The United States is the world’s top producer of raw fossil fuels, but as companies increase their exports abroad and profits, some residents could face up to a 28% increase in the cost of heating their homes this winter.
in the cost of heating their homes this winter, thanks in part to high fuel prices globally and slightly colder forecasted temperatures.
That means domestic oil and gas that would have helped hold down prices at home less than a decade ago will be sent abroad as temperatures drop and the rising costs put U.S. consumers in a pinch. Nearly 30 percent of crude oil produced in the U.S. was exported in the first six months of 2022, more than double amount exported five years ago, according to Public Citizen’s analysis of U.S. Energy Information Administration data.
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