Northeast Facing Record Heating Oil Prices This Winter | Households in the Northeast will face record prices for heating oil this winter, the Energy Information Agency projects. The record-high costs are caused by the earlier surge in crude oil prices, spurred by rampant financial speculation. Homeowners in the region have been moving rapidly away from the once-dominant heating oil to natural gas, which has been much cheaper in recent years.
At Climate Progress, Stephen Lacey has more: “The continued increases in oil-based heating fuels is encouraging many consumers to switch to gas. But it also offers an opportunity for the renewable thermal-energy sector to raise awareness about biomass, solar thermal and geothermal heat pumps.” Even more important for the Northeast’s old housing stock is home insulation retrofits.