rmptr
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This is just NOT a very nice clip...
Massachusetts Residents Monthly Oil Heating Bill Forecast To Hit $3,000 In 2009
A 30 percent increase on heating fuel bills loom for Massachusetts residents. According to a report released Monday by the University of Massachusetts, residents may pay $1 billion more in 2008 for heating fuel compared to their 2007 bill.
By 2009, fuel costs could climb to $3,000 per monthly per household, said Robin Sherman, lead author of the study by the University of Massachusetts Donahue Institute.
The estimate was based on the current price of $4.70 a gallon for heating fuel. A year ago the cost was $2.59. With the almost doubling of price, Massachusetts residents would pay a total of $4.45 billion for gas and oil heat next year, up by $469 million expected for 2008.
According to Sherman, among the factors considered in computing the heating fuel cost are the price of oil and predictions of a cold winter, which could cause a further drop in prices as temperature forecasts drop. A previous study said good energy conservation measures would also help offset any increase in heating oil bills and keep production costs under control.
Commenting on the dire forecast, Joseph Kennedy II, chairman of the Citizens Energy Corporation, told the Boston Globe, "Maybe the people who are very, very wealthy won't bat an eyelash. But for the regular people who are working from paycheck to paycheck and week to week, and don't have anything in the bank account, this is devastating.
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Massachusetts Residents Monthly Oil Heating Bill Forecast To Hit $3,000 In 2009
A 30 percent increase on heating fuel bills loom for Massachusetts residents. According to a report released Monday by the University of Massachusetts, residents may pay $1 billion more in 2008 for heating fuel compared to their 2007 bill.
By 2009, fuel costs could climb to $3,000 per monthly per household, said Robin Sherman, lead author of the study by the University of Massachusetts Donahue Institute.
The estimate was based on the current price of $4.70 a gallon for heating fuel. A year ago the cost was $2.59. With the almost doubling of price, Massachusetts residents would pay a total of $4.45 billion for gas and oil heat next year, up by $469 million expected for 2008.
According to Sherman, among the factors considered in computing the heating fuel cost are the price of oil and predictions of a cold winter, which could cause a further drop in prices as temperature forecasts drop. A previous study said good energy conservation measures would also help offset any increase in heating oil bills and keep production costs under control.
Commenting on the dire forecast, Joseph Kennedy II, chairman of the Citizens Energy Corporation, told the Boston Globe, "Maybe the people who are very, very wealthy won't bat an eyelash. But for the regular people who are working from paycheck to paycheck and week to week, and don't have anything in the bank account, this is devastating.
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Gpurs....
