With the winter season only a few weeks away, Americans are facing the prospect of having to pay high heating costs in order to stay warm, something which many believe will add pressure on people who are already struggling with elevated inflation rates.
The NEADA estimates that the average cost of home heating will rise by 17.8 percent this winter compared to the last—jumping from $1,025 to $1,208. This will be the second straight year of a major price increase.
Between the winter seasons of 2020–21 and 2022–23, the cost of home energy is calculated to rise by 36 percent. Experts believe higher heating costs will put at risk older people with fixed incomes, those who are sick, and the very young.
In September, the NEADA sent a letter to congressional leaders seeking a supplemental increase of $5 billion for the Low Income Home Energy Assistance Program (LIHEAP) to help cover the higher cost of home heating and cooling.
The Northeast Situation
Households in the Northeast regions are expected to shoulder the highest energy bills in decades this coming winter.In New York, for example, heating-oil deliveries have hit their priciest-ever level. In New England, stockpiles of heating oil and diesel are only a third of the normal levels. In Connecticut, retailers are reportedly rationing heating oil.
Republicans have blamed the tight energy situation facing America on the policies of the Biden administration, including scrapping the Keystone pipeline, ending certain fuel subsidies, and doing away with a significant amount of new oil drilling leases.
The Republicans insist that Washington must focus on reimplementing the Trump administration’s energy independence policy.
Officials from the oil industry have also indicated that the Biden administration’s actions have created an environment that is discouraging new investments in oil technologies and refineries.