Will oil ever be cheaper than gas?? (water heater, live)

[QueenstoLI]

I am about to go through with a burner conversion from oil to gas and I'm getting a little nervous that it might back fire on me in 5-10 years. Historically, I tend to make what I believe to be well thought out decisions back-fire on me. I know we have no fortune tellers on this board but any thoughts on whether this investment would continue to provide return for the foreseeable (10+) years?

[sleepycali07]

US has abundant of natural gas and it's not imported. I'm not a fortune teller but I just converted a year ago because I read a bunch of articles saying our pipelines won't dry up anytime in the near future. Just look at prices the last 5 years and i believe the trend of oil going up and gas going down/staying put will continue.

[twingles]

I don't think that's ever happened but there are other benefits to gas - it's cleaner, you don't need to worry about delivery, your oil burner going out in the middle of the night on the coldest day, your oil tank leaking, etc etc. Don't worry about it.

[ar1458]

ND drillers burning off nearly $100 million worth of natural gas a month - NYPOST.com if they keep doing this the prices will rise ....

[rocafeller05]

The natural gas companies will never let oil prices get far ahead of gas prices.

[Kbinspections]

Not for a while...

[Interlude]

The gas producers are looking to make the US an exporter and are hurriedly building port terminals for that purpose. Once it hits the world market, prices will be going up for all.

[ovi8]

I paid $1100 in gas in the last 12 months. I had paid over $2500/yr for oil at my previous home.

No.

[mrsuggestion]

Are you doing it for savings or does your oil boiler need replacing? Have you looked into high efficiency condensing gas boilers? What about your hot water heater? Gas heat is great, but just do your homework on the overall heating system and your expected payback.

[oldcarguy]

The simple answer is No