A fuel supply crisis in New England has sent consumer utility bills soaring and threatens blackouts this winter — even as the United States exports record volumes of fuel to customers overseas.
New England’s woes are attributable to two factors: its lack of pipeline infrastructure, which prevents it from receiving supplies from other parts of the U.S., and a century-old law known as the Jones Act that limits the delivery of fuel from the rest of the country by ship.
Otherwise known as the Merchant Marine Act of 1920, the Jones Act requires that any cargo shipped between domestic ports be transported on a U.S.-built, U.S.-registered ship flying the U.S. flag and manned by a majority-U.S. crew. “You would think that charity would begin at home … that American fuel would go to American ports,” Joe Nolan, CEO of New England utility Eversource Energy, told the Financial Times in an interview. “We’re going to have to compete just like everybody else — in the global market.
The Jones Act and lack of natural gas pipeline infrastructure don’t bode well for the Northeast heading into winter. Already, utility bills have already soared in the region, where residents rely disproportionately on home heating oil and natural gas to warm their homes during winter compared to the rest of the U.S.
Natural gas prices have also soared. In Boston, prices for natural gas this winter have soared to nearly $30 per million British thermal units, or mmBtu, even as gas in other parts of the U.S. is trading at roughly one-fourth of that price.
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