Americans should expect to pay higher costs to heat their homes this winter, Energy Secretary Jennifer Granholm said -- a result of high gas prices caused by the coronavirus pandemic.
"This is going to happen. It will be -- it will be more expensive this year than last year," Granholm told CNN's Dana Bash on"State of the Union.""We are in a slightly beneficial position, well certainly relative to Europe, because their choke hold of natural gas is very significant. ... But we have the same problem in fuels that the supply chains have, which is that the oil and gas companies are not flipping the switch as quickly as the demand requires.
White House says OPEC and Russia are putting the global recovery at riskShe also told Bash that Biden is focused on both"immediate-term and the long-term" solutions, including investing in clean energy that he hopes will alleviate the issue.Natural gas futures have risen to 132% so far this year and industry experts have warned it, along with retail prices, could go higher if it's a very cold winter, causing Americans to use more heat.
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