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There is no cheap oil now days to even recover I US any more. just the cost to refine other than WTC sweet means huge cost in refinery upgrades. Most never realized that most US refineries have e been able to refine Sour crude lie Saudi crude until recently.US and Canadian crude is a game of increased cost to transport now; reduction I cost to refine because of doubling some refineries capacity while lowering cost by computerization meaning half number need as to employee to operate. That is also why we have seen refineries change hands so much since the mid7 0's embargo and higher price for mid east oil **** about energy independence not cheaper oil at cost to refine and to get to since the days when we moved offshore from land wells and rig drilling of sweet Texas crude of the past. Much of that was used up in WWII actually.
Large energy corps. have switched over to nat.gas and are using the excuse of updating their systems to raise price to consumers. Even though the cost of Nat. gas is much lower then coal (larger profit).
See the Duke Power request to NCRC for rate increase.
gas is cheaper than coal?!?!?!?! Get your head out of trhe oven man!!!! Price out of our coal plant this very second is 23.00 a MW...If gas was cheaper I'd have 160MWs of engines running !!!!
BLS shows the price at 8.1 in May, 1984. Adjusted for inflation that would be about 1.77, right now.
Why focus on details like 29 years of inflation when the objective is to " Blame the Obama" ?
The drop in electricity prices should be obvious just from all the air conditioners people have today. 30 years ago, few could afford to operate them. There is another factor at work in this too. "Liberal" policies have required ever more efficient appliances, so that while we use much more, we use and pay much less proportionately. In fact, energy is a very small part of the average American's budget today compared to 30 years ago. Progress is good. Going back is never the way forward.
Second, as already mentioned, directly comparing 1984 dollars to 2013 dollars is ridiculous. Once you factor in inflation, the rates aren't even in the same ballpark.
[ETA] After actually reading the article, looks like in 1984 it was only 8.4. Still, adjusted for inflation, that's far more than 13.1 in today's dollars.
Tesla pulled enough energy to power a small city from a single coil over 100 years ago.
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