There’s a bromance going on between Donald Trump and Vladimir Putin. It’s bizarre and has all kinds of serious implications for national security, foreign policy, human rights, and more. The focus of this blog is about how their shared agenda would have us relapse into a deeper addiction to petroleum.
This heating season, not quite done, has been one for the record books. Huge amounts of snow, very cold weather, but also a big drop in oil prices compared to last year categorized the winter. And it’s been the best year for Mass Energy/People’s Power & Light Discount Heating Oil Service members in a long time. Compared to surveys conducted by the state energy offices in Massachusetts and Rhode Island, throughout this winter our members have paid 44 cents less than full-service dealer prices in Massachusetts and 35 cents less than full-service dealer prices in Rhode Island, after adjusting for heating degree days.
Over the weekend, we saw how political turmoil in Ukraine was followed by Russian military action. Today, we are seeing one result – sharply rising prices on the spot market for natural gas and oil. Heating oil has increased over 6 cents. Markets are responding as thousands of Russian troops solidified control over Crimea in the Ukraine. The U.S. warned Sunday that Moscow could face economic penalties unless it retreats.