Do I Burn Oil or Pellets

Bought 400 gals of oil at $1.33 per gall today.
Still burning pellets.
I regard that oil as a hedge against future oil price rises. Should last years.

Redbarn said:

Bought 400 gals of oil at $1.33 per gall today.
Still burning pellets.
I regard that oil as a hedge against future oil price rises. Should last years.

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How large an oil tank do you have? At my previous house (which I still own but rent out), I had an underground oil tank that held 1,000 gallons, but I had it taken out -- it made me too nervous. At my current house I have 2 side-by-side oil tanks that hold (nominally) 550 gallons. They are full but I haven't used oil at all so far this winter -- it's been insanely mild. (Up here, oil as of today is $1.85/gallon. I would love to buy more, but you have to use the current year's purchase by 5/31/16, and I seriously doubt that I would, unless I switch to oil completely for this year -- but I have too many pellets to do that.)

I am just about to hit the 2-ton mark on pellet use this winter (being VERY generous with them), but I'm using pellets that I bought 2-1/2 years ago. I still have many many tons in my garage, enough to last me through this winter, next winter, and likely at least half of '17-18 -- on top of the oil.

I have to admit I do get annoyed at how pellet prices (where I live, anyway) have not moved except UPWARD. Someone mentioned hopefully stocking up at $200/ton? Up here the cheapest I've seen this year is $259/ton (that's Home Depot, for the same types they sold last year for $219) -- I am HOPING that this winter will remain mild so they'll have a zillion tons left in the spring and the price will HAVE to go down. (Right?!!)

We also have 2 side by side tanks that hold 550 galls in the basement.
We use circa 75 galls per year during winter vacations, weekends away etc. etc.
With oil prices this low, I filled the tanks, figuring that the oil would last 5 years.
We buy 4 tons of pellets per annum in April and my wood piles are full.
We're fully loaded with potential BTUs. Old Man Winter, bring it on...

With the warm weather we've been running entirely on pellets.

Redbarn said:

Bought 400 gals of oil at $1.33 per gall today.
Still burning pellets.
I regard that oil as a hedge against future oil price rises. Should last years.

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But you could also use the lowest cost fuel, invest the difference as a hedge against future fuel costs.

What did you hedge the savings on when pellets were cheaper than oil ?
Beer ?

billb3 said:

But you could also use the lowest cost fuel, invest the difference as a hedge against future fuel costs.

What did you hedge the savings on when pellets were cheaper than oil ?
Beer ?

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Apparently, more pellets.

Boycott oil, burn pellets

sweets said:

Boycott oil, burn pellets

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Yea right pal, just ordered 100 gallons at $1.38 last night, crude went up $1.50+ yesterday, in a few hour's oil will be up 5 cents min, I've burned 2 bag's of pellet's this yr and 100 gallons of oil, so far cost me under $200 on this mild winter

Pellet-King said:

Yea right pal, just ordered 100 gallons at $1.38 last night, crude went up $1.50+ yesterday, in a few hour's oil will be up 5 cents min, I've burned 2 bag's of pellet's this yr and 100 gallons of oil, so far cost me under $200 on this mild winter

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My tank's full. I protest with my wallet.