"But the owners I've spoken with so far are looking at oil costs over a longer period of time than just this winter," he reports. "I was surprised--as a layman--to learn that they weren't locking in. Their thinking apparently is to float with the market, because over a five-year term they'll end up being okay. It's like playing the stock market."
According to published reports, quoting US Energy Department statistics, oil heat prices threaten to jump anywhere from 25% to more than 60%. "Owners seem to hope for the best, but they are prepared for the worst," Shanahan concludes.
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John Salustri
John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
