HIGH COST OF HEATING

September 16, 2008
Michael Sheehan

Physician's Money Digest, February28 2003, Volume 10, Issue 4

Frigid temperatures in the easternhalf of the United States, thethreat of war with Saddam Hussein,and the strike in Venezuela, whichhas cut off the second-largest supplierof oil and gasoline to America,are all factors that have combinedto raise the prices of heating oil,natural gas, and electricity and pushthis winter's heating costs to thehighest level in recent years. Still,the Energy Information Administration(EIA; www.eia.doe.gov) haspredicted that prices will level offover the next few months, althoughit admits that events like war withIraq or a prolonged Venezuelanstrike could push prices even higher.As it is, the EIA is calling for a43% year-over-year increase inheating oil prices and a 34% boostin natural gas bills.