With Americans paying the highest energy costs in 25 years, a new report from Bloomberg paints a grim picture for the Northeast, as a worst-case scenario would mean the region could simply not have enough fuel to keep the lights on in homes and on Main Street.
“Heating oil delivered to New York is the priciest ever. Retailers in Connecticut are rationing it to prevent panic buying. New England’s stockpiles of diesel and heating oil — the same product, taxed differently — are a third of normal levels. Natural gas inventories are also below average. A Massachusetts-based utility is imploring President Joe Biden to prepare emergency measures to prevent a gas shortage.”
Unfortunately for these American families, President Biden has promised “no more drilling,” which will only exacerbate the energy crisis Democrats have worsened.
In order to stay warm this winter, American families will pay enormous energy bills amid 40-year high inflation.
- Families who heat their home with natural gas will pay $1,094, up more than 20 percent from last year.
- Families who heat their home with oil (typically in the Northeast region) will suffer even more, with an average bill of $2,354.
- Families who rely on propane to heat their home will spend about $1,970.
Low-income consumers will suffer the most.
- As Bloomberg reports: “‘Some of the most at-risk people of suffering when heating fuel runs out are immigrants and refugees,’ said Jeffrey Thielman, president of the nonprofit International Institute of New England. ‘We are very concerned about the coming winter.’”
Democrats’ war on American-made energy couldn’t come at a worse time.
- Democrats’ $25 billion in energy tax hikes will slash U.S. energy production and raise costs for families, according to analysis from the nonpartisan Congressional Budget Office (CBO).
- Prices at the pump will also go higher as the $12 billion superfund tax hike gets passed along to drivers.
Americans are already struggling to make ends meet in Biden’s cruel economy.
- More than half of American workers’ paychecks have fallen behind – the highest share of workers since 2011, the last time President Biden was in the White House.
- Soaring energy prices are hurting lower- and middle-income families the most, disproportionately hurting those making $50,000 or less. These working families have to choose between heating their homes and buying essentials.
- Nearly 20 percent of American households have made a late payment on their energy bills, or missed paying altogether, according to a report from Bank of America.
Bottom Line: Americans are facing an energy crisis made worse by Democrats’ Green New Deal energy policies and crippling tax hikes. It’s time to unleash U.S. energy independence.