This Week in Petroleum, Feb. 8, 2012
The groundhog and heating oil bills
Last Thursday (February 2) was Groundhog Day. Punxsutawney Phil, the Nation's most famous groundhog, saw his shadow that day when peeking out of his burrow. According to legend (and the promoters of the yearly Groundhog Day event in Punxsutawney, Pennsylvania) this means that there will be six more weeks of winter weather. However, as a very wise person once noted, "Prediction is very difficult, especially about the future." Although it sounds like something Yogi Berra might have said, the observation has been attributed to the eminent physicist Niels Bohr. U.S. Energy Information Administration (EIA) staff knows from its own experience that this is true, and we suspect that Phil, who has not had a very accurate record over the last 5 years, would also agree with Bohr.