Hyperinflation in heating oil has been ignited

[whistle]

Rep. Edward Markey (D-MA) sees a disastrous scenario developing in the Northeast this Winter

Heading into the cold season, heating oil supplies are dangerously low--down 25% over stocks last Fall, while prices have risen by 24%, to record levels. Retail prices in Massachusetts for heating oil are now above $2.90, twice what they were in 2000, according to Boston.com.

In an attempt to bring down prices and free up supplies, Markey has called on the Bush Administration to release oil from two oil reserves,-- the Northeast Home Heating Oil Reserve, and the Strategic Petroleum Reserve (SPR),-- "to address the looming home heating oil crisis facing American consumers."

Energy Secretary Samuel Bodman has instead chosen to call on the OPEC nations to increase production, ignoring the speculation-driven nature of the price hikes. DOE spokeswoman Megan Barnett countered demands to dip into the SPR, by calling on Congress and the Administration to "increase renewable and alternative fuels and vehicle efficiency standards through the President's Twenty in Ten Initiative."

Barnett sees the price gouging as a tool with which to club Americans into embracing biofuels madness. I see it as the result of now out of control hyperinflation.

[jpak]

1. Heating oil is >$3 a gallon now in Maine

I saw $3.09 a gallon prices this week.

[whistle]

7. I am not at all surprised

[jpak]

2. Link???

n/t

[whistle]

10. Sorry, comments generally taken from here

http://globalwarming.house.gov/mediacenter/pressreleases?id=0118

<early press release>
http://globalwarming.house.gov/mediacenter/pressreleases?id=0093

[ozymandius]

3. "increase renewable and alternative fuels"

How in the hell is this going to bring down prices to affordable levels before peak usage season? I am so tired of hearing these politically-driven platitudes that are utterly meaningless to the defined and time bound problem of scarcity and speculative pricing.

Ms. Barnett would do kind service to her dignity by shutting her piehole. Political points scored on the back of looming calamity help no one.

[RC]

4. When are we going to start taxing the oil companies on their obscene profits?

Use that money for research into viable alternative energy sources and to subsidize energy costs for for the poor. The left over money can go to prosecute the wholesale corruption in our government.

[Bitwit1234]

5. Is is 3.13 in some parts of northern Minnesota.

Last year the highest it got was 2.39 a gallon.

[NC_Nurse]

6. $3.09 here in NC.

I couldn't believe it. It was $2.30/gallon 6 months ago. Yikes.
I hope we have the warm winter they've been forecasting. :(

[NorthernSpy]

8. I dread this upcoming winter...

:(

[izquierdista]

9. Time to raid the fast food joint

Time to take a cue from the biodiesel folks and cut the heating oil with some oil from the deep fryer. Oil burners are more tolerating than diesel engines, and you could probably use up to 20% used vegetable oil without any noticeable loss in performance.

The chemical processing done to convert vegetable oils to biodiesel is mainly to improve the viscosity for engine performance. In the first diesel engines, preheating the fuel was done to achieve this viscosity reduction. If your heating oil tank is in a warm place and you can keep the line from the tank to the burner warm, then you might be able to run all the way up to 100% used vegetable oil. (Well filtered, of course.)

:evilgrin: