Lower Gas, Heating Oil and Electricity Costs in New Hampshire

By Jim on December 2nd, 2008

Declining oil prices are leading to lower gas and heating oil costs and limiting the rate of electricity increases.

Crude oil dropped to below $50 per barrel on Monday, and Public Service Co. of New Hampshire said that because of the continued decline in the price of oil, next year’s rate increase will be lower than expected.PSNH will make its rate increase public on Tuesday. It is expected to be less than the 8 to 10 percent that was predicted.

This seems to have come just in time for the winter heating season. It’s the way things should be. Energy should be plentiful and cheap. It’s good for our economy. Are you listening President-Elect Obama? If you want a thriving economy you better get going on stepping up drilling along with developing alternative energy sources.

Jay Ambrose wants to know if Obama, McCain, etc. will apologize for demagoguing the energy issue. Somehow I doubt it.

Apologize and do it now, Barack Obama, John McCain and all you members of Congress who ranted about Big Oil’s price-gouging and the way future-markets speculators were abusing the wallets of consumers at the gas pump.

Those prices have come down to the lowest level in almost four years, something like $2 a gallon on the average, and you know why — slackening demand caused chiefly by a worldwide economic downturn.

By the same token, you know or should have known why prices were recently as high as $4 a gallon — a vastly increasing demand caused by the phenomenal growth in China and India on top of the then-bustling economies of the United States and Europe and the fact that supply could not easily keep up with all of that.