Commentary
Many Americans are woefully unaware of the impending (and in Europe, already underway) spikes in energy prices and shortages of supply. Last month, it was reported that the United States has only 25 days’ worth of diesel fuel remaining—the lowest level in October since the Energy Department’s Energy Information Administration (EIA) began such reporting in 1982—while seasonal demand is the highest since 2007. Far less than needed is available and in transit to replace this existing stockpile when it’s exhausted, and some predict that supplies won’t return to normal levels until next summer at the earliest.
