Energy experts and advocates are warning the closures of coal and nuclear power plants can't keep up with electricity demand, predicting summer blackouts.
Joe Petrowski, former CEO of Cumberland Farms Gulf Oil Group, argues that West Texas Intermediate crude futures will trade over $150 a barrel by the end of the summer and the national average for gas will be over $6.
"It's going to make what’s happening in liquid fuels look like a speed bump in the shopping parking lot compared to what will happen in electricity," Petrowski further cautioned on the issue. "We’re shutting down coal plants, which I’m for," he continued. "We’re decommissioning nuclear because people just don’t want nuclear in their backyard, even though the French get 85 to 90% and natural gas is now $7, going to 10. So we are going to have a huge spike in electric prices."
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