Your heating bill may blow up this winter. Oil and Gas expert Kym Bolado says the inventory in the U.S. is the lowest since 2008 plus Hurricane Ida caused the loss of 30 million barrels in the Gulf. She says there are a few reasons for the surge in natural gas prices including low supply numbers. "Oil and gas companies are loosing a lot of barrels. And, of course there is a great demand for LNG and that's what we use to heat our homes, tool. The inventory is the lowest it has been in the U.S. since 2008. The stock-piling in Europe is also below average. When you add in that you're starting to see regulation in potential 'climate change' issues --- it's all going to be passed on to consumers."
Bolado says the possibility of the EPA adding on restrictions will also cause all energy prices to rise. "It is troubling that we're possibly getting the EPA expanding its their role on how it's going to try to regulate this industry when the Supreme Court never gave them permission to do this."
Through executive order, Biden has directed the EPA to boost requirements for the industry and Democrats are proposing new penalties on oil, gas, and coal companies and taxes on methane emissions 3 and a half trillion dollar spending bill. spending bill.
Hear In the Oil Patch with Kym Bolado Sunday nights here on KTRH.
photo: GettyImages
heating prices going upPhoto: Getty Images