Do we need a crystal ball to see the future of energy prices in the USA?

The Chicago Tribune – AP article titled: Soaring utility prices alarm Europe, raise fears for winter reported the following:

“Analysts at S&P Global Platts say electricity prices have risen due to strong demand from places like data centers and electric cars, but above all because of the rise in the price of natural gas used in generating plants. Utility companies’ exposure to natural gas prices has increased as emissions-heavy coal plants have been retired, while utilities face higher costs for carbon allowances required by the European Union’s emissions trading system, which is aimed at reducing emissions of greenhouse gases.”

The Purpose of This Post

Is to relate an ancient wisdom proverb about the future of the USA energy prices without having a crystal ball.

King Solomon

Since no one knows the future, who can tell someone else what is to come? (Ecclesiastes 8:7)

  • Proverbs 15:22– “Without counsel plans fail, but with many advisers they succeed.” Also, Proverbs 15:32– “Whoever ignores instruction despises himself, but he who listens to reproof gains intelligence.” According to King Solomon, you can’t go it alone in this life and expect to be successful.

What’s My Point?

Illinois passed a law this week with set dates to close down existing coal plants, eliminate use of gas from heating, and to convert from gasoline powered to battery power cars and trucks,

While it is a noble endeavor to reduce carbon emissions to clean up the air, I question the wisdom of shutting down existing energy generation plants because once shut down, they cannot quickly be restored.

Although King Solomon is correct about no one being able to predict the future, he advised about fools who do not listen to counsel or becomes offended if he reproved.

My point is perhaps we should discern what is happening in Europe will occur in the USA in the futures.

In My Opinion

We do not need a crystal ball; we already know the costs of energy sources. What we do not know is how high the prices will rise in the future if we shut down known reliable energy source and methods of electric generation after the coal and gas electric generation plants are shut down and our energy consumption supply is not adequate for demands.

Perhaps it will be wise to discern if the costs to reduce carbon emissions from coal and gas will make better sense once we compare how high costs will rise when demand exceeds supply and there are no reliable alternatives available

You Decide

Do we need a crystal ball or perhaps just read the Chicago Tribune AP Yahoo article in the Source Links below?

Regards and goodwill blogging

Source Links

Chicago Tribune – AP _ Yahoo

https://news.yahoo.com/soaring-utility-bills-alarm-europe-141035058.html?fr=sycsrp_catchall

Previous Posts on the Illinois Plans for Coal and Gas Energy Plants