With oil now at $3.70 a gallon, some Mainers are really looking around for alternatives. Per million BTU, #2 fuel oil is nearly the highest-priced heating solution in the state. Using this week’s average heating oil price and converting to a common heating unit value (million Btu) the price of fuel oil is at $26.68. This compares with an equivalent heating unit value for natural gas of $15.70 (at $1.57/therm); propane, $34.71 (at $3.17/gallon); wood pellets, $14.30 (at $236/ton); and cord wood, $10.50 (at $210/cord).
A recent New York Times article noted that oil will probably rise another 10 cents a gallon in the next few months. “Analysts do not expect much relief in the longer term, either, because global oil prices are expected to stay high amid political instability in the Middle East and rising demand from developing countries,” the article continued. “Meanwhile, heating oil could grow more scarce in the Northeast this winter, the Energy Department warned last month. Companies have been closing refineries that produce heating oil because of declining profit margins. Sunoco and ConocoPhillips recently announced the idling of two major refineries in Pennsylvania, and a third refinery owned by Sunoco may close next summer.”
Oil is getting both harder to find and more expensive. Natural gas and biomass are clear winners for many commercial (and home) applications that require a heat source that’s not quite as labor-intensive as heating with cord wood.
If conversion is not on your horizon, then do everything you can to make sure your oil-fired furnace or boiler is operating at absolute efficiency. Be a stickler about seasonal maintenance and repairs, and make sure you’re on a regular maintenance schedule to avoid costly breakdowns. Weatherization efforts (caulking, window quilts or drapes, insulation and tightening up) will really pay off. An energy audit will show you your quickest route to energy savings and payback.
Interested in exploring a conversion to something other than oil? Want to run an energy audit or your home or business? Give us at call at 800-649-4197.















