“It is looking increasingly likely that the only cure for these high prices would be a recession, a devastating cure.”
(Mary Dowling – Independent Sentinel) Residential electricity rates have been surging for months and are poised to climb even higher this summer on a combination of tight supplies of natural gas and coal [thanks to Biden], an unrelenting drought in the Western US, and a nationwide forecast for extreme heat, according to Bloomberg.
Barclays Plc calculates that monthly bills will be more than 40% higher than last year’s, and projections from the US Energy Information Administration show this year’s retail residential rates rising the most since 2008.
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