Wait… Heating Bills Are About to Go Up By How Much?

Katie Pavlich, According to the U.S. Energy Information Administration, Americans can expect energy prices to skyrocket this winter and be more expensive than any season since 2007.

“In our October Short-Term Energy Outlook (STEO), we forecast that natural gas spot prices at the U.S. benchmark Henry Hub will average $5.67 per million British thermal units (MMBtu) between October and March, the highest winter price since 2007–2008. The increase in Henry Hub prices in recent months and in our forecast reflect below-average storage levels heading into the winter heating season and strong demand for U.S. liquefied natural gas (LNG), even though we’ve seen relatively slow growth in U.S. natural gas production,” the agency reports.

“The U.S. government said Wednesday it expects households to see their heating bills jump as much as 54% compared to last winter,” the Associated Press explains. “Nearly half the homes in the U.S. use natural gas for heat, and they could pay an average $746 this winter, 30% more than a year ago. Those in the Midwest could get particularly pinched, with bills up an estimated 49%, and this could be the most expensive winter for natural-gas heated homes since 2008-2009.”

During his first week in office, President Joe Biden banned new natural gas drilling and exploration on federal lands, limiting the supply available to Americans. After months of lost production and a lawsuit from affected states, the ban was struck down by a federal judge.

“This is a victory not only for the rule of law, but also for the thousands of workers who produce affordable energy for Americans,” Louisiana Attorney General Jeff Landry released in a June statement. “We appreciate that federal courts have once again recognized President Biden is completely outside his authority in his attempt to shut down oil and gas leases on federal lands.”

“Today’s injunction shows the power of our nation’s Republican attorneys general and their ability to halt harmful actions being handed down by the Biden Administration,” South Carolina Attorney General Alan Wilson added. “This is a victory for Americans who have seen gas prices double since President Biden took office, and the Biden Administration should take note before they try to implement policies through the back door.”

Meanwhile, President Biden announced a major wind initiative from the White House Thursday morning. He’s also been begging OPEC to produce more oil.

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