{"id":322921,"date":"2024-04-25T15:10:14","date_gmt":"2024-04-25T13:10:14","guid":{"rendered":"https:\/\/climatescience.press\/?p=322921"},"modified":"2024-04-25T15:10:16","modified_gmt":"2024-04-25T13:10:16","slug":"energy-prices-30-higher-under-biden-admin","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=322921","title":{"rendered":"Energy Prices 30% Higher Under Biden Admin"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

<\/p>\n\n\n\n

From ClimateRealism<\/a><\/p>\n\n\n\n

Guest Post by Andrew Terrell<\/strong><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Energy prices in the United States are wreaking havoc on budget-sensitive households, making it harder for families to save money or get ahead financially.<\/p>\n\n\n\n

Since President Joe Biden took office in January 2021, Americans\u2019 electricity bills have skyrocketed nearly 30%, or 13 times faster than in the previous seven years, according to a Wall Street Journal analysis<\/a> of the latest consumer price index data<\/a>.<\/p>\n\n\n\n

The data showed that the energy index rose by 1.1% in March following a 2.3% increase in February. The gasoline and electricity index also increased in March, climbing 1.7% and 0.9%, respectively. The U.S. Bureau of Labor Statistics (BLS) reports that the energy index jumped 2.1%, the gasoline index increased 1.3%, and the electricity index soared 5.0% annually.<\/p>\n\n\n\n

Despite the Federal Reserve holding interest rates steady since July 2023<\/a>, inflation continues to pose a problem for policymakers and households.<\/p>\n\n\n\n

\u201cThere is no improvement here, we\u2019re moving in the wrong direction,\u201d said<\/a> Bankrate chief financial analyst Greg McBride in an interview with Fox Business. \u201cThe usual trouble spots persist \u2014 shelter, motor vehicle insurance, maintenance, repairs, and service costs. Add electricity to that list, up 0.9% in March and 5% over the past year.\u201d<\/p>\n\n\n\n

Part of the reason for the surge in energy prices is due to the push to replace fossil fuels and nuclear power plants with renewable subsidies and green-energy mandates.<\/p>\n\n\n\n

Despite the Biden administration passing the Inflation Reduction Act<\/a> in 2022, the law has done little to lower energy prices. For example, the average cost of electricity has jumped from $0.136 per kilowatt hour in January 2021 to $0.174 per kilowatt hour in March 2024, a nearly 28%<\/a> increase, BLS data shows.<\/p>\n\n\n\n

The U.S. Energy Information Administration expects hotter summer temperatures this year, so the agency forecasts an annualized 4%<\/a> rise in residential electricity consumption. This means the average household\u2019s electricity bill will be much more expensive in 2024 than in 2023.<\/p>\n\n\n\n

Originally written by the\u00a0<\/em>Dallas Express<\/a>, republished with permission.<\/em><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Energy prices in the United States are wreaking havoc on budget-sensitive households, making it harder for families to save money or get ahead financially.<\/p>\n","protected":false},"author":121246920,"featured_media":322925,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","_crdt_document":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691818336,691824443,691819814,691818576],"class_list":{"0":"post-322921","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-uncategorized","8":"tag-biden-administration","9":"tag-electricity-bills","10":"tag-energy-prices-2","11":"tag-inflation-reduction-act","13":"fallback-thumbnail"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2024\/04\/2file-20230102-22-ce3hqt-1.webp?fit=1356%2C668&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1m0p","jetpack-related-posts":[{"id":424009,"url":"https:\/\/climatescience.press\/?p=424009","url_meta":{"origin":322921,"position":0},"title":"Poll finds New England women feel misled about climate","author":"uwe.roland.gross","date":"01\/31\/2026","format":false,"excerpt":"With Winter Storm Fern wreaking havoc across the country, New England women are worried about energy affordability. 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