As winter approaches, American families face the highest prices for methane-based gas in years because exporters are sending more than ever overseas, the Wall Street Journal reports. “This is going to happen. It will be — it will be more expensive this year than last year,” Energy Secretary Jennifer Granholm told CNN Sunday. Fracking companies are extracting near-record amounts and are reluctant to drill new wells in order to give their shareholders higher returns. Exports via pipelines to Canada and Mexico, or LNG tankers to Europe and Asia are at an all-time high.
For American families this winter, this means home heating prices will likely be 54% higher for propane, 43% more for home heating oil, and 30% more for methane-based gas. Those with electric heat will likely see prices rise 6%. (Wall Street Journal $, CNN, Fox News, E&E $, Politico, New York Times $; Commentary: New Republic, Kate Aronoff column)