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The big news of the day is everything that transpired over the weekend around U.S. involvement in Iran. This is likely to disrupt the energy sector, particularly oil and gas, causing higher prices in the near term. This will create stress for Delaware businesses that rely on these products to power their operations, as well as for employees whose homes depend on these energy sources. And of course, it will affect everyone’s motor vehicles, both personal and commercial (especially companies with fleets).
To better understand where Delaware stands in terms of its energy needs, I went to the U.S. Energy Information Administration for details:
“Delaware's energy resources include solar, biomass, and wind energy. Although the state has no fossil fuel reserves, it does receive and refine crude oil. Delaware produces less total energy than any other state and uses less energy than all but three other states—Vermont, Rhode Island, and Hawaii. However, Delaware consumes almost 100 times more energy than it produces. Delaware's per capita energy consumption is near the national average due in part to the balance between its ocean-moderated climate, its service-based economy, and its energy-intensive manufacturing industries.” Read the full analysis >
It’s too early to tell what the long-term energy impacts will be for employers and employees, but a short-term bump in prices is likely.
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