Although electricity prices usually tend to increase alongside the temperature, this summer Americans could see their utility bills rise to record levels. The video below explains how climbing natural gas costs have made air conditioning more expensive than ever, a situation made worse by tangled supply chains and the war in Ukraine. 

Questions:

  1. How do rising natural gas prices impact utility costs for consumers?
  2. Do you think utility providers should invest more in renewable energy sources to reduce their Continue reading
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April 12, 2022

According to the Bureau of Labor Statistics, in March 2022 consumer prices rose by 8.5 percent compared to the same period last year, amounting to the largest increase since 1981. Not only must businesses contend with pandemic-related supply chain issues that have persisted for well over a year, but also Russia’s invasion of Ukraine has led to spiking fuel and food costs. As a result, inflation continues to rise alongside prices for essential goods like housing, groceries, and gasoline. Continue reading

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March 25, 2022

Anyone who’s had to fill up their car lately knows how the cost of gas has shot through the roof in recent weeks. According to the U.S. Energy Information Administration (EIA), the average price per gallon increased to $4.24 on Monday, the highest rate in more than four decades. Although the inflation-adjusted price does not quite reach the heights of the 1970s energy crisis, consumers must nevertheless deal with the largest month-to-month gas price increases on record. 

Some parts Continue reading

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Last week, hackers began a ransomware attack on the Colonial Pipeline, a major conduit that supplies nearly half of the East Coast’s oil. The hack completely shut down petroleum transportation as the Colonial Pipeline Company “proactively took certain systems offline to contain the threat, which has temporarily halted all pipeline operations, and affected some of our IT systems.” Although the company expects to have most of its capabilities returned by the end of the week, the shutdown has resulted in Continue reading

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April 17, 2020

With millions of cars off the road and thousands of airplanes sitting idle on tarmacs, oil consumption has plummeted since the start of the coronavirus pandemic. This has led to a drastic drop in petroleum prices that could have an enormous impact on the global economy in the months to come. This video looks at how trade tensions caused prices to fall before the Covid-19 crisis and how oil producing nations are now rethinking their priorities. 

Questions:

  1. How has Continue reading
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February 22, 2018

From keeping lodges toasty to powering chair lifts that must frequently scale mountains, ski resorts go through enormous amounts of energy during the winter months. Along with taking a toll on the environment, this heavy dependence on power can also be quite expensive. That’s why many ski resorts throughout the country are setting up their own utility systems to produce energy efficiently and sustainably.

Colorado’s Aspen Skiing Company, for instance, generates 24 million kilowatt hours of energy per year to Continue reading

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April 22, 2016

In recent years companies have been under increasing public pressure to ditch fossil fuels and switch to renewable energy sources like wind or solar power. Although this idea may be easy to accept from an ethical standpoint, the high costs associated with such a drastic change have sometimes prevented companies from taking action. This excuse isn’t as reliable as it used to be, however. In the past year renewable energy prices have fallen worldwide. As a result, more companies than Continue reading

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March 25, 2016

Gasoline prices are lower than they’ve been in decades, but this is far from unique. Throughout oil’s volatile history the commodity has experienced several surges and sharp declines in value. This short but informative video tracks some of the biggest petroleum price jumps over the last century.

Questions:

  1. Why does the price of oil change so frequently? 
  1. Should world governments invest more money into alternative energy sources in order to decrease their dependence on the unpredictable oil industry?
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November 18, 2014

Thanks to increased domestic production and a period of relative market stability, gas prices have been dropping across the country. Still, no matter how low the price at the pump goes, fueling up with compressed natural gas will almost always be a better value. Those who own a vehicle that can run on the alternative fuel pay an average of $1.70 less per gallon than those who use standard petroleum. Of course, not many people out there own a natural Continue reading

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