New York Energy Disaster

Chris breaks down how New York's aggressive net-zero and electric-only policies are sending utility bills sky-high—electricity up 11.5% and gas by 13.3%, averaging $500 a month. Con Edison is forced into multi-billion-dollar infrastructure projects, like a $6 billion transmission line from Quebec, while the shutdown of nuclear power and bans on fracking leave residents and businesses paying the price. This serves as a stark warning about the long-term fallout of these leftist energy policies in the Empire State. www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
We got ourselves a New York energy disaster on our hands.
You can thank. You can thank the left, You can
thank the Democrats in Albany. You can thank Andrew Cuomo,
Kathy Holkl we go right on down the line. You
can thank for this con Edison, which is the energy
company that serves New York City and its suburbs. These

(00:38):
are the electricity hikes gas as well. We're going to
look at right now. Well, electric bills up by eleven
point five on average, gas up thirteen point three. Utility
bills in New York City and the surrounding areas are
going to average five hundred dollars a month. That's out

(01:00):
one hundred and fifty four dollars more than they were
five years ago. Con Edison they need the money because
they have to build out infrastructure. Why infrastructure, Well, again,
they basically said that all buildings have to be electric,

(01:20):
all new buildings, they have to be electric. Power building.
You got to go to electric heaters, you got okay,
gotta have electric stoves. Can't have gas or anything like that.
They banned gas hookups and new buildings in New York City. Okay,
so that's that's a bit problematic to they Again, you
and you've got to have all sorts of equipment grades
to strengthen the power grid if you're going to do

(01:41):
this renewables. This is hydro power. Mostly hydro power make
up about a third of New York's power generation. They
have a mandate in New York to achieve seventy percent
renewables by twenty thirty. Yeah, they wanted to have a

(02:06):
one hundred and seventy five mile transmission line from to
power New York City with wind in solar farms upstate.
But they had to get rid of that because it
was fricking stupid, because it was too damn expensive. Again,
you know, it's tough being right all the time here

(02:27):
on the program. They have another transmission line that they're
looking to run. I'm not making this up from Quebec.
What is the drive time from New York? No traffic
from New York to a Quebec. I don't know. What
is it too, maybe maybe eight hours, seven eight hours,

(02:51):
something like that. It's got to be close to that.
That's that's going to cost six billion dollars. You see,
New York had a nuclear power plant. They had a
nuclear power plant that worked just fine, any point nuclear

(03:12):
power which is fine, no problems whatsoever, Indian Point, and
they shut it down. He also banned Androcomo also banned
shale fracking. Uh vetoed any gas pipelines. Again, now the now,
the with all this net zero crap, they've gone in

(03:34):
the opposite direction because again a nuclear power plants, there's
no CO two. There's no CO two. And now when
it gets too cold or or it gets too hot
in the summer, they got to burn oil because they
can't because they don't build any pipelines. They can't bring
enough gas in from Pennsylvania because there's no pipelines. Again,

(04:00):
as sucks. You know, I'm sorry for the people who
live there and that are going to have to deal
with all this, but you voted for it, and again
people failed to understand, again, understand how this is going
to trickle down. Okay, you own a restaurant, you think
about it, you think about the electricity bills of restaurants.

(04:24):
Just think about it. You know you all the heat,
the air conditioned of summertime, you know, the gas cooking,
all that stuff, all the refrigerators out there. This is
just for the average house. Okay, over the past couple
of years, up one hundred and fifty warucks. So you
understand what it's going to be for a restaurant. Do
you understand they're going to price that into your food

(04:45):
or a business or a store, doesn't make any difference. Okay,
this this is again, Kenny. You want this, you want this,
It's all yours. You can have it. You know, It's
just again the stupidity knows no boundance Watchdog on Wall
Street dot Com