher income.

Actually, what we see in the plans of the current US rulers (ans EU rulers; and rulers in other geographies) is what you described: another taxation that will be imposed to the poorest — just the oposite of what “redistribution” should mean.

Then, we may ask: where does that money go? My simplistic answer is, “to financial speculation”; that is to say, a kind of virtual capital (re)producing more capital. We have seen that before (sub-primes, etc.); but now, with climate, the “colaterals” are not even the old wooden cabins falling in pieces: they are something as immaterial as “a better future”…

sendergreen
September 14, 2021 10:43 am

Yes even at the risk of repetition, Biden is not planning or directing. He has a mid stage of dementia, and “handlers” of the Democratic Party that are unknown to the voters are the actual executives. America has a “Shadow Presidency”. Even in the mass murderous Soviet Union, and National Socialist Germany everyone knew who “The Boss” was before Stalin’s Death, and Hitler’s suicide.

I think Biden is on some state of the art meds to keep him where he is today. At some point when the Democrat leadership is ready with Stage Two, the meds will be withdraw and Biden will collapse like arm jello.

B Clarke
Reply to  sendergreen
September 14, 2021 10:55 am

Yes some time in 2022, the vic president has not been seen with Joe for a while, theres been two occasions i know of during a press briefing hes been cut of mid ramble by the white House,

This is all orchestrated, the biggest decit I’ve ever witnessed, blatant lies and manipulation.

SxyxS
Reply to  B Clarke
September 14, 2021 1:20 pm

He has been cut of 3 times .You probably missed the one today.
As soon as he goes mentally of the rails the puppeteers are pulling the Zombie back to the basement.

Dave Fair
Reply to  B Clarke
September 15, 2021 3:05 pm

Xiden will announce his intention not to run in 2024 after the 2022 elections. Just when he will do so is the only item up for speculation; everyone knows he will not run in 2024.

Burgher King
Reply to  sendergreen
September 14, 2021 1:05 pm

More likely than not, Biden’s resignation date is already carried on a master planning schedule somewhere, probably for early 2023 after the 2022 election cycle is finished. After he has departed the Oval Office, Harris can then finish out his remaining term as the replacement Ventriloquist Dummy in Chief (VDinC).

However, the schedule for his resignation might be moved up somewhat if he happens to suffer a vascular system collapse after having been asked an unexpected and very tough unscripted question in a news conference.

Dave
Reply to  Burgher King
September 14, 2021 3:04 pm

The last two Democratic presidents have been shadow presidents, and I suspect the next one will be, too. The really sad thing is that this shadow president seems incapable of following his handler’s advice.

Tom in Florida
September 14, 2021 10:57 am

Questions:
1) How do your operations contribute to climate change?
2) What are you doing to reduce greenhouse gas emissions?

Answers:
1) It doesn’t.
2) Nothing, see answer #1 above.

Last edited 8 days ago by Tom in Florida
Observer
Reply to  Tom in Florida
September 14, 2021 11:36 am

Requiring companies to account for any greenhouse gases emitted along
their supply chains and using their products is an incredibly burdensome
standard that will disproportionally affect domestic energy producers,
including the financial institutions that underwrite the sector. 

I think any politicians advocating this should lead by example – for at least a year – by calculating all the greenhouse gasses all their activities generate. Aned they should be obliged to produce a detailed breakdown of their workings-out so we can examine their claims.

Gerry
Reply to  Observer
September 14, 2021 1:08 pm

Do the SEC regulations require the accounting for the CO2 emissions of personnel involved in the production and distribution of oil and gas as well? For Gods sake, the personnel are walking CO2 production machines. At least these days, with a mask on, we rebreathe the CO2 to some extent. That gives me some comfort.

TonyG
Reply to  Observer
September 15, 2021 12:31 pm

I think any politicians advocating this should lead by example

That should apply to everything.

Gerry, England
Reply to  Tom in Florida
September 15, 2021 3:57 am

Tom, just what I was thinking. They seem perfectly good answers to the questions, admittedly not what they want but that is their problem.

Ronald Stein
September 14, 2021 11:03 am

Just electricity from breezes and sunshine will leave the world without a safety net to replace the lack of products and fuels manufactured from the fossil fuel that the world wants to eliminate.

old engineer
September 14, 2021 11:22 am

Just one question: Are any of the Biden Administration’s proposed actions even remotely constitutional?

stinkerp
Reply to  old engineer
September 14, 2021 12:38 pm

This one isn’t, like many others they’ve tried recently

R Terrell
Reply to  stinkerp
September 14, 2021 3:01 pm

Biden doesn’t care! He has the Executive Order, you know. With that, he can decide whats best for the entire country! Congress? Who needs that! Bosh! He can make any ‘law’ he wants and no one can say yea or nay about it! After all, he ‘won’ the election with 81 million votes, right?

AndyHce
Reply to  old engineer
September 14, 2021 12:42 pm

Declared emergencies override most limitations on federal power that were created via the Constitution, by general agreement of those in power. The country has been operating under an increasing burden of stacked emergencies declared and never brought to a close, since before WWII. Also, the 14th amendment gave Congress virtually unlimited power to created and pass any legislation their little minds can relate to Section 5, no matter how outrageous.

Gregory Woods
Reply to  old engineer
September 14, 2021 2:25 pm

They are treasonous…

TonyG
Reply to  old engineer
September 15, 2021 12:32 pm

Are any of the Biden Administration’s proposed actions even remotely constitutional?

Does it matter anymore?

fretslider
September 14, 2021 11:24 am

“Climate Disclosure”

It rained (again), today. (I’ll get my coat) 

“WUWT warned Biden’s attack on Fossil Fuel would slam consumers with higher gasoline pump prices.”

Wait till you get our prices! (roughly £6.28 or $8.68 per gallon)

“The move to strengthen climate-related disclosures by requiring companies to collect and disclose data on all indirect upstream and downstream greenhouse gas emissions that occur outside their core operations, including their supply chains, has long been foreshadowed by the SEC. Still, it represents the latest salvo in the Biden administration’s escalating war on America’s domestic oil and natural gas sector. “

The UK shadows the EU on many things, not least Carbon taxes. We left the EU on 31/01/2020 and now we’re back in step

“In December 2020, the government confirmed that it would implement a UK Emissions Trading System from 1 January 2021”

https://www.gov.uk/government/consultations/carbon-emissions-tax

That’s why coal is [artificially] phenomenally expensive. It’s the last resort. It’s also why gas has also leapt in price just in time for winter.

It seems there are a good many ways to skin a cat. Collecting data seems somewhat less drastic, but then, the US system is an unknown to me.

Last edited 8 days ago by fretslider
Chaswarnertoo
September 14, 2021 11:49 am

The CCP are really in charge. Dementia Joe’s insanity is showing.
The only dangerous climate change is glaciation. We could have nice warm weather

stinkerp
September 14, 2021 12:36 pm

Biden can propose anything he wants but Congress has to pass it. The Constitution only gives Congress the authority to make laws (ie.; “rules” and “regulations”). There is no existing law that gives Presidents authority to arbitrarily create regulations, though that hasn’t stopped some from trying. The Supreme Court will (hopefully) straighten him out.

markl
September 14, 2021 12:44 pm

Massive inflation, decreasing standard of living, and unemployment to follow. All part of the “plan”.

Thomas Gasloli
September 14, 2021 1:05 pm

Big Corp supported Biden’s election, so, if they get draconian regulations, tax increases, increased labor costs, etc., they are just getting what they paid for.👍

Dave Fair
Reply to  Thomas Gasloli
September 15, 2021 3:11 pm

Big Corp will simply pass the increased costs onto us, the consumers.

John Endicott
Reply to  Dave Fair
September 22, 2021 8:23 am

And if it helps stifle any upstart competition, Big Corp will be well pleased with itself.

Peta of Newark
September 14, 2021 1:11 pm

Have tried to add a pic of UK’s current energy mix.
Its quite interesting..

Esp that out of a CCGT capacity of 28GW, we’re only using 17

But what’s really interesting is that we’re burning 1.3GW of coal, 0.3GW of ‘oil’ and 0.7GW of mysterious ‘other’

The Saudi Arabia of Wind is generating 2.5GW = 7.5% of home consumption
Well. Done. Boris. for that resounding UK export success. Will I be seeing you tomorrow down the Camel Market, choosing which make/model of Battery Electric Dromedary (BED) ha ha ha for the delicate Princess Nutz to place her precious phat derrière upon.

Also the pumped hydro has been draining all evening and 4GW is coming via inter-connectors off the continent
Other Hydro is working to save the day (night now actually) at 0.3GW – no big surprise there – it’s rained all day.

Are gas prices really so tight…..

UK Energy 2053PM on 14 Sep 21.JPG
Last edited 8 days ago by Peta of Newark
griff
Reply to  Peta of Newark
September 14, 2021 1:21 pm
Redge
Reply to  griff
September 15, 2021 4:50 am

Try iamkate

Screenshot 2021-09-15 124347.jpg
Rich Lambert
September 14, 2021 1:29 pm

The SEC did something similar with the Conflict Minerals reporting requirements.

Serge Wright
September 14, 2021 1:59 pm

These are the kinds of regulations that are aimed at closing down business and industry or forcing them to relocate to another country where they can function without these punitive state enforced cost burdens.

John Bell
September 14, 2021 2:09 pm

The longer Biden in office, the higher the energy prices, the more everyone sees he needs to be replaced by THE DONALD ! Trump 2024

Gregory Woods
September 14, 2021 2:19 pm

If it seems counterintuitive, it is. It’s anti-American. 

I have said before that Biden is a traitor and his greenie New Deal are acts of treasons…

MarkW
Reply to  Gregory Woods
September 15, 2021 7:45 am

The Chairman of the Joint Chiefs of Staff General Milley, during the last days of the previous administration told all senior staffers that they were to not obey any orders from the White House until the had checked with him. Milley also called his counter part in the Chinese military to assure him that if the US was going to attack China, he (Milley) would give the Chinese a headsup so that they wouldn’t be surprised.
This is out and out treason, however the usual suspects are declaring Milley a hero.

https://www.foxnews.com/opinion/tucker-carlson-mark-milley-committed-treason

Tom Abbott
September 14, 2021 5:21 pm

From the article: “The Securities and Exchange Commission (SEC) is expected to roll out as soon as October expansive new regulations requiring public companies to disclose how their operations contribute to climate change and what they are doing to reduce greenhouse gas emissions.”

That’s an interesting queston. Yes, just how do these companies contribute to climate change, considering that there is no evidence that human-derived CO2 is causing any changes in the weather?

Stockholders will probably want to know how their companies figure into all this CO2 madness when it starts costing the companies money.

Where’s the evidence that anything a company is doing is making the climate worse? I would contend there is no such evidence, and if a company claims there is, then they might be committing fraud by lying to their stockholders about the situation. The SEC ought to be looking into that.

Rory Forbes
Reply to  Tom Abbott
September 14, 2021 6:39 pm

I would contend there is no such evidence, and if a company claims there is, then they might be committing fraud by lying to their stockholders about the situation. The SEC ought to be looking into that.

Spot on, Tom … it’s high time rationality is restored to commerce and law. Maybe a few big lawsuits challenging the purported CO2 causality ‘myth’ are in order to balance Themis’ scales. If judges are now expected to rule on matters of science, it’d be nice to give them some real science founded on logic rather than emotions, fraud and wishful thinking. It would be money well spent.

September 14, 2021 5:56 pm

GCMs calculate WV to be about that which would result in constant Relative Humidity with increasing temperature. This graph shows as the bottom trend line the calculation of WV for global average temperatures reported by HadCRUT4. The middle trend lines show the WV that would produce constant RH with increasing planet temperature trend. The top trend line is the measured WV as reported by NASA/RSS. The analysis resulting with all this, and more, is at https://watervaporandwarming.blogspot.com

TPW meas & calc H4 &5 29 RH thru Jan 2021 6.7 pc FB.jpg
Dave Fair
Reply to  Dan Pangburn
September 15, 2021 3:23 pm

Dan, I have no idea as to the message you are trying to impart.

Reply to  Dave Fair
September 16, 2021 1:36 pm

The graph and a lot more are explained at the link.
 
One of the main reasons that the Global Climate Models are wrong is that they do not use measured water vapor. Measured WV is about 31% more than calculated in GCMs and can explain all of the planet warming attributable to humanity.

Sara
September 15, 2021 5:03 am

So that means that gas at the pump will jump from $3.399 to $3.599 overnight, right? And then it will climb to $4.299 and before long, your gas tank will hold 5 gallons of gas instead of 8, because the engine will be more fuel efficient, right?

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