Brian Sullivan on energy inflation
From Brian Sullivan's RBI: Energy inflation's impact on home heating costs · · CNBC Television
“This is a real crisis for many families even with some additional government support.”
On , Brian Sullivan, Executive Director of Investor Relations & Assistant Treasurer at SEALED AIR CORP, spoke about energy inflation during Brian Sullivan's RBI: Energy inflation's impact on home heating costs on CNBC Television.
About Brian Sullivan
In a September 2023 segment on CNBC's Worldwide Exchange, Brian Sullivan discussed the impact of rising energy prices on home heating costs. He stated that energy costs would be "one big reason why it's going to be a little bit tougher for some families this year" and that "just heating your home is going to hit many families' wallets in a big way." Sullivan cited federal government data indicating that heating costs were projected to rise across all forms of power, with electricity up 11 percent, natural gas up 25 percent, and heating oil up 45 percent compared to the previous year. He noted that these increases were "on top of price increases last year in many areas as well." Sullivan described the situation as "a real crisis for many families even with some additional government support." He referenced a CNN story about working-class families in Philadelphia whose heating costs had soared, with some paying over $1,000 to fill their heating oil tanks. Sullivan quoted one family who said their home "feels like an igloo" because they were keeping the heat low to make their oil last through winter. He expressed hope for a mild winter, stating, "Let us hope this winter is a very mild one because the colder it is, the worse it may be for many families that are already struggling."