Energy Department to Lend Out Nearly a Third of the Heating Oil Reserve: About Half of Maine Homes Heat With Oil
The Trump administration plans to tap about a third of the federal emergency heating oil reserve to ease prices, a direct benefit for Maine. The U.S. Department of Energy announced on Oct. 21 that it will offer up to 315,000 barrels from the Northeast Home Heating Oil Reserve — which holds 1 million barrels — as an exchange, effectively a loan, through competitive bidding; companies must return the oil plus a premium before the 2027-28 heating season. Deliveries will be made from storage sites in South Portland, Boston and New Haven by Nov. 13. Heating oil prices have surged about 70 percent over the past year, and diesel, from the same refining stream, has hit record levels. Energy Secretary Chris Wright said the administration is 'committed to doing everything in our power to lower energy costs for the American people,' and credited a letter from Maine Sens. Susan Collins and Angus King and extensive discussions with Collins.
About a third of New England homes heat with oil, and in Maine the share is roughly half, making heating costs a key issue ahead of the Nov. 3 election, where Republican Sen. Susan Collins faces a tough re-election fight. Collins said the release would increase New England heating oil supplies by about 13 percent.
Published by GSM · USA (original Chinese edition)
Photo: Wikimedia Commons 授权图（缅因州 Portland Head Light 灯塔；作者 King of Hearts，CC BY-SA 4.0）
