About Oil Heat Costs
Misconception: Heating oil is inefficient.
Reality: Heating oil is a very energy efficient means of heating. It burns hotter than natural gas which means it feels warmer, and over the last 12 years heating oil has been, on average, less expensive than gas. New oil burning equipment is every bit as efficient as new gas equipment, and their expected life is twice as long. And, old gas furnaces are just as inefficient as old oil furnaces, with a greater chance of carbon monoxide problems.
Misconception: Instability in other parts of the world is a threat to oil heated homes.
Reality: The world’s oil reserves will last for a long, long time. The USA currently has a Strategic Petroleum Reserve with a capacity of 700 million barrels. With over 36 oil-producing countries, we are not dependent upon any one nation for our supply and in fact, the U.S. is the third-largest oil producer in the world with 33 American states producing almost half of our supply. Studies show that there are nearly two trillion barrels of crude oil in the world still untapped.