Heating Oil Prices

The U.S. government and private groups are predicting higher heating oil prices this winter. According to the U.S. Energy Information Administration (EIA), the average heating bill for all fuels is expected to increase by 15 percent. For homes that use heating oil, that increase could be as much as 23 percent.

Contributing factors to the rise in heating fuel costs include more expensive crude oil, increased demand for diesel fuels and disruptions caused by multiple hurricanes this year.

There are steps that consumers can take to lower heating fuel consumption. For example, lowering the thermostat by 10 to 15 degrees while you sleep can save 10 percent a year on energy bills.

Learn more about why heating fuel costs are rising and steps you can take to save money on your energy bills.

North America

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Where do Americans get two-thirds of the natural gas we rely on? You might be surprised.

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Rhetoric vs. Reality

Rhetoric: We can't drill our way out of this problem because the United States only has three percent of the world’s oil reserves.

Reality: America has vast resources of oil and natural gas – enough oil to power more than 60 million cars for the next six decades and enough natural gas to heat 60 million homes for 160 years, according to government estimates. We may have considerably more resources, since the government conducted their last true inventory in the early 1980s using old data from now-outdated seismic equipment.

To help encourage informed and effective conversations about energy, API has compiled some of the most frequently heard claims and proposals, along with the realities that need to be considered when evaluating them.

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