NationStates Jolt Archive

People around the world rely on many different energy sources to heat their homes in the winter. In North America at least, it as always been natural gas. Yet there is always a tiny minority that still use heating oil. I think that the end of it is nigh. Why? Take a look:
http://www.bloomberg.com/markets/commodities/energyprices.html
This is today's energy prices. I thought this would be a bit different than the threads bitching about gas, so I'm doing it on heating. Anyhow, see the wholesale heating oil price? That is a near record, and it is nowhere near peak season. Even more disturbing is the price of natural gas, which did hit $10 /mmBTU (it was $4 just a few years ago). I would assume that this is a natural effect from the burgeoing use of natural gas for everything, but heating is very dependent on it.
Even electricity isn't safe. I myself use it only because my power comes from a hydroelectric plant, the cheapest source of energy. I'd wish I'm never switched, because that would be way too expensive.
I guess there are things we can do. During the energy crisis of the 70s, Jimmy Carter wanted thermostats lowered a few degrees. It was even rumored that the White House typists wore gloves while typing. But I think we aren't quite that desparate yet. Personally, I'd check my insulation and for any leaks. But that's just me. Anyone else want to bitch with me?

Well, here's hoping that global warming kicks in quickly.

Well, here's hoping that global warming kicks in quickly.

Global warming. If only it were true . . . :(

The oil bubble's very close to bursting. You can see it by the reaction to this week's inventories report. Crude oil stocks built up by 1,800,000 barrels, above expectations of a 100,000 build and 10% year over year. Distillates (heating oil) also rose above expectations building by 1,400,000; they are up about 6% year over year. Propane built by 224,000, above expectations and supply is up over 14% year over year. The only thing down was gasoline, and its movement was totally predictable and normal for the end of the driving season. This pattern has been the normal for several weeks.

What happened? Oil rose by $1.61 a barrel to a new high, regardless of fundamentals. This is a bubble propped up only by speculators, and it's going to crash very soon.

Good thing I prefer cooler temperatures and have extra blankets if it gets too cold then...I would rather we have another ice age than this oppressive heat.

The oil bubble's very close to bursting. You can see it by the reaction to this week's inventories report. Crude oil stocks built up by 1,800,000 barrels, above expectations of a 100,000 build and 10% year over year. Distillates (heating oil) also rose above expectations building by 1,400,000; they are up about 6% year over year. Propane built by 224,000, above expectations and supply is up over 14% year over year. The only thing down was gasoline, and its movement was totally predictable and normal for the end of the driving season. This pattern has been the normal for several weeks.

What happened? Oil rose by $1.61 a barrel to a new high, regardless of fundamentals. This is a bubble propped up only by speculators, and it's going to crash very soon.
It's not all a liquidity bubble. There has been a lot of growth around the world, and the current production is not much greater than consumption, which it normally isn't. I expect prices to really plummet either late next year or in early 2007. But then again, that's probably gonna be during the next trough of the business cycle.

Good thing I prefer cooler temperatures and have extra blankets if it gets too cold then...I would rather we have another ice age than this oppressive heat.
I would as well. I love sub-zero temperatures. But it's still fun to bitch.

That's why it's so important, if you're living in an apartment, that heat and hot water are included in the rent. It may make your rent slightly higher, but you make out like a bandit in the winter.

That's why it's so important, if you're living in an apartment, that heat and hot water are included in the rent. It may make your rent slightly higher, but you make out like a bandit in the winter.
I actually brought this up because my grandpa owned an apartment complex for many years. The family just sold it to some investor in New York. In addition to selling it at twice the market value, he'll croak when he sees the energy bills (which we always covered). It's a lemon for him, but hey, we made a fortune off some naive investor.