Inside Track
Northeast Facing Possible Heating-oil Rationing This Winter
New England power producers are warning millions of Americans in the Northeast of the potential for rolling blackouts this winter as well as limited or even rationed heating-oil supplies.
With heating oil being a major source for home heating in New England, suppliers in the Northeast have begun rationing the fuel ahead of winter, after stockpiles dropped to a third of their normal levels. Then add the National Oceanic and Atmospheric Administration forecast that “most of the country will be slightly colder than both last winter and the average winter for the previous 10 winters,” and you end up with serious concerns about supply shortages and soaring prices for home heating.
Chris Herb, president of the Connecticut Energy Marketers Association, told Bloomberg October 21 that heating-oil wholesalers are beginning to limit allocations for retail suppliers, as New England’s stockpiles are approximately 70 percent lower than their average level since 1993, though he claims there is “plenty of home heating oil to meet the needs of Connecticut homeowners.”
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