Higher Utility Bills Will Be Seen This Winter; How's That Renewable Energy Working Out; Where's Algore? New Yankee Pitcher Should Have Been A Ranger

Higher utility bills being reported by USA Today:

First came the deep cold, then sharply higher heating bills.

Bone-chilling temperatures have rattled consumers across the nation since mid-December. Bitter cold is likely to linger over the Northeast and Midwest, and unseasonably low temperatures are forecast for the Southeast, so millions of consumers who've seen skyrocketing utility bills are likely to see another spike in January and February.

The Energy Information Administration predicted that more than 90% of the nation's 116 million homes would have higher heating bills this winter, projecting rises of 2% (for those heating with electricity) to 13% (natural gas). Homes heated with propane were expected to spend 9% more than last year, while those using heating oil were expected to get a 2% price break

Those estimates came in October, before two-decade-low temperatures, rising demand and lower energy stockpiles gripped much of the nation. Revised EIA estimates from earlier this month peg some home heating bills rising as much as 23.5% in the Midwest. But even those estimates may be too low.

This winter isn't even as bad as previous winters. Algore tells us this is the warmest year on record, or maybe the 4th warmest year, or maybe the 7th or the 14th. Whatever one wants to believe. Oh, I see I'm wrong. USA Today says "we" are seeing "two-decade-low temperatures. That's right, I forgot. Global warming stopped 18 years ago. Whatever.

By the way, the propane shortage was man-made. Mainstream media is not mentioning the Cochin pipeline.

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Should have been a Ranger.

ATR is reporting: new New York Yankee pitcher will pay half of $155 million in taxes to various governments.

However sweet this $155 million dollar deal seems, the reality is that Tanaka will lose almost $90 million over the 7-year life of his contract with the Yankees

As reported by ESPN, the New York Yankees have signed Masahiro Tanaka to a 7-year contract worth $155 million, earning an estimated $22.1 million per year. According to ESPN, Tanaka's contract is the largest ever for an international free agent and the fifth-largest deal for a pitcher. However sweet this $155 million dollar deal seems, the reality is that Tanaka will lose almost $90 million over the 7-year life of his contract with the Yankees.

In addition to the Yankees, Tanaka was also being courted by the Arizona Diamondbacks and the Chicago Cubs. Unlike New York City, the cities of Phoenix and Chicago do not impose a city income tax. Had Tanaka chosen a contract with the Diamondbacks or the Cubs, he would have saved almost $12 million over the life of his contract. Instead, Tanaka chose New York, where the state and local rates are some of the highest in the country. By choosing to sign with the Yankees, Tanaka automatically forfeited almost $12 million in taxes that would have been saved had he signed with the Cubs or Diamondbacks.

Tanaka will pay a combined marginal income tax rate of 56.1 percent - over half of his contract.

And then there's the utility bills to heat his McMansion during the New York winters.

There's a reason some San Antonio Spurs don't leave the team.