[flu189]

While it is true that numerous innovative technological concepts, especially in residental construction, exist to provide substantial energy efficiency the problem is that the costs are prohibitive for a large segment of the population even when taking into consideration the skyrocketing costs of current energy. The age and quantity of the housing stock in New England also makes rapid change very difficult. Even if one could afford several thousand dollars to achieve up to 20% to 30% greater efficiency, rising prices at today's rates seem to make no difference. It is especially frustrating now to see prices rising so fast and with no time to react. Another thing to watch closely are the economic ramifications of the cap and trade and climate bill being debated right now.

[flu189]

I thought it was bad enough that heating oil is now pushing $5.00 per gallon, but today I got the bill for the annual service contract which essentially covers the annual inspection and cleaning along with minor repairs if needed during the heating season. It went up from $175.00 to 274.00. Can't help but wonder why didn't they just make it an even hundred as if by stopping at $99.00 it makes it seem like bargain. In just three years the cost to heat has now doubled. It is definately going to be a very interesting year.

[tkln]

We just got our letter yesterday for our payment plan - I'm not sure what the per gallon cost is, but we paid $110/month from May 2007 - May 2008, and now for the next year it's up to $232/month.

We live in a 1400 square foot ranch in NYC.

[flu189]

Originally Posted by tkln

We just got our letter yesterday for our payment plan - I'm not sure what the per gallon cost is, but we paid $110/month from May 2007 - May 2008, and now for the next year it's up to $232/month.

We live in a 1400 square foot ranch in NYC.

If the $232.00 per month in fact just covers a maintenance contract, then for the amount you are spending you could skip the contract and buy yourself a new more efficient furnace every three to four years! Anyway, numbers such as these along with the costs for fuel will simply financially crush countless numbers of families.

[tkln]

Ha ha...no, thankfully that covers the oil delivery for the next year (and chimney/boiler cleaning/maintenance)...our contract for oil is spread over 12 months so it's not as painful, but it's still over double the cost as last year.

[flu189]

Originally Posted by tkln

Ha ha...no, thankfully that covers the oil delivery for the next year (and chimney/boiler cleaning/maintenance)...our contract for oil is spread over 12 months so it's not as painful, but it's still over double the cost as last year.

Ah, I thought so. Only double the cost is much more palatable (gulp) It is double here now as well, but with so many folks surviving on modest wages, even for profesional occupations, the bite will take quite a chunk out of their hids.

[tkln]

Yeah, I'm basically doing the paycheck to paycheck thing here too, which just goes to show being in NYC doesn't mean one is rich! I think there is a only a small percentage of people who aren't going to be hurting come this winter...and I know I'm not in their income tax bracket.

[flu189]

Reporting and discussing bad news really sucks, but we can't live in denial. As the markets close today it is pretty brutal. The most significant event involves what one source termed "hysteria" concerning crude trading as the price per barrel increase set an all time daily record by rising $10.75 or +8.41% following yesterday's increase of about $5.00. Today trading of heating oil futures were also actually suspended due to the "circuit breaker limit."

[tkln]

What irks me is that it seems a lot of the rise in oil prices is due to speculation and investing, and not necessarily tied to supply issues...I don't know anywhere near enough about how the economy works to understand this, but it would seem like if investors are causing the prices to rise, shouldn't something be done about it?

And I'm going to bet that oil will hit $150 a barrel by July 4th, only because some economists said it would. It's almost like they WANT it to or something.

But again, I know next to nothing about wall street or how all this works...

[flu189]

Heck, even professional economists can't fully comprehend and explain why certain things happen or how to deal with them. I agree that speculation is a major component surrounding this oil mess, but on the other hand regulating the free market can actually cause even more widespread adverse effects which can spread into many other markets. Kind of like a fiscal Andromeda Strain if you will. Some claim that this "oil bubble" is destined to break and I feel that this is a realistic assumption. However, I don't think based on global issues we will ever get back to oil prices which would translate back to $1.65 gas and heating oil which extsted just a short three to four years ago. The scary part of oil escalation invvolves it's impact on everything that runs all of our lives, so even if we get relief the protracted damage done will never be undone.