The coming home heating oil crisis

If you think the rising cost of gasoline has been difficult to deal with, just wait until you have to start buying home heating oil.

As this graph illustrates, 30-day futures for home heating oil are now trading at nearly twice the price of just a year ago. It's approaching $4 US/gallon, and that's before distribution costs and dealer profit.

Unless prices collapse in the next couple of months--- and I see no reason why they will--- this will be a real crisis come winter.

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