Any economically-literate person could have, would have, should have predicted that natural gas prices would begin to jump upward as Obama’s war on coal proceeds apace. Or didn’t anyone else recognize that our sudden, short-sighted tilt toward gas would have market impacts? These price hikes will likely accelerate when global economic conditions improve, still more coal plants are shuttered and the push for natural gas-powered vehicles gains ground.
We’ve all been warned against putting all our eggs in one basket. So why are we doing this in our all-important energy sector? This unwillingness to take the long view, and adopt a reality-based, truly “all-of-the-above” energy policy, is why the U.S. is destined to lurch from energy crisis to energy crisis, damaging the economy and screwing ratepayers as we veer erratically along our way.
Better not tear down those shuttered coal plants yet, guys. My guess is that public pressure to reopen them, retrofitted with clean coal technology, will begin to mount once the folly of energy fad-following really begins crushing ratepayers under higher bills.