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The price of gas, which has increased rapidly over the past few months, will likely remain high and could go even higher as summer approaches.
One year ago, the average U.S. retail price of gas sat at just $1.94 per gallon, and as of last month, it hovered at about $2.90 per gallon, according to the U.S. Energy Information Administration. That rise is expected to stick around, experts say.
Nick Loris, an economist at the Heritage Foundation who focuses on energy and environmental policy, told the
Washington Examiner on Monday that the major factor in the gas-price equation is an increase in demand.
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President Joe Biden recently outlined his American Jobs Plan, a massive $2 trillion tax-and-spend proposal. Billed as an “infrastructure” and “jobs” plan, the proposal would include a variety of policies that would centralize more power in the federal government without creating jobs, nor much of what is traditionally considered infrastructure.REF
This
Backgrounder focuses on analysis of the tax portions of the proposal. President Biden’s tax proposal would:REF
Increase the corporate tax rate to 28 percent from the current 21 percent rate;
Enact a new 15 percent minimum tax on book income for large corporations;
Seek an international agreement to impose global minimum corporate taxes that would sacrifice American competitiveness in an attempt to create a cartel of high-tax countries around the world;
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THE BARGAIN: Labor groups of all stripes are lining up behind President
Joe Biden’s green infrastructure plans, as long he delivers on his promise to close the job quality gap between renewable energy and fossil fuel-related employment.
At an event with Sen.
Joe Manchin we wrote about in yesterday’s edition, the United Mine Workers of America said it was prepared to accept a transition away from fossil fuels if it came with financial aid for miners who lost their jobs, employment opportunities in renewable energy, and investment in carbon capture technology.
ENERGY EFFICIENCY: Biden plan would pump billions into home retrofits eenews.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eenews.net Daily Mail and Mail on Sunday newspapers.
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One company sees a business opportunity in the United States s reliance on China for rare earth elements, such as dysprosium, terbium, and yttrium, crucial for the proper functioning of night vision goggles and wind turbines, among scores of other kinds of important hardware.
There are 17 metals called rare earth elements, also referred to as REEs. China has dominated the rare earth market for years and accounts for about 80% of U.S. imports of rare earth metals and compounds. Demand for the metals is only growing as clean energy products such as wind turbines and electric cars, which use the metals, become more popular.