Heating Costs Expected to Rise
Thursday, October 10, 2013
Though the nation is in the midst of a shale gas boom, home heating costs are expected to rise, according to the federal Energy Information Administration.
Ninety percent of homes are expected to have higher heating costs this winter, according to the report.
Higher projected prices for natural gas, propane and electricity could push the cost of heating a home higher, an additional $80 per household, an increase of 13 percent over last year.
What’s pushing prices higher?
FuelFix.com reports that an increase in natural gas transportation and industrial uses of the energy are responsible for pushing natural gas prices higher, despite higher production.
Read it:
“Electric power generation, heavy truck transportation and industrial projects on the Gulf Coast are all making significant shifts towards natural gas – a transition which will continue to push up the price of natural gas, said Pearce Hammond, managing director of Simmons and Co., speaking at a Global Energy Conference sponsored by Mayer Brown.”
Leave a Comment
Marcellus & Utica Shale Well Map
Additional Shale Maps
Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.