T Boone Pickens, the Texas oil billionaire, predicated on April 20, 2009 that oil prices by the end of the year would climb to $75 a barrel. He indicated that the oil produers want the higher prices and people who have oil are cutting supply.
Last year much of the same concerns were translated into higher gas prices at the pump and dire warnings about fuel oil prices heading into the fall. People aprehensive of the jump in costs locked in their rates at higher prices anticipating prices would continue to climb but instead, prices fell and the heating oil cost crisis was averted.
Most everyone has short term memories and the concerns about fuel oil prices of last year are long forgotten but it is naive to assume prices will not once again rise and a general panic over what can be done to reduce and/or address rising fuel oil prices will become front and center as we head into the fall.
There are a series of steps that can be taken today which can help reduce utility costs that homeowners are evaluating. A number of energy audit businesses that have popped up can give the homeowner an idea of what they can do to "tighten" up their homes but they are only suggestions and it is up to the homeowner to take the steps.
There are solutions out there that are inexpensive and easily installed and will deliver an immediate return on their investment. A micro processor device that is installed on the HVAC system and can optimize both the heating and air conditioning cycle can contibute minimum 10% annual savings can help offset the rising costs. Restricted water flow and mineral deposits will reduce overall appliance efficiency if not addressed.
Many homeowners realize the time for action is now --- in today's economy, it is important to take action to directly address both maintenance and utility costs in the home.
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