HOUSTON — Why could it cost more to stay cool this summer?
Power generators rely on natural gas to produce electricity. And in some spots in the U.S. it has gotten warmer earlier. That has led to people to turn on air conditioners earlier, increasing the energy demand and the demand for natural gas.
The Russian invasion of Ukraine is not helping either. Many countries in Europe are looking for alternatives to Russian energy.
The United States is helping by sending liquified natural gas across the pond. That means less natural gas in the U.S. is being put in storage for winter.
According to the Wall Street Journal, without that backup supply, energy prices could soar.
That’s not just bad news for homeowners who want to stay cool in the summer and warm in the winter. Natural gas is also used at many of the manufacturing plants in the country.
That could mean it will be more expensive to manufacturer goods, adding more fuel to inflation.