With energy prices soaring, Consumer Energy Alliance examined the impact shutting down critical energy infrastructure, like Line 5, would have on transportation fuels in Michigan and across the Midwest. Farmers Forum looked at how the $2.2 billion increase in gas and diesel would affect Michigan.
“Even using very conservative estimates, households, businesses, and governments will spend billions more for gasoline and diesel with the closure of Line 5,” according to the analysis prepared for the Consumer Energy Alliance (CEA), a U.S. non-profit consumer advocacy non-profit. “The economic pain of this welfare loss will be exacerbated by consumer prices currently rising at their fastest pace in more than 40 years,” the report says, “adding insult to economic injury” for those consumers.
Read more – Farmers Forum