On Monday, February 7, 2014, a group of bi-partisan senators wrote to President Obama requesting additional federal assistance with the current propane shortage. The letter cites a recent Energy Information Administration (EIA) report which details that U.S. propane stocks are 24 million barrels lower than last year (a 44% decline). “As a result,” the letter states, “in many areas, residential and wholesale propane prices have doubled, or even tripled since October. Numerous factors, including extremely cold weather and transportation problems, have resulted in high usage, significant drawdowns, and low stocks. Now, more than twenty states have issued disaster declarations related to the propane shortage.” Furthermore, the senators plead that “[h]omes, businesses, and farms desperately need propane, and the shortage threatens the safety of families and the financial stability of farms and businesses.” They request that the federal government continue to provide or expand regulatory relief and assistance until propane stocks recover.
