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Why Are Energy Prices Rising?

Winter 2022 Temperature Forecast

It’s no secret that energy prices, like most other commodities, are on the rise. Consumers are paying more to heat their homes this year, adding to the sticker shock they’re already facing. And with winter approaching, the timing is less than ideal — especially for people living in the northern tier of states. A rare third consecutive La Nina winter has forecasters predicting colder than normal temperatures from the Pacific Northwest to the Great Lakes states. 

Supply vs. Demand & Climate Change Mean Higher Energy Prices

The reason for higher energy prices? It all boils down to demand versus supply. Oil and natural gas prices have been climbing, and more customers are turning to these fuels as coal plants are shutting down. According to the U.S. Energy Information Administration (EIA), energy prices will increase 28% for natural gas, 27% for heating oil, 10% for electricity, and 5% for propane. 

 

Relief is unlikely to arrive any time soon. The ongoing climate crisis is fueling (no pun intended) governmental policies restricting fossil fuel use. In addition, New York has implemented a blockade on pipelines used to transport natural gas from Appalachia. Liquid natural gas supplies in the Gulf Coast aren’t a viable alternative thanks to the Jones Act, which stipulates that cargo transports between U.S. ports can only occur on ships that are built in America, fly the American flag, and are crewed by Americans. The end result? Liquid natural gas must be imported from overseas at a far higher cost. Add in OPEC’s insistence on cutting oil production and Russia’s ongoing war with Ukraine, and there is really nowhere for those energy prices to go but up. 

Waste Oil Heaters are Economical & Environmentally Friendly

There isn’t much the average consumer can do in response to U.S. and foreign administrative policies, but that doesn’t mean they can’t take action to combat high energy prices. A Lanair waste oil heater is a great solution for reducing costs this winter. 

 

Waste oil is a valuable resource when burned and can save you significant money. Heating your shop with waste oil means you don’t pay a dime for heating fuel. Not only that, but you’re saving money on used oil disposal costs — and you’re being environmentally conscious. Given that a warming climate is contributing to the rise in energy prices, this should at least make you feel good about your commitment to recycling. 

 

Lanair XT series waste oil heaters are our most advanced units to date and a great intro product for those new to the technology. We combine the latest burner technology with the most current lean manufacturing efficiencies to produce a quality, reliable heater at the lowest price in the industry.

 

The XT-200 Waste Oil Heater is our second smallest unit, pushing out up to 200,000 BTUs per hour. It features a fine grained galvanized cabinet to protect from corrosion, a high performance XT series burner that burns more efficiently than any other burners to date, an internal fan to reduce excess noise in your shop, and adjustable locking louvers to direct air flow. Like all our products, it is UL listed, making it a safe choice for your business. Our 81012001 - XT200 Waste Oil Heater Value Package 1 includes an 80-gallon tank and 6” chimney kit and is a great choice for heating your shop this winter. 

 

For more information, contact us today

 

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