Why California candle supply is growing up to 60% more expensive
The cost of a 1.5-liter, 60-calorie candle rose to $2,800, nearly double the cost of the same supply house in 2018, according to data compiled by Bloomberg New Energy Finance.
The data comes from an analysis of the supply-chain costs of major energy companies, including ConocoPhillips, Occidental Petroleum, and Marathon Oil.
The companies’ share of the $6.6 trillion annual energy market is $2.3 trillion, so they are one of the largest producers of petroleum products in the country.
The bulk of the energy supply comes from natural gas, which is the most expensive energy fuel in the United States.
But as the industry’s share of overall energy production has grown, so has the price of natural gas.
At the same time, natural gas prices have plummeted, and the supply glut has made it harder to get gas at prices competitive with coal.
At this rate, supply-chains will soon have to cut their losses and close the doors to gas-fired plants.