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Old 08-12-2008, 08:43 AM
 
Location: hinesburg, vt
1,574 posts, read 4,859,169 times
Reputation: 406

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My oil company just notified me they will have a pre-buy option until August 22nd at $4.45 p/gallon (#2 oil). I'm on the fence on how much quantity to lock in for if any. My gut feeling tells me that oil prices will be just like the markets. A little bit of a tease to create euphoria and then just like we have seen from last October once performance improves then it will be followed by a shock dump followed by continued wild cycles. Of course with oil we still have to contend with all kinds of external factors like storms, brush wars, misc interruptions, or whatever excuse they can dream up to spike the price. Then again, if we have a colder than normal heating season or a period of really deep freeze, then the price will spike, despite the fact that for heating fuel they can pretty well calculate needed supply for regions and have the entire non heating season to replenish stock reserves.
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Old 08-12-2008, 08:48 PM
 
Location: Winter Springs, FL
1,792 posts, read 4,664,047 times
Reputation: 945
The problem lies with the oil used to heat homes. The refineries have to change production to supply this demand and as always will the refineries put out enough heating oil to meet the demand and to keep prices down.
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Old 08-20-2008, 11:39 AM
 
862 posts, read 1,052,067 times
Reputation: 149
Quote:
Originally Posted by 68vette View Post
The problem lies with the oil used to heat homes. The refineries have to change production to supply this demand and as always will the refineries put out enough heating oil to meet the demand and to keep prices down.
HUH ??? Who knew big oil had such social concerns for us little people.
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Old 08-24-2009, 07:26 AM
 
1 posts, read 1,762 times
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Default contract or not?

Anybody got any thoughts on the wisdom of locking in the current price for the upcoming season? I am waffling.
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Old 08-29-2009, 03:47 PM
 
Location: 89121
413 posts, read 1,589,555 times
Reputation: 341
Just my thoughts: With the massive government spending we are seeing, it appears that the value of the dollar will decline dramatically. Since oil is priced in USD, oil will become more expensive over the next few months. We will ever see $40.00/bbl oil again anytime soon ? I strongly doubt it.
Oil prices have been on the rise for some time now.
Crude Oil Spot and Natural Gas Spot Prices - NYMEX
If I still lived in VT, I would strongly consider a pre-buy.
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Old 09-04-2009, 10:14 AM
 
Location: The Woods
18,358 posts, read 26,510,277 times
Reputation: 11351
If I had a choice I'd be burning wood (oops, the Sierra Club et al. will sue to stop any logging on our public lands though ). Have a nice woodstove and all the necessary top of the line stainless steel chimney components...but can't use it while in a rented place.
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Old 09-06-2009, 03:34 PM
 
Location: Vermont
1,475 posts, read 4,144,411 times
Reputation: 849
Quote:
Originally Posted by NYtoVT View Post
Just my thoughts: With the massive government spending we are seeing, it appears that the value of the dollar will decline dramatically. Since oil is priced in USD, oil will become more expensive over the next few months. We will ever see $40.00/bbl oil again anytime soon ? I strongly doubt it.
Oil prices have been on the rise for some time now.
Crude Oil Spot and Natural Gas Spot Prices - NYMEX
If I still lived in VT, I would strongly consider a pre-buy.
I've been buying in October and November over the past few years and I've been lucky. I know gas and heating oil aren't supposed to move together, but I've found when gas goes down after summer, heating oil goes with it. My guy has quoted me $2.39, not prey buy. I'm going to try and get it for closer to $2.00. If it goes up to $2.50 or $2.60 I'll probably get it.
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