“Buyer beware”
An educational article that dispels some myths about what protections consumers are entitled to in the areas of new car purchase, veterinary care, and heating oil contracts.
A more in-depth explanation of the "though luck" situations many heating oil consumers have found themselves in this season: locked in to a heating oil contract at a high price.
Read the article and learn your rights
Read Article Online“Bad Oil Warning”
An error at a Sunoco refining facility resulted in the contamination of thousands of gallons of heating oil last week. A sulfur compound that is added to propane to give it an odor was accidentally added to heating oil, which made for a nasty smell in a few Philly area heating oil customers' homes.
With so many petroleum products (heating oil, propane, gasoline) being made at the same plant, it is not surprising that some ingredients could get accidentally mixed together where they shouldn't.
“Wind farms lying fallow in hard times: Recession, oil prices undercutting costly green energy generators”
Perhaps the most tragic negative effect of plunging oil prices is the reduced interest and funding for new renewable energy projects. With crude oil and petroleum-based fuels available on the cheap, few profit-minded businesses see investment in new green energy sources as a wise decision. Furthermore, with banks holding back on credit extensions across the board, green energy projects can't even get seed money needed to get the ball rolling. Is the return of sky-high oil prices the only way to save renewable energy development? Hopefully not.
“In the war: Drop in oil prices a blow to Iraq economy”
As if Iraq didn't have enough problems already, sinking oil prices are putting a serious damper on Iraqi and American plans for reconstruction. The nation's ample reserves of crude oil were expected to bring in the bulk of revenue needed to rebuild the war-tattered landscape. Plunging oil prices have forced the government to slash the reconstruction budget by 40 percent, according to the Associated Press.
“New twist for Pickens in energy independence fight”
T. Boone Pickens, the oil billionaire and rising alternative energy mogul, added another tactic to his massive public relations push in favor of wind power and other alternative energy sources. Pickens plans to inform Americans on a regular basis as to how many American dollars are being sent overseas to buy crude.
Pickens's plans for developing huge wind farms in Texas and other parts of the Midwest have been delayed by declining investment and diminishing interest brought about by low oil and gasoline prices. The delay has done nothing to dampen his tireless promotion of his "Pickens Plan" for America to vastly reduce dependence on foreign oil.
I would certainly be more interesting in developing alternative energy sources if I knew how many dollars per minute were being sent to Middle Eastern oil producers...would you?
“Pickens's Windmills Tilt Against Market Realities”
Since last July, billionaire oilman T. Boone Pickens has been tirelessly promoting his "Pickens' Plan" to reduce U.S. foreign oil dependency by switching to a combination of wind and natural gas power. This WSJ article offers an interesting inside look at the financial and political obstacles Pickens is facing largely as a result of plunging oil prices. Pickens's PR blitz has made the issues of oil dependence and the need to upgrade the American power grid more visible to average Americans and members of Congress alike. However, it appears unlikely, at least for now, that the visibility of the issues will translate into legislation or other large-scale action.
“Energy-saving tips for homeowners”
A local story about a conservation-minded heating oil company called Supreme Energy, based in Weymouth, MA. The owners of the business, the Lamparelli family, have been advocating heat and energy conservation for the last 20 years. A nice profile of a service-oriented heating oil company that helps facilitate a positive image of its industry.
A second section of the article lists tips on how to save heating oil and electricity in the winter by the Lamarelli family. The tips aren't particularly new or revolutionary, but still provide great advice.
“Law firm locked in oil but won't pay, suit says”
An interesting version of the saga of heating oil customers angry with oil retailers over lock-in oil contracts at high prices out of Lisbon Falls, Maine. A heating oil dealer has sued a law firm for not fulfilling its end of a contract to purchase 4,055 gallons of heating oil at $4.36 per gallon. After purchasing the first delivery of 1,119 gallons of heating oil, the firm refused to purchase more oil at the set price, claiming that it never received signed approval of the agreement from the oil dealer. The dealer views the agreement as valid and filed suit against the law firm for breach of contract.
A judge and/or jury will decide if the technicality cited by the law firm will be sufficient to void the heating oil contract.
“Falling Oil Prices: Again, Blame Speculators”
As oil prices skyrocketed last summer, much blame was placed on speculators in the oil markets for inflating prices. Now, this BusinessWeek story reports, speculators can be blamed (or credited, depending on how you look at it) for oil prices hitting near-decade-lows. The article concedes that the recession was the factor that set off oil's decline, but explains that many noncommercial investors (investors who buy and sell for profit and have no intention of taking on the physical barrels of oil) are responsible for prices' long term trip to the gutter.
A simple and forthright explanation of how thousands of investors playing the market can lead to higher prices for crude and, in turn, higher prices for gasoline and heating oil.
“Invest in Clean Energy (opinion)”
Ted Turner makes the case for massive investment by private and government organizations in developing green energy technology. Tuner calls investment in solar and wind energy and electric ("plug-in") cars as "the investment of the 21st century." He cites United Nations Secretary General Ban Ki-moon's belief that investment in new green technologies could alleviate climate change and global poverty at the same time.
The most compelling aspect of his argument is his touting green technology as a smart business investment, considering his monumental success as an entrepreneur and investor.
“Gazprom shuts off gas links to Ukraine”
The Russian national natural gas corporation Gazprom has made good on its threats to cut off natural gas supplies to Ukraine. After the Ukranian government refused the $50-per-1,000 cubic feet price increase, the Russian government halted all natural gas shipments to former Soviet bloc nation. Although it is the height of the heating season in frigid Ukraine and the shutoff's ripple effects could touch Western Europe, reaction to the move has been muted. Ukrainian officials have assured that natural gas reserves are nearly full and hold enough fuel to last through the winter. Reserves in Western Europe are also full.
The event highlights the complex entanglement of economic and political interests between Russia and Ukraine, the two largest countries to rise from the ashes of the Soviet Union.
“No Furnaces but Heat Aplenty in ‘Passive Houses’”
Warm, cozy houses with no heater? Sounds impossible, but such houses already exist. Frankfurt, Germany has emerged as the pioneer in the design and construction of "passive houses" that use heat generated by people and appliances to maintain a comfortable interior temperature, even in the dead of winter. Such heating is made possible by an airtight seal around the entire house and a sophisticated heat-exchange system that transfers heat from exhaust air to outside air brought in for ventilation.
The technology is spreading rapidly in Germany, helped by the fact that passive houses only cost 5 to 7 percent more to build than traditional houses. A language barrier and other impediments have slowed the expansion of passive house development in the U.S., but the technology is poised to make a big splash in an increasingly energy-conscious American market.
“Russia keeps distance from OPEC”
After statements by Russian officials ahead of Wednesday's OPEC meeting hinted at the nation's intentions to cut production in collaboration with the cartel, the Kremlin took no action to reduce its output numbers. Overtures of Russia's pursuing membership also rang hollow after the OPEC summit, as the world's second-largest oil-producing nation took no steps to officially join the group. Willing to contribute words in an attempt to lift oil prices, Russia continues its history of independence in oil production and export. This article examines Russia's stance in relation to OPEC and also details its considerable influence in the less-volatile natural gas market.
“Don’t be fooled by low gas prices — the crunch is nearly here”
This Canadian opinion piece warns readers that the current climate of low-priced gasoline and heating oil is temporary, and that the "crunch" of high prices could return at any time without warning. The author makes a convincing and important argument, and supports it with the surprising conclusions reached last month by the International Energy Agency.
“Alaska Villages Scramble for Heating Oil”
Western Alaskans, the group of Americans most vulnerable to extreme winter weather, are finding it difficult to secure enough heating oil to last through the winter. Despite Alaska's status as the largest crude oil producer of the 50 states, "a state report released this week said during the past 12 months, fuel costs in western Alaska rose nearly 50 percent although oil and gasoline prices dropped nationwide." Faced with extreme weather that has prevented delivery of heating oil to the communities, leaders are looking into delivery by air that will by extremely costly. A surprising and unfortunate story of how residents of the coldest state in the Union are facing heating oil challenges, despite remarkably low prices everywhere else in America.
“Facing Economic Crisis, Santa Requests Bailout”
A funny, tongue-in-cheek imagining of how Santa Claus and the business he runs react to the global recession of 2008. Unfortunately, things do not look good for jolly old St. Nick--like so many other companies, he is forced to seek bailout money from congress after a "perfect storm" of financial hardships (including an expensive lock-in heating oil contract) slow his business to a crawl.
“Re-New-able York City”
A detailed story on the state of bioheat heating fuel in New York City. The article chronicles the development of Ultra Green Energy Services LLC, the City's first boiheat company, and the obstacles it had to overcome to offer an attractive, effective, and green heating fuel at a competitive price. The story also reports on government mandates for green fuel utilization expected to be implemented in the next few years.
A glimpse into the future of heating oil, which will hopefully be cleaner, safer, and more efficient than ever before.
“Energy Prices Not Headed for a Collapse”
Financial prediction and advice publication Kiplinger's offers its point of view on the future of energy prices. Their forecast includes sub $70/barrel prices throughout 2009, followed by a $100 per barrel average for 2010, the year that economic recovery will begin. An interesting take with straightforward bullet points to back up their position.
“POET Chief:$50 Oil Will Not Ruin US Ethanol Makers”
There has been a flurry of news reports about the down side of cheap oil--interest and investment in alternative energy technologies has fallen. This article focuses specifically on the ethanol industry in the U.S., reporting on a comments by the CEO of POET, a leading ethanol producer group. Executive Jeff Broin recently asserted that the U.S. ethanol industry can not only survive, but continue to grow with crude oil at or near $50 a barrel. A ray of hope amid not-so-encouraging times for the advancement of alternative fuels.
“Big Oil's Money Problem”
It's been a crazy year for oil prices. All-time record highs for the price of crude in July have been followed by plummeting prices that hit a three-year low point just last night. So what about the future of oil prices, and the profits of oil companies?
This article outlines three possible scenarios for oil prices and oil companies that could play out over the next few years. It seems to be almost certain that the price of oil will remain low (under $70) for the next three to six months. After that, we'll have to wait and see which of the three scenarios is the right one.
“Energy Independence Requires Will to do so”
A simple and straightforward opinion piece that describes America's path to energy independence. The author makes it clear that energy independence is possible and well within our grasp, but it will require dedication and resolve to overcome attempts by oil companies and other vested interests to block proliferation of alternative energy sources.
“An Axis in Need of Oiling ”
A fascinating article about how the plunging price of oil is affecting oil-producing nations with anti-US leaders around the world. Iran, Russia, and Venezuela all stand to lose huge amounts of national revenue if the price of oil remains historically low, and could lose influence on the world stage along with it.
“Alternative Energy Suddenly Faces Headwinds”
Falling oil prices (and, in turn, heating oil and gasoline prices) has been the only good news during the last month of economic hardship. While many Americans struggle to pay the bills and keep their homes, they have been paying less than they did six weeks ago to heat with oil and fuel their cars.
Unfortunately, falling prices are having a negative effect on the development of green energy sources. As conventional energy prices drop, interest in renewable energy diminishes; as credit gets tighter, renewable energy firms are unable to secure the investment needed to fully develop new technologies. It appears that the next president's priorities will determine if green energy companies get the governmental and financial support they need to move the United States towards becoming a self-sufficient and environmentally-positive energy consumer.
“Grease is the Word”
Boifuel is slowly making its way into the heating oil market. This article profiles one new biofuel-based heating oil company in Newburyport, Massachusetts that creates and distributes a biofuel/fossil fuel blend of heating oil (5% biodiesel, 95% fossil fuel-based heating oil). The company, called Biofuels of New England, collects used vegetale-based cooking oil from restaurants, filters and refines the oil, and blends it with regular heating oil to create their finished product.
“Commodity Prices Tumble”
This detailed article gives the long-term causes and effects of recent decreases in commodities prices. A balanced presentation of two viewpoints: oil and commodities prices will continue to decline for months or years or the decline is a short-term even that will be over in a matter of weeks or months.
“Prepay May no Longer be Best Plan”
A report on the reasons that more heating oil customers are deciding against prepay delivery plans this year. As discussed in The HEAT Zone blog, the record-high prices seen this summer caused many homeowners to lose money. This article focuses on residents in the Lehigh Valley that are changing their heating oil buying habits this year in response to rapidly-changing prices.
“CRUDE: How Wall Street Is Screwing America”
An impressive in-depth article on how shifty speculators, conniving companies, and a complicit government combined to drive up oil and gasoline prices over the last year without technically breaking any laws. The piece is chock-full of illuminating details, and can be as infuriating as it is interesting, detailing the careful steps taken by Wall Street investors to make huge fortunes on trading oil futures while average Americans paid through the nose at the pump.
“Cleanup of Oil Spill Continues”
A highway worker accidentally drilled into the Colonial Pipeline on Friday afternoon, resulting in the spilling of 25,000 gallons of diesel fuel. A quick and successful cleanup prevented major contamination, but the incident is just one example of the many possible events that can disrupt the flow of oil in a major pipeline.
“Decline in Oil Prices Holds the Prospect of Wide Relief”
Amid all of the bad news about the American economy (unemployment, collapse of the financial system, home foreclosures), there is a ray of sunshine: oil prices have fallen steadily over the last month. With so many things going wrong, at least we can look forward to cheaper gas and heating oil.
“Anatomy of a Gas Crunch”
Gas shortages were seen in different parts of the Southeastern region last month as a result of hurricanes Gustav and Ike hitting the Gulf Coast. This article from the Mountain Xpress of Western North Carolina examines the hurricane-induced supply shut down and other factors that contributed to the gasoline shortage in the Asheville, NC area during the middle of September.
“Chavez Says U.S. Crisis to Hurt Like '100 Hurricanes'”
The Venezuelan socialist leader that loves to hate America sounded off again today, saying that the US economic crisis will affect all of Central and South America. His predictions about the length and scale of the crisis in the US were not optimistic (surprise, surprise). He also spoke of creating oil-backed, international banking institutions--keep an eye out for those, as they would have an enormous effect on energy prices around the world.
“Nigerian Helicopters, Gunboats Patrol Oil Delta”
Nigerian armed forces continued to patrol the Niger Delta following the end of a brief cease-fire. The recent flare-up of violence is the latest development in the conflict between the rebels and the Nigerian government. Rebel attacks have focused on the oil infrastructure of Nigeria since 2006, and supply problems caused by the conflict continue to affect the global oil market.
“Russia Wants to Influence Global Oil Price -Minister”
As the world's second-largest exporter of oil and owner of the world's largest natural gas reserves, Russia could exert a huge influence on global energy prices. According to Energy Minister Sergei Shmatko, the Russian government has plans to do just that.
“Heatoil Firms Face Harsh Winter on Tight Credit”
Like their customers, heating oil suppliers are feeling the pinch of high oil prices and a slowing economy. This economic squeeze could mean heating oil suppliers going out of business, leaving their customers in the cold.
“Oil Prices Fall on Profit-Taking After Huge Rally”
Numerous market factors converged to drive down the price of oil the day after crude posted its largest one-day rise in history. While the short-term scramble that caused the price spike appears to be over, a volatile and unpredictable world market continue to cloud long-term forecasts.
“Crude Oil Tumbles as Wall Street Turmoil Adds to Demand Concern”
Crude oil tumbled, dipping below $91 a barrel and taking its two-day decline to more than $10 on concern that turmoil on Wall Street may weaken the global economy and reduce demand.
“Energy Bills Heating Up In Congress”
Laws setting offshore drilling parameters and the extension of tax credits for renewable energy are expected to be introduced on Capital Hill this week.
“Summer heat is free; cost in winter is climbing ”
Even with snow a long way away, heating oil prices are giving mid-Hudson Valley residents the chills. Andrew Heaney, President of HEAT USA, provides some advice for consumers.
“Crude Prices Burn Heating Oil Bottom Lines”
Heating oil dealers are getting hit a couple of ways. Not only are they financing their customers' unpaid bills, they are paying more than ever to fill their tanks at the refinery and store the oil until customers need it.
“Are Commodity Traders Bidding Up Food, Fuel Prices?”
A Senate panel warns the markets' regulator to rein in speculators.
“Oil's Murky Math”
Where are we headed: Up to $200 a barrel? Down to $80? With little good data on supply or demand, oil's next price move is anyone's guess
“Gas Jumps Above 3.67, oil passes $126 on Venezuela Concerns”
Not good.
“Oil Drops as Demand Falls Amid Supply Growth Expectations”
“Price of Oil: Will Politicians Feel Heat From Strapped Customers”
“Cutoffs and Pleas for Aid Rise With Heat Costs”
“Crude Oil Rises to All-Time High Above $119 on Record Euro”
“The Big Thirst”
Oil prices continue to break records even though there is no shortage of oil. This article looks at what's going on now in the oil market and what's ahead.
“Congress urged to help pay more heating bills”
“Heating Oil Price Surge Burns Dealers”
How the high price of heating oil isn't just hurting consumers. With a quote from HEAT USA President Andrew Heaney.
“Candidates Face Gas Pump Pinch”
An excellent primer on where the 2008 Presidential candidates stand on the issue of high energy prices
“How to Cut Your Winter Energy Bill”
Featured as one of AOL's internet 'Specials' of the day, this article has tips on reducing your energy bill, and features HEAT USA as a solution for heating oil users. The article increased hits on HEAT's website by 500% on the day it came out.
