Nah, we're going to need those Syracuse people retraind for the financial sector, so that they can hustle up new loans to pay for this:
Govt sees higher US winter natgas, electricity bills
Reuters, 10.07.03, 8:28 AM ET
WASHINGTON7 (Reuters) - U.S. consumers will see their natural gas bills rise 5 percent this winter from last year, while the cost of using heating oil will fall 8 percent, if winter temperatures are normal as forecast, the government said on Tuesday.
Still, consumers may be hit with spikes in the price of heating oil and other fuels if the weather turns colder than normal, even though heating fuel inventories are on track to reach normal levels, the Energy Information Administration predicted in its annual winter forecast.
"U.S. oil and gas markets remain tight, however, as indicated by relatively high prices for crude oil and natural gas, low stocks of crude oil domestically and relatively lower petroleum stocks throughout the industrialized countries," the EIA said.
U.S. refiners are expected to pay an average $27 a barrel for imported oil this winter, the agency said. OPEC's decision to cut its crude production "reduces the chances" for a build in U.S. oil stocks at the end of the year, according to the Energy Department's analytical arm.
The residential natural gas price should average $9.17 per thousand cubic feet this winter, up 9 percent from last year, while natural gas demand is forecast to fall 2 percent to an average 69.7 billion cubic feet per day, EIA said.
Heating oil demand is expected to decline 8 percent, but the retail price for heating oil is forecast to cost $1.33 a gallon, the same as last winter, the agency said.
Households that use electricity for heating will see their bills rise 2 percent, while those using propane can expect a drop of 3 percent, the government said.
EIA said it does not expect the government to tap the 2-million-barrel Northeast heating oil reserve this winter. |
