Gas & Energy
I came home for the weekend to find the price of premium gas approaching $5 per gallon. It is about 40 cents higher than in the DC area. Not only is the price of gas unlikely to stop there, but other energy prices are rising too. The price of natural gas has risen dramatically in the last few months. Natural gas provides almost all of our home heating in California as well as about 50% of our electricity generation. Remember the spikes in electricity prices back during the energy crisis of 2001? Well, there won’t be that big a jump this time, but there will be a jump in your electric bill and your heating bill soon. So it’s not just the price of gasoline which will be impacting your wallet.
So what is happening in Washington to try to deal with this new energy crisis? Nothing. House Democratic leadership has blocked a number of Republican sponsored bills from consideration on the floor, and the only bill they are pushing is a "windfall profits" tax increase on domestic oil production which they know is going nowhere in the Senate or with the president (and which would increase the price of gas rather than decrease it anyway). So there is literally… Read More