I'm delighted today that we're talking about energy. I think it's vital because I want to tell you something; if we don't get a lid on energy prices in America, there will be no level of government with a budget that will balance. The cost to heat our schools, the cost to heat our hospitals, the cost to do everything is going to explode. The cost to move goods and services is exploding. And it's about time, Americans. I had a young lady say to me last week, she said, Mr. Peterson, I make $320 a week. I used to spend $90 to drive to work, now I'm spending $140. How do I pay my bills? What she doesn't know is she heats her home with natural gas, and the natural gas that we're putting in the ground today for next winter's heating is $11.50. Last year, it was running between $6.50 and $7. She's looking at a 50 percent increase in home heating costs next year, which she cannot meet. Folks, the average working American is struggling to pay their bills because of energy costs. Our State governments, our county governments and our hospitals and our schools are going to take money away from the classroom to heat those facilities. If this Congress does not address the energy issue, we're going to collapse the economic viability of this country. Energy runs this country. We've had $2 gas and $10 oil most of our lifetime, with a few spikes in the seventies, eighties and nineties. Folks, we have $125 oil, $11.50 gas.
Editor's note · Context
Addressing the impact of rising energy prices on American families and government budgets.
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