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BUSINESS: Heading off an energy emergency
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August 18, 2008
Heading off an energy emergency


(NECN: Lauren Collins, Portsmouth, NH) - There were some warm thoughts in New Hampshire today as advocates from all over New England met to brainstorm ways to make sure everyone can afford heating oil this summer.

Don't be fooled by all this sunshine. It may be 88 degrees out today, but we know the New England winter is coming. And, if you remember last winter in New England, your wallet is likely in a panic over what this heating season has in store.

In Portsmouth today, fuel industry leaders, community advocates and reps from the government met to address what could be an emergency.

Home heating oil was just over $2.00 a gallon at the start of last year's winter. Now, it has nearly doubled. And, as more people look for help to pay, there are fewer resources available.

While many are calling for dramatic increases in federal support for heating assistance, others are looking into the possibility of easing the market by releasing oil from New England's $2 million barrel reserve.

So, whether it be more aid or more supply, the solutions out of this meeting have to be short term -- to save both the homeowner and the industry before patience and options run out.

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