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Here’s something of a mystery for all of you amateur sleuths out there. As has already been determined, America is experiencing a fossil fuels energy boom unlike any in living memory right now. Just yesterday, Erika ran down some of the numbers, with significant expansion being seen in domestic production of shale oil and natural gas. In the midst of all this plenty, you should all be kicking back and enjoying those sweet, lower energy bills, right?
Oddly enough… no.
In November, the Bureau of Labor Statistics’ Electricity Price Index hit 202.284, an all-time record and nearly 20% higher than just six years ago.
This might strike some as strange, given the private-sector shale-fracking boom going on in the Midwest, Northeast and Texas, which has led to soaring new domestic supplies of natural gas and oil.