September 20, 2024
Business

Strategies that can help offset the high costs of oil

Home heating oil prices are in the stratosphere and continue to rise here in Maine and across the country. Cash prices are averaging $3.09 per gallon. High oil costs flood across the entire economy, causing all boats to rise and stretching family budgets to the breaking point. What’s a consumer to do?

The truth is we are in a global price war for each and every gallon of the precious black goo. Imagine throwing a sirloin steak into the dog pound and the ensuing battle for consuming rights by our motivated canine friends. Sadly, every gallon of fuel oil we Americans can save will be quickly sold in India or China as their burgeoning economies scream for energy. Concepts such as energy conservation, pollution-free environments and small carbon footprints are decades away from implementation in these fast-developing countries.

The upside of conservation and alternative fuel sources is to reduce costs so that average families can breathe easier financially and stable, longer-term and renewable energy solutions can be found.

Maine consumers need to make a conscious decision to reduce their demand for high-priced oil. Many of the old-time Down Easters are excellent at saying, “Nope, your price is too high. I’ll pass on this deal.” The wolves are truly at the door, and to pretend they don’t exist could be extremely detrimental to your health when you answer the doorbell. The Internet is loaded with a lot of good information on how to reduce home heating oil consumption from installing programmable thermostats to adding more insulation and caulking leaks to wearing a sweater and lowering the thermostat.

Alternative sources of home energy also bear investigating. Instead of draconian Ice Station Zebra changes in your family lifestyle, try new heating strategies your family can live with. Wood has always been there for a heating source since Massachusetts owned the place, although it can be messy and more expensive to buy these days. Wood pellets, solar, natural and LP gas should also be explored. Our large Hammond Street Queen Anne of 1912, a very heavy energy user, sees more than its share of No. 2 fuel oil, but that is heavily augmented by three 30,000 BTU LP gas ventless heaters. During the 1998 ice storm they saved the day, and we didn’t need to abandon ship to the closest Holiday Inn, as many of our friends and neighbors did.

Another great advantage to the above-listed alternative heating resources is that the money stays sometimes in Maine but always in North America. Natural gas fields offshore in Atlantic Canada, Mexico and Texas will provide consistent supply for the next couple of decades or so. Fuel oil pricing is a global phenomenon. Wood, natural gas, wood pellets, solar a continental one.

Cheap oil is not returning and is not renewable. Demand will always be higher globally and supply is spotty at best and determined by events largely beyond our control. This includes Mideast conflicts, refinery breakdowns, dictators and despots, and pipeline, shipping and trucking woes. In the final analysis, we consumers can choose to close our eyes to the situation and raid the children’s college funds to pay for the spiraling heating costs and hope for lower prices that will not be forthcoming. A much better plan of direction is to find the resolve to move rapidly toward other sources of renewable, sustainable and affordable energy.

As we sit around Thanksgiving tables all across Maine later this week, we can count our many blessings with our loved ones gathered all around. One of our blessings is that we have opportunities and resources available to blunt the impact of the high cost of heating oil. Do we Mainers possess the resolve to change and take control? As we enjoy the turkey and all the trimmings in our dining room heated in some manner other than oil, let’s hope for the best.

Consumer Forum is a collaboration of the Bangor Daily News and Northeast CONTACT, Maine’s membership funded nonprofit consumer organization. Individual and business memberships are available at modest rates. Interested and motivated prospective volunteers are always needed and welcomed to apply to help with our mission. For assistance with consumer-related issues, including consumer fraud and identity theft, or for more information, write: Consumer Forum, Bangor Daily News, P.O. Box 1329, Bangor 04402-1329.


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