Skyrocketing fuel costs will lead to a winter of discontent

by James Bovard

“Natural gas prices have jumped more than 180 percent since September 2020, and that will spur increases in electricity costs. Home heating oil prices have jumped 115 percent over the past year. Fuel oil is up almost 60 percent from a year ago. The federal government forecast last month that home heating costs could rise 54 percent this winter — but heating costs could actually triple, according to some private forecasts. Biden promised to ‘do everything in our power to stabilize the supply chain,’ one factor in the rising prices. But regardless of the promises by White House aides, Biden has no magic wand to fix the problem. Biden’s unemployment pandemic bonuses paid people not to work, spurring labor force disruptions across the nation. Pervasive shortages of truck drivers and other occupations assure that the current problems will multiply.” (11/11/21)