Biden's war on fossil fuels is going to cost American consumers a fortune
Homeowners in the United States might be in for a costly winter.
Oil and natural gas prices continue to climb higher as supply struggles to keep up with demand, which will only increase as the temperatures begin to drop across the country and heaters begin to be switched on in houses.
The price of natural gas used to heat homes across the country and produce electricity has skyrocketed over the past year, growing by about 180%. The oil price has also significantly risen, with the cost of crude more than doubling since this time last year. As September comes to a close and fall gets into full swing, many consumers will start to feel the pinch.
Katie Tubb, a senior policy analyst for energy and environmental issues at the Heritage Foundation, told the Washington Examiner that it’s difficult to parse out the exact causes of the soaring energy prices, but supply and demand reign supreme.
Tubb pointed out that natural gas has increasingly become a more significant part of the U.S. electricity sector. She said that while state laws governing the energy sector vary, some in the country will undoubtedly feel the sting of the higher prices during the heating season, which begins on Oct. 1 and runs through the end of April.
“I haven’t seen any projections on these energy prices going down anytime soon, so I think it will be a concern for families going into the winter now,” she said, adding that the sticker shock will boil down to what state a person is in and what that state’s policies are as far as energy markets go.
David Rewcastle, a professor in the economics department at the University of New Haven, explained that it’s not just the U.S. experiencing higher energy prices. He said Europe is getting walloped even worse by the rising costs.
“Europe is facing a perfect storm,” he said.
The energy crunch in Europe is being caused by a massive supply shortage of natural gas after a colder and longer-than-expected winter last year. The problem was exacerbated by a summer that was less windy than anticipated, meaning that wind turbines didn’t generate as much energy as usual, and more natural gas had to be burned.
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You can thank the guy who is cancelling drilling on federally controlled sites and blocking pipelines for reducing the supply when it is needed the most. Biden's polices have exacerbated a problem caused by the climate change crowed and Big Green. Personally, I have been collecting firewood for the winter. My investment in a wood burning stove a few year ago has more than paid off.
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