Living in America? Get ready for ‘Summer from Hell’ – power outages all over America and crazy electricity, fuel, and gas prices expected
The Biden administration is bringing the US closer not only to rising inflation, wage erosion and stock market crashes but also to a paralyzed energy economy with mass power outages and insane energy prices – do not say ‘we did not know’
The last thing consumers want to hear is about rising electricity prices in the summer against the backdrop of news of growing prospects for a rolling power outage in half of the United States.
Tight supplies of natural gas, fuel, and coal have raised electricity rates this year and the weather forecast for this coming summer predicts extreme heat. Bloomberg cites new data from Barclays Plc that says monthly electricity bills may be 40% higher than last year, and the U.S. Energy Information Administration also expects residential and retail electricity rates to rise the most at once since 2008.
Data from the U.S. Bureau of Statistics show that households in Miami, for example, spent about 38 percent more on energy in April than last year.
“Continued reliance on gas only prepares us for these burdensome and unnecessary tariff increases. This business model is unsustainable, and it hurts people,” said Natalia Brown of Catalyst Miami, a nonprofit consumer support group.
Aside from Miami, parts of Hawaii, Dallas, Minneapolis, Boston, Philadelphia, New York and San Francisco recorded the highest increases in retail electricity costs last month.
Barclays bank analyst Serenjoy Benerji said the average residential electricity bill was about $ 122 in April, and that the average bill would rise another $ 49 this summer due to soaring gas prices.
Indeed, consumers can not escape the inflationary storm that hints at an economic “summer of hell” in relation to peak petrol and diesel prices, soaring food prices, unreasonable house and car prices, and negative real wage growth.
Analyst Benerji went on to say that the inflation burden “falls disproportionately on low-income groups”.
In California itself, higher costs for electricity will cause consumers to pay on average 25% more this summer.
The price of Everything Costs And pushes consumers to the edge.
Many have exhausted the credit line and emptied critical savings to survive this terrible economic period that could quickly turn into a recession caused by the Federal Reserve due to aggressive interest rate hikes.
So there is now a combined risk of continued power outages from the Michigan area to the West Coast because of a tight power supply that may not be able to meet the insane demand, and at the same time an extraordinary rise in prices for the allotted electricity anyway.
Thanks to the Biden administration it seems that Americans could get a double dose of high inflation and power outages, similar to living in Venezuela.
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