The report shows that for the poorest families which have an after-tax income level less than 10 thousand dollars will spend 46% of their take-home pay on energy expenses. This is compared to only 26% in 1997.
53% of Americans who earn less than 50 thousand dollars will spend 18% of their take-home pay on energy expenses. This is nearly double the costs in 1997.
The study was completed by Gene Trisko, an attorney and economist for an organization named Americans for Balanced Energy Choices.
Gasoline makes up for the greatest increase in expense. The average cost of a gallon of gas has increased 88% since 2001.
The study reports that Americans will spend an estimated amount of over $2,900 per family (Families earning between $10 - $50 thousand,) or 6% of after tax income on gasoline in 2007.
Residential energy expenses will take 10% of take home pay for families earning between $10 and $50 thousand. These energy costs have increased 50% overall.
Between 1997 and 2007, here are estimated increases for different types of household energy costs:
Natural Gas: Up 64% (1997- $579, 2007 - $949)
Propane Gas: Up 76% (1997 - $500, 2007 - $903)
Electricity: Up 40% (1997 - $870, 2007- $1,215)
Fuel Oil: Up 96% (1997 - $714, 2007 - $1,402)
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