Rising energy prices could push up inflation, damp consumer spending and ultimately slow the U.S. recovery, economists say
Crude oil has risen 64% this year to a seven-year high. Natural-gas prices have roughly doubled over the past six months to a seven-year high.
Heating oil has risen 68% this year. Prices at the pump are up nearly a dollar over the past 12 months to a national average just over $3 a gallon. Coal prices are at records.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gripped by energy crisis, Europe considers breaking climate promises and turning to coalThe price of natural gas in Europe has dramatically increased over the last year amid rising demand.
Read more »
Running short of coal, is India on the verge of an energy crisis?India’s coal shortage could lead to serious electricity interruptions across the country, as most of the country’s power plants run on coal
Read more »
UK working on support for energy-intensive industries, minister saysBritain is working out how to support energy-intensive industries hit by soaring gas prices, business minister Kwasi Kwarteng said on Sunday, describing the situation as critical but declining to say what action is being considered.
Read more »
Oil gains as energy demand rises; WTI tops $80Oil prices rose on Monday, extending multiweek gains, amid supply restraint from major producers and growing demand for fuels as economies try to recover from the coronavirus pandemic.
Read more »
Analysis: The energy crisis couldn't have come at a worse time for climateThe energy crisis couldn't have come at a worse time for climate | Analysis by CNN's Kara Fox
Read more »
As climate change deepens, Lake Mead and Lake Powell continue drying upLake Powell, the nation's second-largest reservoir, is about 30% full and dropping, a water level not seen since the reservoir was first filled when the Glen Canyon Dam blocked up the Colorado River in 1963.
Read more »