As we listen to Biden make promises during the 2024 campaign, it might be good to remember what his promises related to Bidenomics have led to since his last one.
For example, his infamous “Inflation Reduction Act” and his green energy policies have caused energy prices to skyrocket nearly 30 percent.
Since January 2021, electricity prices have soared 29.4% — 50% more than overall inflation — rising 13 times faster than the previous seven years, according to a Wall Street Journal analysis of Bureau of Labor Statistics data.Meanwhile, in those seven years before Biden took office, electricity prices rose just 5%.News of the astronomical increase in electricity came in the wake of March’s Consumer Price Index, which showed US inflation rose 3.5% in March.Wednesday’s data from the Bureau of Labor Statistics showed that on a monthly basis, price growth rose 0.4%, primarily driven by shelter and gasoline, which contributed to more than half of the advance.
Meanwhile, in California, Democratic legislators are beginning to regret the fee increases in energy prices they tacked on to their wealthy customers to fight “climate change.” Angry constituents are contacting them, upset with bills that have risen over 100% in the past 10 years.
A cadre of coastal Democrats is pushing to repeal a fee that would drive up utility bills for some middle- and high-income customers. Lawmakers ordered it up two years ago in part to cover the costs of adapting to climate change.“My constituents are pissed off,” Menlo Park Assemblymember Marc Berman said at a press conference this morning on Assemblymember Jacqui Irwin‘s AB 1999. “I know because they told me over and over again at every community coffee that I had in the fall and in the winter [that] their rates keep going up.”Berman voted for the fee in 2022. What’s changed?The support for Irwin’s proposal reflects the intensifying political pressure lawmakers face to do something about utility bills that have shot up by as much as 127 percent over the last decade.The bills incorporate climate-driven costs such as burying power lines to reduce wildfire risks and building out infrastructure that will be needed to electrify cars and homes to wean the state off carbon-emitting fossil fuels.
As the real driver behind the climate crisis is “Big Government,” the fact that their policies are now jeopardizing their political futures is karmic.
But Americans aren’t the only ones hurting from skyrocketing electric prices. Energy prices have also slammed residents of the United Kingdom hard due to poor energy policies.
British residents face fines if they want to go back to traditional methods of heating, like wood stoves. Eco-bureaucrats would prefer them to get loans.
The Environmental health manager said that support would be available such as grants and low-interest LOANS so that homeowners can improve insulation in their houses and get renewable energy.Really, people are being offered to take up a LOAN to insulate their house? In other words, that will costs people money.With this push for useless wind turbines, naturally energy prices are going to go up in price. Because it is really simple. When the wind doesn’t blow, there is no electricity being produced. Ironically, we need the correct weather for the wind turbines to work.
You might ask, “is there any place where energy prices going down?” Ohio…due to their reliance on efficient energy sources that are reliable and readily attainable.
Wholesale electricity rates in the regional market to which Ohio belongs fell “considerably” from 2022 to 2023 due to decreasing costs for natural gas and other fuels, Sarah Parrot, Ohio federal energy advocate, said at the April 3 meeting. It was the largest annual percent decrease since 2009, she said.“This is all very good news for SSO customers. As a result of the lower prices determined by market forces and the recent SSO auctions in Ohio, the SSO rates as of June 1 for the regulated electric utilities will be going down,” she said. “SSO customers will see this decrease in their bills starting this summer.”
CLICK HERE FOR FULL VERSION OF THIS STORY