The heating oil industry faces a relentless boom in cheaper natural gas, on top of a more than 50 percent drop in the number of homes heated by oil between 1973 and 2011, reports the Associated Press. The threat to the industry dominated by family businesses is particularly keen in the Northeast, where about 30 percent of homes are heated by oil, according to the U.S. Department of Energy, notes the AP’s Stephen Singer. In the South, Midwest and West no more than 2 percent of homes use oil heat, according to the AP.
Natural Gas Pressures Family-Run Heating Oil Companies
