HEATING OIL COMPANY – PORTLAND, OR
News – Home Heating Oil
The falling value of the dollar as compared to commodities is cited as an additional factor making oil prices soar. Many other commodities are experiencing the same type of price inflation such as copper, gold and some food staples, especially imported items. Federal Reserve chairman Ben Bernanke announced that the Fed will not raise interest rates after last weeks Reserve Board meeting, causing stock market prices to go down and the dollar’s value against international currencies to decrease. This means that each of our dollars will buy less of imported items such as oil and gas, food, coffee beans, gold, copper (think household wiring and many electrical devices), etc. Wide spread generalized inflation of US goods and wages would likely cause the Fed to raise interest rates. In today’s weak economic environment the Fed’s low interest rate policy is seen as attempting to encourage economic and job growth by making money affordable for businesses to borrow. Let’s hope for growth and not more generalized inflation!
Hey, you might be running out of oil! This is no April Fool’s joke; I just about ran out of oil myself, yesterday. I went out to measure my oil in tank and I was down to 1-1/2″! I was running on fumes! Well fortunately as the oilman myself I had an oil truck here and was able to fill my tank on the spot. But it’s been a cold Spring so far – March was one of the coldest on record! So check your tank now. Call before you run out. Call Mike or Jani Priestley at 503-774-2205! We’ll normally be out to deliver your oil the very next day!
4/26/2011 Oil & Gas Prices Art Too HIGH!!
Virtually everyone in the USA is complaining about high gasoline, natural gas and heating oil prices. These price escalations also affect practically every other energy and commodity price in America, most notably food and electricity which all American households need to survive. Most all of these price spikes are due to Wall Street investment speculators manipulating the price for the profit of already superwealthy fat cats. There is literally nothing we average citizens can do but write and call our Senators and Congresspersons to try to enforce speculation regulation. Obama has recently introduced this idea (see Oregonian news of 4/25/2011). American citizens need to make sure Congress doesn’t kill it. Write and call your congressmen and women today to pass regulation restricting oil and gas price manipulation.