Home heating oil

[bobs409]

You guys that use oil to heat your houses better start saving and quick! We just got a lock in price of $4.59 a gallon for the upcoming season! So hows $4,590 dollars to heat our house this winter sound? Last year, we paid $2,300. It's only DOUBLE what it was last year!

Needless to say, my new garage will probably never see any heat. Maybe I'll buy the cars a nice big blanket! Heck, I may be living under a blanket this year myself!

Sorry to bring this news. Just trying to prepare you.


Bob

 

[Ed51]

When I bought this house in 1996 it had an oil furnace. I filled up the tank once and I saw the writing on the wall that I had to change to a gas furnace at once.Up here in America's Dairyland natural gas has gone up since then but not like oil. My highest winter bill was $303 (includes electricity as well).
I still have about a 1/4 tank of oil,and if anyone wants it,come and get it! probably 60-80 gallons.You will have to pump it out through the fill pipe.

Bob,as one of our former presidents likes to say....."I feel your pain".

 

[dq409]

Bob, I feel your pain !
As you might know I drive a heating oil truck.

Or should I say did !!

Common practice is to be laid off every summer usually June through August then hired back in September for the next season and working a few days each month during the lay off to keep my medical bennies.
With the price so high I got laid off almost a month early this year due to lack of orders and now they are dropping my bennies and not sure if I will be called back at all.

The price of oil is killing this country !!!

 

[Ronnie Russell]

I use propane for heat. Last load I recieved was $2.50 a gallon. Can't even imagine what next winter will be like. Guess I will start a savings account right now for next winters propane. Things are surely getting bad.

 

[Toms63SSQB]

I have geothermal heat (fancy heat pump) and my electric bill goes up about $100 a month in the winter. The total electric and heat, includes AC for the year is around $2000. I have about 2200 sq ft of house.

 

[w ogden]

Here in the north east we are already getting very concerned about the upcoming season. Oil is at 4.56 today and no one is even talking about prebuy yet in our area. My friend has a heating company and has had for 20 years. He says it is a bet your business deal and wants out. I cut 25 cord of wood last summer with my brother and split it between us. Used 2 1/2 cord last year with a fireplace insert to agment the heating system. Only used 680 gallons for the house from Aug to now so at todays prices this is even expensive. We have people up here giving up their houses becasue they can't afford to heat them this year. This oil deal is a crisis for all of us and yet our great elected officials keep stubbing their toes while the public is falling further behind. I see that the lower caste is rioting in India...........may be we could be next!!:takethat:takethat

 

[oil4kids]

well heres the answer to the worlds energy problem but someone has to figure out what Stan Meyer patent is talking about


http://patft.uspto.gov/netacgi/nph-Parser?patentnumber=4936961

 

[oldskydog]

Home heating?..........What's that?

 

[No409]

4.65 a gallon in mass

I have electric heat in my house, along with a wood stove. When i bought it, everyone said i was nuts to keep the electric heat. my highest bill ever in the coldest month was $380. we turn down the rooms we are not in, and use the wood stove on the weekends.

i dont know what people are gonna start doing up here, its rediculus

 

[bobs409]

Oh, that's easy. I knew what he was talking about as soon as I read it.

Bob

well heres the answer to the worlds energy problem but someone has to figure out what Stan Meyer patent is talking about


http://patft.uspto.gov/netacgi/nph-Parser?patentnumber=4936961

 

[dq409]

There are two very easy solutions to the high oil prices,,,,,

1- Ban anyone from buying oil futures that does not produce oil/gas ie: oil companies only get to buy, not speculators’ !

2- Take oil out of the commodity markets. I think it was during the Nixon years that oil was brought into the market

 

[tripowerguy]

This is a bad subject to discuss rationally but with a cool head we can talk about it. There is no one thing driving up oil prices but a combination of things. One is as DQ said speculators, as was also said demand in fast growing nations of China and India and last but not the least is the lack of drilling in our own country. We have a wealth of oil in this country but due to environmentalist we have stopped all real drilling in this country. We could drill off shore and up in Alaska but we don't because the earth shoe people scream. We could build nuclear electic plants like France, Japan and China are doing. We could do as Brazil and be oil import free by using sugar cane and other renewable crops rather than corn to produce biofuels. It would take a combonation of all these things including making fuel from coal as the Germans did during WWII. There is no easy fix and we need to use all things at their maximum such as electrical, solar, biofuel, etc. We also need to know it is a war in which we must win to survive with our way off life hanging in the balance. The earth shoe people in their Volvos would have us go to being a 3rd world country because they see any use of earth's resources as a bad thing because they worship mother earth. We can keep a good enviornment and still use the resources. The oil companies want to make money and they know that oil is a finite item. If there is 40 years of oil left then they want to wait until 39 1/2 years have past before we find an alternative. That is just business as usual which means that we as a nation must insist that measures be taken to insure that reliable sources of energy come on line before our country sinks into 3rd world status. Energy will never be cheap again but we can work at making it so we can exist in a reasonable manner.Roy

 

[bobs409]

Why is it then that hurricane Katrina is when all this started? Around here, that is when gas shot up to $3.17 a gallon. It hasn't been lowered much since. Something is just not right here. It seems like the oil companies realized at that point just how much we are dependant and that we will "have" to pay any price.

I keep hearing China but has there been that much of a boom in the past few years? I'm not buying that one.

I often think back to 1998 when gas came down to .99 cents a gallon. That wasn't that long ago ya know. I guess there was no demand then? no1:

 

[dq409]

Why is it then that hurricane Katrina is when all this started? Around here, that is when gas shot up to $3.17 a gallon. It hasn't been lowered much since. Something is just not right here. It seems like the oil companies realized at that point just how much we are dependant and that we will "have" to pay any price.

I keep hearing China but has there been that much of a boom in the past few years? I'm not buying that one.

I often think back to 1998 when gas came down to .99 cents a gallon. That wasn't that long ago ya know. I guess there was no demand then? no1:

Sorry Roy,, but you have fallen for every lie they want you to believe !!

Bob is closer to the truth,,

From sources in the oil business we have a glut of gasoline in the world which should mean lower prices and the glut is getting bigger due to people cutting back on use!

Production is up and there is no shortage of crude!
Yes,, we could drill here and that would help in crude supply, build more refineries to help, but, there is not one good reason to explain the high prices other then greed.
Where it be the oil companies or wall street, that is where the blame should be pointed !!

as I said and the experts have said,,, these prices are driven by speculaters that are only in it for the big, fast, bucks !!

The oil executives have stated under oath to Congress that the price of a barrel of oil in todays market should be between $50 and $60 a barrel !!!

 

[oil4kids]

maybe if we didnt throw all of those moonshiners in jail we could have switched there production to gasahol instead of alky XXX

The good ol boys making alcohol for gas would have employed hundreds of americans, who would live better lives making a honest living instead of people across the ocean who want to kill us

I think the whole gas thing smells

 

[Old School]

Sorry Roy,, but you have fallen for every lie they want you to believe !!

Bob is closer to the truth,,

From sources in the oil business we have a glut of gasoline in the world which should mean lower prices and the glut is getting bigger due to people cutting back on use!

Production is up and there is no shortage of crude!
Yes,, we could drill here and that would help in crude supply, build more refineries to help, but, there is not one good reason to explain the high prices other then greed.
Where it be the oil companies or wall street, that is where the blame should be pointed !!

as I said and the experts have said,,, these prices are driven by speculaters that are only in it for the big, fast, bucks !!

The oil executives have stated under oath to Congress that the price of a barrel of oil in todays market should be between $50 and $60 a barrel !!!

Correct! It is not the oil companies or refiners setting the price of gas. It is the futures market. The oil companies make about 26 cents net profit on a gallon of gasoline. The refinery cost is about 45 cents.

The cost of pump gas is set by the cost of crude oil. We can thank the speculators bidding up oil futures contracts for the run up. The latest impact has been the public pension funds and hedge funds buying huge quantities of oil contracts and holding them for investment. In the past, they were held smaller investor short term and turned over and over sometimes several times in one day. This made them always available and pretty constant. The huge fund holdings are keeping them long term betting they will go even higher over time. This made a shortage of contracts and artificially inflates the market value of oil.

Lesson over…..

Bob: I can feel your pain.. While our winter heating costs are less than the cost of a tank of gasoline for my SUV, we get killed with summer cooling costs!! So it all works out…

Mick

 

[rstreet]

Does the futures oil market work similar to the corn commodities market. Years ago around here a group of local commodity investors had their contracts called and they had to pay up or receive the product. Dad would always tell me the story that they had to rent one of his railroad sidings :eek::eek:
If so I would love to know some investors if they get their call maybe our group could be in line.
robert

 

[Old School]

Does the futures oil market work similar to the corn commodities market. Years ago around here a group of local commodity investors had their contracts called and they had to pay up or receive the product. Dad would always tell me the story that they had to rent one of his railroad sidings :eek::eek:
If so I would love to know some investors if they get their call maybe our group could be in line.
robert

Yes, it is just like hog bellies or wheat. They drop a quarter in price and you get the call from your broker to pony up more money or they sell you out and you have lost everything... Crude oil has only been on the commodties market for a few years. They have figured a way to "game" the market like they did for electric power a few years ago..

 

[oil4kids]

release 25% of the strategic oil reserve, the price of crude will drop like a rock and the speculators will loose the shirts off there backs and hopefullly stay away from the oil market in the future- speculators are padding there pockets with your money and your jobs and for example now where are the GM workers supposed to go, on unemployment ? is the tip of the iceberg?

latest headlines


AP
GM closing 4 truck and SUV plants in North America
Tuesday June 3, 9:07 am ET
General Motors plans to close 4 truck and SUV plants in US, Canada Mexico


WILMINGTON, Del. (AP) -- General Motors is closing four truck and SUV plants in the U.S., Canada and Mexico as surging fuel prices hasten a dramatic shift to smaller vehicles.
CEO Rick Wagoner said Tuesday before the automaker's annual meeting in Delaware the plants to be closed are in Oshawa, Ontario; Moraine, Ohio; Janesville, Wis.; and Toluca, Mexico. He also said the iconic Hummer brand may be discontinued.

 

[tripowerguy]

I'm not saying the oil companies are not greedy. Every person is greedy to some degree. Competition is what keeps prices reasonable. Every business hates competition. Why are 690 heads and Wonder Bar radios at such a premium. Because they are controled by a few people. If there were 1 million 690 heads and Wonder Bar radios and 5 people owned them all do you think that the price would come down? No! There are 5 major oil companies left in the world, down from over 30 in 1965. Guess what they won't bring prices down because they don't have to. The only thing that will cause them to bring prices down is for competition to come in the picture. They buy out competition if they can just like Chevron bought out the battery company that made batteries for electric cars. Nissan wanted to make the same battery and Chevron sued but won't sell the battery either. I know some people say the government needs to stay out of business but power corrupts and absolute power corrupts absolutely. Money is power and when you have such a concentration of wealth it can not help but hurt competition. Business is amoral, if it were moral you wouldn't be talking to someone from New Delhi when you are wanting your refigerator fixed on warranty. If business were moral then they wouldn't lay off 700 workers and move their production to China. All of these things such as oil prices and jobs come under some kind of control either the power of money or rules set down by government. Teddy R. was the first president to see that a huge concentration of wealth stopped competition. John D. R. also used wealth to run gasoline stations out of business so he could have it all. I know what I am saying is somewhat simplistic but in the overall scheme of things wealth always rules and the oil companies certainly have accumilated a lot of wealth.Roy