Still Burning Oil

1.84 here in Western Ma. Going to fill up and see...going g to be real warm this week too

Just filled the oil tank at $1.89

Son just got 400 gallons for the farm @ $1.95

I guess its time to clean the pellet stove today and install the new automatic igniter. . Probably a good idea for me to start the snowblower. I better get started.[/QUOTE]
Unfortunately I started the snow blower and changed the oil this weekend. Did the same with my standby generator too. It's better to be prepared!

I'm glad I'm not burning pellet's because "I aint got no time for that" and my back likes it too

Cheapest oil advertised I see here is $2.19.

bob

I converted to gas last year and gas is cheap. But I have 3-plus tons of Barefoots in my garage from the previous year. So I'm thinking of burning the pellets I already paid for as opposed to paying for gas in the coming months.

Still using oil here on chilly nights in Central NH.
Hasnt got cold enough to justify lighting the coal stove yet. Hoping this beautiful warm weather keeps up for a long time!

I've had the thermostat for the oil furnace set for 62F and have been running the pellet stove, the oil burner hasn't started, so the pellet stove is keeping up with demand.

I'm in NW Ct and will top off Oil Tank @$1.83 a gallon! Don't know how long Indian Summer will continue but the 2 Tons of Okies in the Garage will stay where they are till Temps get into the teens and stay there! Oil for Shoulder Season. Yellow Dandylines in front yard? Maybe Winters over?Hahaha! Snowblower ( David Blowie ) gassed up, ready to go at the drop of the Hat! This is New England after all!

Here's the latest on the oil supply and what is expected. Short version - oil prices will stay low for the next two to three years. Has nothing to do with U.S. Elections has some like to think. Saudis are pumping like crazy and will continue to do so. Here's the article:

http://www.ft.com/cms/s/0/b639a458-8600-11e5-9f8c-a8d619fa707c.html#axzz3qyCLpwvC

Second train hauling fuel (ethanol and crude)east derailed in Wisconsin. That's two trains in two days. A supply chain disruption is all that's needed to make prices jump. Major instability of middle east could easily do the same. We had a refinery shut down late summer and it left the Midwest paying way more than the rest of the country and is still falling. 2.29 here yet for gasoline and that's above national average.

Peterfield said:

Here's the latest on the oil supply and what is expected. Short version - oil prices will stay low for the next two to three years. Has nothing to do with U.S. Elections has some like to think. Saudis are pumping like crazy and will continue to do so. Here's the article:

http://www.ft.com/cms/s/0/b639a458-8600-11e5-9f8c-a8d619fa707c.html#axzz3qyCLpwvC

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It's imperative for these outlets to create these predictions, but they're not worth the paper they're printed on.

mass_burner said:

It's imperative for these outlets to create these predictions, but they're not worth the paper they're printed on.

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Not even sure what you mean about the possible imperativeness they require to publish the information. Now for some facts. The information exactly mirror's the information from another source I quoted a few weeks ago. That source is actually in the oil business and knows what he's talking about as it's his job to look out five years for energy trends. Not for nothing but the guy I spoke with gets paid mucho dinero to know what he's talking about and his info to date has been spot on. Doesn't mean I'm not going to burn pellets but anyone running out to buy pellets to "beat the big price increase" is on a fool's errand this year.

$1.95 a gallon here, we will fill up this week, not that it's out ( I think it's just under half a tank) but it's close to the cost of a ton of pellets to do it right now. And thus far with the warm fall weather we haven't needed the stove. The heat has been on a couple of times per 24 hours and some days not at all since early oct.

Peterfield said:

Not even sure what you mean about the possible imperativeness they require to publish the information. Now for some facts. The information exactly mirror's the information from another source I quoted a few weeks ago. That source is actually in the oil business and knows what he's talking about as it's his job to look out five years for energy trends. Not for nothing but the guy I spoke with gets paid mucho dinero to know what he's talking about and his info to date has been spot on. Doesn't mean I'm not going to burn pellets but anyone running out to buy pellets to "beat the big price increase" is on a fool's errand this year.

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What I mean is that financial news outlets need to produce content or they perish. Its little more than a collection guesses, opinions, past facts, and so firth.

It's nor surprising that they mirror other outlets. It's often a "me too" game. Nobody knows what the Saudis are going to do, I'd be surprised if they even know completely themselves.

Peterfield said:

Not even sure what you mean about the possible imperativeness they require to publish the information. Now for some facts. The information exactly mirror's the information from another source I quoted a few weeks ago. That source is actually in the oil business and knows what he's talking about as it's his job to look out five years for energy trends. Not for nothing but the guy I spoke with gets paid mucho dinero to know what he's talking about and his info to date has been spot on. Doesn't mean I'm not going to burn pellets but anyone running out to buy pellets to "beat the big price increase" is on a fool's errand this year.

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Did they predict the drop in crude prices fro $108 in June 2014 to $44 in Jan 2015 ?

The only credible predictions of lowering prices I've been able to find were for prices dropping to about $95 for the same time period.


Prices of $40 to$80 seems to be the general consensus everywhere except for the off outlier claiming a bottom of $20.00 - course this entity was the same one claiming oil would be over $200/bbl today. cough S G cough.

mass_burner said:

What I mean is that financial news outlets need to produce content or they perish. Its little more than a collection guesses, opinions, past facts, and so firth.

It's nor surprising that they mirror other outlets. It's often a "me too" game. Nobody knows what the Saudis are going to do, I'd be surprised if they even know completely themselves.

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Wasn't being critical at all but the person that I asked about this is responsible for knowing this stuff and he's not mirroring anyone and he advised a while back what the Saudi's would be doing for the next year or so, and that is, pumping the crap out of their wells, one reason to drive the price so low to stop the U.S. fracking activities (competition), which has essentially worked, and two, capture as much market share as possible before Iranian oil exports hit the open market. The Saudi's just advised OPEC a few days ago that at the December meetings this year, they have no intention of restricting their production regardless of what the other members desire, a position already told to me weeks ago by my "wicked smart" brother-in-law, who knows these things and has been spot-on to date. That's why the price of gas and oil are and have been depressed this year compared to previous years and why he says it will continue for a longer period of time than folks think. The only reason the Northeast isn't benefiting as much as the rest of the country price-wise is a local phenomena of "we have you by the balls" because natural gas and LP lines aren't readily available so it has to be shipped here.

billb3 said:

Did they predict the drop in crude prices fro $108 in June 2014 to $44 in Jan 2015 ?

The only credible predictions of lowering prices I've been able to find were for prices dropping to about $95 for the same time period.


Prices of $40 to$80 seems to be the general consensus everywhere except for the off outlier claiming a bottom of $20.00 - course this entity was the same one claiming oil would be over $200/bbl today. cough S G cough.

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Not the exact commodity prices as he doesn't have a crystal ball but yes, he did say that what the market was going to do and why, and it did, mostly for the reasons stated. Could it change back? Sure, but that won't be the trend for a while.

Peterfield said:

Not the exact commodity prices as he doesn't have a crystal ball but yes, he did say that what the market was going to do and why, and it did, mostly for the reasons stated. Could it change back? Sure, but that won't be the trend for a while.

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Oh come on. No one predicted $40 bbl oil.
Michele Bachmann may have predicted $2 gas. Drill baby drill !!

Or maybe tomorrow? 9/11 sure hiked things up