STUART VARNEY: There is a price to be paid for getting rid of fossil fuels. It’s called inflation. And it’s happening now.
Natural gas is not exactly a sexy subject, but please, don't roll your eyes. Prices are rising and we're all going to feel it.
Nearly 40% of America’s electricity is produced from natural gas. When gas goes up, so does your electric bill.
And so does your home heating bill. Half the homes in this country use natural gas! And here comes fall and winter.
When he won the Oval Office, the first thing President Biden did was to kill the Keystone Pipeline: that was a natural gas pipeline so the Biden team, right from day one, interrupted supply. And you know what that does to the price!
New York State sits on top of a massive gas deposit. But we're not allowed to go get it. The Greens pressured former Gov. Cuomo to stop fracking. And you can't run natural gas pipelines through the state either: another restriction on supply!
What about oil: that nasty stuff the greens hate above all else. Same story: Biden takes a dim view of off-shore drilling and drilling on federal land. So, we now have to import oil, abandoning our energy independence. And you have to pay ever-higher prices to fill your tank.
Some of the energy price spike is the result of storm damage. That’s short-term. The damage will be fixed. But then what? We're back to energy prices based on supply and demand. That is restricted supply, strong demand, higher prices. Inflation!
Voters will have to decide if it’s worth it.