Distillate Shortage in the U.S.

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dan_s
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Joined: Fri Apr 23, 2010 8:22 am

Distillate Shortage in the U.S.

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Diesel and heating fuel supplies dangerously low. Fox Business.

Diesel and heating oil supplies are dangerously low in the Northeast compared to the recent average, prompting concerns from officials as winter approaches. Diesel fuel and heating oil, which comprise the distillate category, are 63% below the five-year average in New England and 58% below the same average from Maryland to New York, according to a survey by the Department of Energy. The agency said that gasoline inventories are not as bad but are still at their lowest levels in nearly a decade along the entire East Coast. Based on data released Aug. 17 by the Energy Information Administration, distillate stocks for the East Coast are 47% below the seasonal five-year average, the DOE told FOX Business. The Northeast is heavily dependent on heating oil to keep homes warm in the winter, while other regions rely more on natural gas and electricity. Most fuel consumed from the Middle Atlantic states to Maine comes from Gulf Coast refineries, according to energy officials.

If you live in the Northeast and heat with oil, I highly recommend that you fill your tank as soon as you can. I work for Hess Corp. for 18 years (1983 to 2001) when the Company was a major supplier of home heating oil. If you wait until the cold arrives you may not get any oil.
Dan Steffens
Energy Prospectus Group
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