New Englanders need to wake up
Posted: Tue Nov 22, 2022 10:47 am
Households in the Northeast brace for costly heating bills. The Institute for Energy Research.
According to the Energy Information Administration (EIA), U.S. heating oil prices were 65 percent higher this October than they were in October of last year. Residential heating oil prices on average nationally rose to an annual high of $5.90 per gallon on November 7, 2022, because of tight inventories, low imports, and limited production capacity but fell to $5.79 per gallon on November 14—still 70 percent higher than a year ago. Only 4.1 percent of U.S. households use oil as their primary heating fuel, but in the Northeast, the percentage is much higher – 33 percent. In EIA’s November update of the Winter Fuels Outlook, households that use heating oil as their primary source of heating fuel are expected to spend 45 percent more on average for heating this winter compared with last winter because of higher retail heating oil prices and higher expected consumption. The average price is expected to be $5.14 per gallon—32 percent higher than last year. Biden has been pushing for more energy exports despite his continuing assaults on additional energy production here.
Household in the Northeast that burn natural gas for space heating will also have much higher utility bills this winter thanks to Democrats that block every attempt to build pipelines that could bring much cheaper Marcellus & Utica shale gas from Ohio and Pennsylvania to New England. New England must import LNG which is now 5X to 10X more expensive than U.S. natural gas.
According to the Energy Information Administration (EIA), U.S. heating oil prices were 65 percent higher this October than they were in October of last year. Residential heating oil prices on average nationally rose to an annual high of $5.90 per gallon on November 7, 2022, because of tight inventories, low imports, and limited production capacity but fell to $5.79 per gallon on November 14—still 70 percent higher than a year ago. Only 4.1 percent of U.S. households use oil as their primary heating fuel, but in the Northeast, the percentage is much higher – 33 percent. In EIA’s November update of the Winter Fuels Outlook, households that use heating oil as their primary source of heating fuel are expected to spend 45 percent more on average for heating this winter compared with last winter because of higher retail heating oil prices and higher expected consumption. The average price is expected to be $5.14 per gallon—32 percent higher than last year. Biden has been pushing for more energy exports despite his continuing assaults on additional energy production here.
Household in the Northeast that burn natural gas for space heating will also have much higher utility bills this winter thanks to Democrats that block every attempt to build pipelines that could bring much cheaper Marcellus & Utica shale gas from Ohio and Pennsylvania to New England. New England must import LNG which is now 5X to 10X more expensive than U.S. natural gas.