EIA increases US winter heating bill projections

The US Energy Information Administration warns that the homeowners using heating oil will pay about 40% more this winter, despite recent drops in crude oil prices.In its latest short-term energy outlook, EIA said lower prices were offset by higher demand, particularly in November and December, both of which had 28% more heating degree-days in the Northeast in 2000 than they did in 1999."While prices have eased some in recent weeks, the heating oil market is still relatively tight and subject to significant volatility. Still, it is worth noting that, despite very cold temperatures over the last 2 months, the heating oil market has held up rather well."EIA noted that, since the end of Novem...

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