Heating Oil prices put Pellets on back burner.

[vinny11950]

Dow is down 745 in premarket this morning! S&P down 87. Oil will keep going lower because of fundamentals and because it will follow the rest of the market down.

I have electric heat baseboards, so I will keep buying pellets. But if you have an oil heating option, now is a good time to stock up on heating oil.

 

[Bioburner]

Historically will-should recover in three years. Folks are in 70's and a drop of 1000 points this morning is enough to give almost anyone a heart attack.

 

[Lake Girl]

That court decision basically put Canada into a recession for the forseeable future.

A little late to the party but that court decision speaks more to the mess in BC than the rest of Canada. Many unsettled land claims there. Locally, First Nations lost out over logging near their reserve based on treaty conditions https://scc-csc.lexum.com/scc-csc/scc-csc/en/item/14274/index.do

mineral resources, trees, water from the ground

Land patent spells out property rights ... in Ontario, MNR reverted white pine ownership years ago to the land owner at least for our location. http://www.carflaw.ca/rsv_of_timber.March2013.pdf

It appears that mineral rights in Southern Ontario have reverted to land owners as well. http://www.mci.mndm.gov.on.ca/mines/lands/mam/mam-workbook.pdf For local mining concerns, New Gold purchased the land outright from property owners. I checked on this years ago in relation to our property. Mining interests have to provide prior notification of staking and have to repair any damage they create or purchase the land.

Back to the discussion at hand: Heating fuel costs are still ridiculous in our area so pellets still make sense.

 

[moey]

Historically will-should recover in three years. Folks are in 70's and a drop of 1000 points this morning is enough to give almost anyone a heart attack.

They probably died unnecessarily then has market is only down .75% or so now.

 

[HarmanManP43]

They probably died unnecessarily then has market is only down .75% or so now.

U.S. Markets are down around that much yes. But I think you will find that many peoples portfolios are heavily invested in foreign markets too. Hence why mine dropped 4% in 2 days :/

 

[bags]

Give me bricks, land, and useful things. My sister is a stock broker and she can not balance her own check book.

I will never own a piece of paper worth $10K one day and $1K the next. That is my investment strategy and roll of my dice.

 

[bags]

It's OK for the Feds and powers to play to do Ponzi tactics but when they get beat by smarter idiots those idiots go to prison.

 

[Pete Zahria]

Give me bricks, land, and useful things.
My sister is a stock broker and she can not balance her own check book.
I will never own a piece of paper worth $10K one day and $1K the next. .

But on the other hand, there are millions, that have made millions....

Dan

 

[slls]

oil $1.699, looks like pellets are dead around here.

 

[Pellet-King]

oil gone up min 15 cents around here today, was 1.79 now 1.96, crude is up $5 this week, gas will now be up 20 cents by tomorrow
Crude Oil+2.71 $45.27 look's like party's over and back to pellet's, say goodbye to $2 gas, WHY DID THEY EVER ALLOW OIL ON THE STOCK MARKET?

 

[killie11]

I don't think its the end of cheap oil yet. I think the fluctuation is due to the wild bits of the stock market this week, and it should be back to a normal trend soon.

 

[Bioburner]

Gasoline dropped another nickel at the pumps yesterday afternoon while I was filling I have not paid much below 2.50 for years and filled for 2.29

 

[killie11]

Gasoline dropped another nickel at the pumps yesterday afternoon while I was filling I have not paid much below 2.50 for years and filled for 2.29

I think the lowest I got was 1.96 in april.

 

[Bioburner]

We are buffered a bit in the Midwest on prices. BPs refinery(north Indiana) that shut down by 50 % a couple weeks ago was coming back online last week otherwise we should have been closer to $2 by now. A farm site is predicting a spike in fuel oil as October harvest season approaches and refineries do some maintenance after the Labor Day weekend.

 

[PinetreePellets]

US Crude spiked from $38.85 to $45.27 in 2 days.. Premature to call pellets "dead". Yes oil is cheap now but it is also only Sept 29th.

 

[killie11]

US Crude spiked from $38.85 to $45.27 in 2 days.. Premature to call pellets "dead". Yes oil is cheap now but it is also only Sept 29th.

View attachment 160984

 

[Tonyray]

Filled the Oil Tank yesterday... 2.01 per gallon.... Still plan to burn pellets all winter though.. Love the whole concept of a pellet stove..
Oil will give us domestic hot water for quite a long long time...

 

[BrotherBart]

Yeah everybody got excited about a hurricane and a busted Shell Trans Nigar pipeline that both turned out to be non-events. The real world returns Monday.

 

[vinny11950]

A lot of wealth was wiped out from the Asian markets in the past few weeks - families that played the market on margin and through high risk bank accounts are now broke and will cut back spending drastically, depressing commodity prices even more.

If you want to nerd out some more on commodity prices, look up Commodities Supercycles.

(broken link removed)

I have read some predictions that put the bottom around 2017. Don't know if it applies to oil specifically.

 

[DneprDave]

I paid $2.00 /gallon for oil this week I only used 165 gallons of oil last year! This is due to my pellet stove. Before the pellet stove, I used about 600 gallons a year. The price of pellets here hasn't varied from $198/ton in the last four years I've had my stove.

 

[Bioburner]

I wonder if all the fires though will have a impact on harvest of trees for pellets in WA and surrounding states? We in MN keep seeing and smelling smoke. I'm probably only a phone call away from being called to go fight fires

 

[DneprDave]

There are fires every year in eastern Washington, it doesn't seem to affect lumber prices. The pellets I get come from a lumber mill in Tacoma, they gotta do something with all the sawdust they generate. They say it is the oldest pellet mill in the U.S.

Dave

 

[Pellet-King]

Home Depot near me has 338 ton's?, price is still $269
$269.00 /pallet(lift)
Pick Up In Store
FREE
Available for Pick Up: Today
338 In stock at:
Enfield #6214

Change Pick Up Store

 

[wayoutthere007]

Filled the tank today for $1.659 at PitStopFuels. Lowest it's been in a long time. I'll probably just pick up a ton or so to shoulder the really cold days if it keeps this low.

 

[PinetreePellets]

US Crude jumped almost 9% today. total up 27% in 3 days trading... Largest 3 day gain since 1990