Recently a few emails have gone around the neighborhood discussing the possibility of creating a Fuel-Oil Co-op for this winter's home heating oil contracts. Although many us presently use different oil companies, there may be a way to save significant dollars if we all contracted through the same vendor (see article, How to Save Money by Starting a Fuel Co-op). With the recent cut in production by OPEC and the hurricanes in the gulf region, it certainly looks like oil prices may escalate this winter. With this in mind, now is the perfect time to pool our buying power and reach out to a local oil company with a co-op proposal. From our initial research, it looks like we will need to have at least 10 homes participating (or 10,000 gallons) to meet the general minimums required. If your are interested in putting this idea into action, please post your comments and suggestions to this blog so that we can get create a legitimate 'game plan'. I suspect we will want to designate a point-person to be responsible for collecting our individual oil needs (how many gallons you used last year, the price per gallon, the vendor you used, etc.). Any volunteers? By the way...we think this is a fantastic idea and we thank the neighborhood resident that came up with it! - Andrew & Susan (6Greany)
Friday, September 12, 2008
Oil Exploration Begins on Greany Drive
Recently a few emails have gone around the neighborhood discussing the possibility of creating a Fuel-Oil Co-op for this winter's home heating oil contracts. Although many us presently use different oil companies, there may be a way to save significant dollars if we all contracted through the same vendor (see article, How to Save Money by Starting a Fuel Co-op). With the recent cut in production by OPEC and the hurricanes in the gulf region, it certainly looks like oil prices may escalate this winter. With this in mind, now is the perfect time to pool our buying power and reach out to a local oil company with a co-op proposal. From our initial research, it looks like we will need to have at least 10 homes participating (or 10,000 gallons) to meet the general minimums required. If your are interested in putting this idea into action, please post your comments and suggestions to this blog so that we can get create a legitimate 'game plan'. I suspect we will want to designate a point-person to be responsible for collecting our individual oil needs (how many gallons you used last year, the price per gallon, the vendor you used, etc.). Any volunteers? By the way...we think this is a fantastic idea and we thank the neighborhood resident that came up with it! - Andrew & Susan (6Greany)
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Another option is the Oil Buying Network. We've had very good results for six years now, and we save about $.35/gal off the going rate (there's no lock-in option, however). http://www.oilbuyingnetwork.com
We're also installing a super-efficient boiler that claims to save 30-40% in fuel: www.system2000.com. If you need a new system, the added cost of this one supposedly pays for itself in about a year.
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