According to the National Energy Assistance Directors Association, twenty million households in America — one out six — cannot afford to pay their energy bills. Americans are already struggling with high food prices, runaway inflation, and rising interest rates on revolving loans. This is the latest financial crisis.
Due to the rising cost of natural gas, electricity prices have risen. MoneyWise reports that natural gas is the largest source of electricity generation in America, according to the Energy Information Administration.
Natural gas was $4.31 per metric Million British Thermal Unit a year ago. It’s now at $9.34 per MMBtu.
According to the Bureau of Labor Statistics, July electricity prices rose 15.2% compared to a year earlier. This is the largest 12-month increase since 2006.
It seems that the good old days of cheap and plentiful energy seem like a distant memory. This is in contrast to the fact that it has been less than two years since Democrats took the White House from Donald Trump and his pro-American, pro-efficiency policies. The Leftists hold a firm grip on their green energy dreams and will continue to drag us down this path no matter what the consequences.
There are many consequences. Bloomberg was told by the National Energy Assistance Directors Association that this crisis is the worst they have ever seen. Jean Su, a senior lawyer at the Center for Biological Diversity, said that they expect a tsunami to hit. People who heat their homes using electricity but can’t pay the utility bill will find themselves in serious financial trouble.
Europe will be hit even more this winter. Recently, a colleague of mine wrote:
The green embrace is starting to pay its dividends in Europe, and it’s not looking good. This enviro-religious passion combined with the energy scarcity Russia’s invasion of Ukraine has caused has created a dystopic environment and dire predictions for Europeans.
CNN reports that Germany will lose 2.5% of its GDP to help its citizens pay their heating bills. England, however, will spend $115 Billion. This is nearly three times the amount it spent on its “pandemic Furlough Scheme,” in which the government subsidized workers’ salaries to avoid mass layoffs.
Joe Biden, the “President,” warned Americans that if they didn’t get a novel injection, they would be subject to a “winter full of severe illness and death.” But that was not the case. A year later, many are still looking at the prospect of a dark, cold winter. This time it was totally preventable.
