The energy headlines out of Europe for the last few months have all told a similar story: Supply disruptions – thanks to Putin's war on Ukraine – are driving prices through the roof. And higher prices threaten to push the European economy into recession.
For the most part, the U.S. – as a net energy exporter – has avoided Europe's heating problems. But that may be changing. According to The Wall Street Journal:
Americans should expect bigger home-heating bills compared with last winter, thanks to higher prices for natural gas, heating oil, propane and electricity as well as slightly colder weather, the U.S. Energy Information Administration said in its seasonal outlook.
Government energy specialists predict that it will cost $931 to warm the typical home that is heated with natural gas between this month and March. That is up 28% from a year earlier in nominal terms. If it gets colder than federal weather forecasters expect, heating bills could be 51% more than last year for homes with gas-fueled furnaces and boilers, which is nearly half of U.S. households. A 19% year-over-year jump is anticipated if it is a warm winter.
That's not exactly the kind of news homeowners want to hear going into winter. But before you rush out to buy an extra comforter, there's also this about rising domestic supply:
Between the gas that otherwise would have been shipped abroad [but wasn't owing to a facility shutdown] and domestic production that has lately notched daily records, the volumes pumped into U.S. storage facilities over the past month have been the biggest four-week build of the shale era, EIA data show.
Injections of gas into underground caves by traders hoping to sell the fuel for higher prices this winter have halved the deficit to normal inventories that pushed up prices in August.
“The biggest four-week build of the shale era.”
Those are the key words that make the real difference between the U.S. market and that of Europe. The U.S. position isn't assured – there are plenty of folks who want to turn off the gas today in order to prevent what they believe is an onrushing environmental apocalypse.
They are free to huddle together for warmth in the dark while the U.S. oil and gas sector keeps the lights and heat on around the world.
The opinions expressed in this article are those of the author and do not necessarily reflect the positions of American Liberty News.
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Will Midwest & NE suffer the most???
Can nothing be done to stop this madness? Biden’s war on energy is not only a war on Americans, but it is effecting the whole world. Insanity.
Yes only if we fire up our energy sources NOW
We put the globe into resection by stopping our oil protection
production
Biden made sure of that on his first day in office, he shut production down and thought nothing of it, it isn’t him that has to pay the sky high petro prices for his home or car, it’s us poor everyday people.
We just filled our fuel oil tanks two weeks ago. Thirteen hundred dollars, and they weren’t even empty! Thank the Lord, our carrier allows us to pay $150.00 every two weeks or we wouldn’t have been able to do it!
Putin’s war on the Ukraine? CNN much?
The US war on Russia is the story.
Maybe you should apply at CBC.
We can watch in real time Europe collapsing and mile long lines for gas after decades of their “Green New Deal” policies made them totally dependent on Russian gas and oil. What’s even more insane is that Biden and the Democrats just passed a 730 billion dollar Green Energy bill, laughably called the “Inflation Reduction Act” to institute all these proven failed policies here. It’s nothing but a Green New Deal slush fund that includes such stupidity as 60 billion dollars for “environmental justice”. And then there’s the four or five states that want to ban gas powered cars by 2030. Never mind that most all of the rare earth minerals for car batteries are mined in China or in Africa by child slave labor. Or that almost all of our solar panels come from China. Or that China is the worst polluting country in the world and is building coal fired plants as fast as they can and laughing at our idiocy and how we will continue to make them rich.
The Democrats and “Green” ideologues goal is simply to destroy the middle class in America and install the Democrats in power in perpetuity. That’s why all the massive corporations have gone “woke”. The Democrats promise to be “hands off” on their monopolies and supply them all the cheap labor they can dream of through our totally open border. As the middle class further collapses from inflation and ever increasing energy costs from “Green” mandates, Americans will beg for more Government help which always means more government control. The poor are already government dependent. Coup complete. Then there will be just two classes of people in the U.S.. The rich “elite” Democrat politicians and their crony capitalist oligarchs and the poor masses that will own nothing. Just like every other Socialist/Communist state in history.
Steve that was a perfect explanation of the situation USA is in. We need to “Take Back the House” NOW