High Energy Prices to Increase Costs for America’s Commercial and Industrial Companies by $41 Billion in 2022, CEA Analysis Finds
WASHINGTON–(BUSINESS WIRE)–#affordableenergy–America’s businesses and manufacturers can expect to pay at least $41.4 billion more for business-related energy costs in 2022, according to analysis by Consumer Energy Alliance (CEA), the leading energy and environmental advocate for families and businesses.
“Driving Towards Disaster” analyzes data from the U.S. Energy Information Administration’s Short-Term Energy Outlook to determine the overall cost increase of electricity, natural gas and diesel fuel for American businesses and manufacturers.
“Federal policies have discouraged U.S. energy production, cancelled critical infrastructure, created inconsistent and confusing regulations, and, often, impractical solutions leading to unreliable and more harmful environmental energy delivery. These recent policy choices will leave American businesses and manufacturers to foot $41.4 billion more in energy costs next year,” CEA President David Holt said. “Many businesses are already reeling from inflation, higher energy costs, broken supply chains and a lack of workers, and this is yet another hardship they will likely need to overcome because of poorly conceived policies.”
“Unfortunately, as businesses spend more on energy and transportation, expenses will be passed on to the consumers purchasing household necessities from milk and eggs to cars and trucks. This comes as inflation reached a 39-year high and is likely to climb further.”
“Thankfully, commonsense energy policies can combat some of these financial hardships by lowering energy costs now and into the future, without slowing our steady progress toward a net-zero future. Rather than implementing short-term, nearsighted strategies – like tapping into the Strategic Petroleum Reserve or begging OPEC to increase supply – U.S. energy policy should include long-term measures to ensure energy affordability by encouraging investment in American energy resources; unfreezing access to natural gas resources managed by the federal government; and allowing for the safe, efficient transport of fuels through pipeline infrastructure.”
“As this analysis shows, domestic energy policies have real-world implications for America’s businesses, manufacturers, families and consumers. It is essential we have policies that rely on all of our energy resources to meet our energy and environmental needs; reduce the cost burden on businesses to keep them competitive; and help us achieve our net-zero goals.”
To read the full analysis, click here.
About Consumer Energy Alliance
Consumer Energy Alliance (CEA) is the leading voice for sensible energy and environmental policies for consumers, bringing together families, farmers, small businesses, distributors, producers, and manufacturers to support America’s environmentally sustainable energy future. With more than 550,000 members nationwide, we are committed to leading the nation’s dialogue around energy, its critical role in the economy, and how it supports the vital supply chains for the families and businesses that depend on them. CEA works daily to encourage communities across the nation to seek sensible, realistic, and environmentally responsible solutions to meet our nation’s energy needs.
Contacts
Bryson Hull
(202) 657-2855
bhull@consumerenergyalliance.org
