Hot Squeeze

The record temperature across the U.S. this week will result in a shocker for many homeowners: due to higher oil prices, both natural gas and electric rates are up this year and the extra cooling costs will hit many people's bottom line very hard. I was mildly surprised by our electric bill for last month. Imagine the bill for this month!

And since a car eats more gasoline to cool via AC rather than rolling down the window (our Volvo I use to commute to work has a broken AC so I have braved the hot Texas weather for the last 3 years or so), people's budget will be squeezed if not squished over the next few months: not only higher energy costs but also higher food bills (most/many fruits and veggies are trucked out of California if not imported from other countries), higher interest rates on credit cards and adjustable mortgage rates, to name a few variables.

Update: 7:30AM, California had record power usage yesterday. And more heat expected nation-wide for a while...

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