BLACKOUT: Experts have issued an urgent warning about mass shutoffs.
The Schork Group principal Stephen Schork argues the U.S. needs a 'balanced approach' towards a green energy shift, warning it should include the 'responsible use of fossil fuels' or else inflation and slow economic growth will continue.
what is even more alarming is the surge in the collective amount owed, which sat at roughly $8.1 billion at the end of 2019 and has now skyrocketed to around $16 billion. The average delinquent bill climbed from $403 to $792.A primary driver behind the utility debt is a surge in energy prices. The cost of natural gas – used to power homes so folks can keep cool in the summer and warm in the winter – was up 30.5% year-over-year in July, according to the Labor Department.
New data shows a staggering number of Americans face having their utilities cut off due to soaring energy prices.shows inflation across the board remains near a 40-year high. While wages are also rising, the gains are not keeping up with price hikes eating away at Americans' paychecks – forcing more consumers to make tradeoffs and prioritize spending on necessities like groceries.
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