The top energy stories this week include the effects of rising gas prices on our economy, what the U.S. government is doing about it, and renewable energy efforts across the nation.
Already frustrated and angry about high gasoline prices, many Americans are being hit by rapidly rising electricity bills, compounding inflation’s financial toll on people and businesses.
Ohio Governor Mike DeWine was applauded by CEA for moving one step closer to meeting community and business needs around climate change by signing House Bill 175 into law, which continues Ohio’s leadership in carbon mitigation and environmental stewardship as well as energy production. This new law will allow the state to apply for state control from the U.S. Environmental Protection Agency to sequester carbon dioxide safely.
A bipartisan group of at least a dozen U.S. senators met on Wednesday to review tax credits for clean energy initiatives, as a part of broader legislation to boost U.S. energy independence and address climate change, lawmakers said.
Want more energy news? Check out our top 5 favorite stories in energy below!
5De Blasio’s Ban on Natural Gas Hookups in New NYC Construction Intended to Help Environment Likely To Cause Higher Energy Bills
An analysis from the Consumer Energy Alliance found that NYC Mayor Deblasio’s stove gas ban is likely to hike energy bills, which eat up a disproportionate share of minorities’ income. The ban will also increase the likelihood of blackouts in minority communities—usually the first to lose power when energy is scarce—by straining the electric grid.
4Oil and Gas Leases on Federal Land Resume with Strings Attached
“We just keep seeing half-measures like this, and energy policy by soundbite,” says David Holt, president of the Consumer Energy Alliance. “While the administration is not offering any meaningful solutions that could bring down prices.” Holt tells KTRH there are “meaningful solutions” the administration could implement that would be effective.
3World Bank Projects Elevated Energy, Food Prices, Keeping Upward Pressure on Inflation
Global prices of fuel and food are forecast to rise sharply this year due to high gas prices caused by Russia’s invasion of Ukraine and future increases in global energy consumption, the World Bank said Tuesday, a sign higher commodity costs will continue to put upward pressure on inflation. The World Bank expects commodity prices to remain elevated for years to come, as the war in Ukraine alters how commodities are traded, produced and consumed around the world, per the Wall Street Journal.
2CEA Urges House Appropriations to Allocate Funding to Federal Offshore Leasing in FY 2023 Budget
Consumer Energy Alliance (CEA), the leading energy and environmental advocate for families and businesses, released the following statement urging House Appropriations to allocate funding to Federal offshore leasing in FY 2023 Budget as the House Appropriations Committee met today to discuss the Department of Interior’s budget for fiscal year 2023.
1Fried announces rule setting 100 percent renewable energy goal for Florida
In the wake of Fried announcing a new rule setting a 100 percent renewable energy goal for Florida, Kevin Doyle, Florida executive director of the Consumer Energy Alliance, said his group remains concerned with efforts “to create energy policy by soundbite.” “Overly simplistic blanket statements that propose to eliminate more than 75% of Florida’s energy will only make prices more volatile and increase the likelihood of future supply disruptions.”