Energy Prices Hit Americans On All Fronts

It might still be 80 degrees outside, but, four months before the first days of winter, many Americans are already facing the prospect of keeping warm while having to stay within their budgets. Instead of the short spike in energy prices that most expected, it now appears that a variety of high energy bills - for heating oil, propane, natural gas and electricity, as well as gasoline - will be around for a long while.

With energy costs rising substantially for a second year, and reaching another record on oil markets yesterday, how consumers and businesses respond this winter - whether they curb their energy consumption or not, whether they keep spending on other goods or not - will be critical as higher energy prices slowly ripple through the $11.7 trillion American economy.

(2005-08-27 18:45:31 SGT) [Energy] Permalink

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