Heating oil facts for kids
Heating oil is a special type of oil that people burn to heat buildings. Think of it like a fuel for a big heater, called a furnace, inside homes and businesses.
This oil usually arrives at buildings in a big tanker truck. It's then stored in large oil tanks, often in the basement or right outside the building.
Heating oil is usually colored with a dye. This helps make sure it doesn't get mixed up with fuel used for cars or other vehicles.
Heating oil is also known as No. 2 fuel oil. It makes up about 25% of what we get from a barrel of crude oil. This means it's the second biggest product from crude oil, right after gasoline.
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Why is Heating Oil Important?
Heating oil has been a common way to warm up buildings for many years. It provides a lot of heat when it burns. This makes it a good choice for heating homes, especially in colder places.
Environmental Concerns
If heating oil leaks from its tank, it can cause big problems for the environment. Even a small leak can pollute the ground and the water underground. This is called groundwater pollution.
When groundwater gets polluted, the water from wells and springs can become unsafe to drink. The chemicals in the oil are bad for both people and animals. So, it's very important to store heating oil safely and check tanks regularly.
Heating Oil in the Market
Over time, the use of heating oil has slowly decreased. Other fuels, like liquefied petroleum gas (LPG), have become more popular for heating.
Big companies and investors can buy and sell agreements for heating oil. These agreements are like promises to deliver large amounts of oil later, at a set price. These deals often involve huge amounts, like 42,000 gallons of oil! Prices are often based on delivery in New York City harbor, which is a major trading spot.
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Images for kids
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Illustration on where the parts of an oil storage tank that require inspection may be located. Tank design may vary from tank to tank.
