On Oct. 17, 1973, the Organization of Petroleum Exporting Countries (OPEC) cut production of oil by 5% and instituted an oil embargo against the allies of Israel.
President Richard Nixon had authorized a strategic airlift of weapons to support Israel after that country was attacked on Oct. 6, 1973. On Jan. 4, 1975, President Gerald Ford signed into law the Federal-Aid Highway Amendment that reduced the national maximum speed limit to 55 mph. The price of gasoline rose precipitously. Non-OPEC oil producers also benefited from this price increase.
In 1974, the cost of oil remained high, and it came to my attention that there was a popular bumper sticker in one oil-producing state that stated “Drive 80, Freeze a Yankee.” As a proud Yankee, I celebrate my frugality and independence. For my fellow Yankees, I want to share some options for frugality and greater energy independence.
The New Hampshire Office of Strategic Initiative publishes a website that lists the current cost of various energy sources. Those costs are listed in dollars per million Btu (MMBTU) and in cost per gallon for gasoline and diesel. The site was updated on Feb. 9 as follows:
— Fuel oil $34.67/MMBTU.
— Propane $54.32/MMBTU.
— Kerosene $40.09/ MMBTU.
— Natural gas (not available west of Milford) $13.69/ MMBTU.
— Resistance electricity (aka electric baseboard) $59.67/MMBTU.
— Air source heat pumps (aka “mini-splits”) $23.87/MMBTU.
— Ground source heat pumps (AKA “Geothermal”) $17.76/MMBTU.
These is not listed on the website, but were calculated by me using a 3.3 COP:
— Gasoline $3.38/gallon.
— Diesel $3.95/gallon.
— Electric (cars and trucks) $1.70/eGallon.
Doug Waitt
New lpswich