The Cost Of Green: In the midst of an unparalleled energy boom, U.S. electricity prices have skyrocketed to new highs. This paradox is a result not of the free market, but of runaway government “green” regulation.
Unnoticed by virtually everyone except the sharp-eyed folks at CNSNews.com, new federal data show that electricity prices have never been higher.
In November, the Bureau of Labor Statistics’ Electricity Price Index hit 202.284, an all-time record and nearly 20% higher than just six years ago.
This might strike some as strange, given the private-sector shale-fracking boom going on in the Midwest, Northeast and Texas, which has led to soaring new domestic supplies of natural gas and oil.
According to the U.S. Energy Information Administration, as recently as 2008 the U.S. produced 2.1 billion cubic feet of natural gas per day. Today, it’s 12.3 billion cubic feet and growing fast — truly astounding growth.
Meanwhile, the U.S. is on the verge of producing more oil than it ever has, and domestic sources now outstrip foreign ones. Thanks to fracking, more’s on the way.
But as energy booms, electricity prices are going up.
Is it just another case of greedy energy companies and utilities sticking it to consumers? Hardly. You might hear that from your local Democratic politician, but it ain’t so.