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"That will prevent local oil dealers from using next year's revenue for this year's operating expenses," said Bob Sculley of the New Hampshire Home Heating Oil Council. "So that'll get them through this year's heating season without using future monies and putting that operation in jeopardy, potentially."
In a new bill under consideration by the Senate Commerce Committee, oil companies wouldn't be Adidas Primeknit Waterproof able to offer pre buy Adidas Los Angeles Black Core
"This winter's experience crystalized people on the issue, and they realized that there is a risk involved and we need to do something so those contracts are better secured," said Assistant Attorney General James Boffetti.
"You have somebody that wants to pre pay upfront, they give their money to a company, and then how do we oversee that company because it needs that money to buy futures contracts or buy the oil itself?" Sanborn said.
Much of the concern centers on pre buy contracts in which customers pay for their oil months before the winter in an attempt to get a better deal.
THE CONCERN IS FOR THOSE WHO PAY FOR OIL MONTHS BEFORE THE WINTER TO GET A BETTER DEAL. IT MIGHT SURPRISE YOU THAT LAWMAKERS ARE LOOKING AT WAYS TO TIGHTEN CONSUMER PROTECTION OF PRE BOUGHT OIL CONTRACTS. FOR A LOT OF OIL PRE BUY CUSTOMERS, THIS WINTER WAS A DISASTER. UNABLE TO HEAT THEIR HOMES FOR WEEKS BECAUSE OF SO MANY CASES NOT BEING DELIVERED. IT CRYSTALLIZED PEOPLE ON THE ISSUE AND THEY REALIZED THERE WAS A RISK INVOLVED AND WE NEED TO DO SOMETHING SO THOSE CONTRACTS ARE BETTER SECURED. CONSUMERS ARE NOT PROTECTED AT ALL THAT AND THAT AND THAT HAS BEEN THE CONCERN SINCE THEY WON. DAY ONE. OIL COMPANIES WOULD NOT BE ABLE TO OFFER PRE BUY CONTRACTS UNTIL MAY. THEY CAN OFFER AS EARLY AS JANUARY THE WINTER BEFORE RIGHT NOW. IT WILL STOP THEM FROM USING NEXT YEAR'S REVENUE FOR THIS YEAR. IT WILL GET THEM THROUGH THIS YEAR'S HEATING SEASON WITHOUT USING FUTURE MONEY. A REPUBLICAN SENATOR SAYS IT IS NOT THAT SIMPLE. IF SOMEONE ONCE THE PRE PAY UPFRONT, HOW DO WE OVERSEE THAT COMPANY AND ITS ABILITY TO CONTINUE TO OPERATE? UNDER THIS BILL, THE ATTORNEY GENERAL'S OFFICE WOULD BE CHARGED WITH MUCH OF THE OVERSIGHT AND IT WOULD ADD LANGUAGE THAT TRANSLATE TO ENFORCEMENT MUSCLE. THAT MAKES IT A CRIME NOT TO Adidas Original Trainers Ebay
Under the bill, the Attorney General's Office would be tasked with much of the oversight, and it would also add language that translates to enforcement muscle.
"Consumers aren't protected at all, and that's been the attorney general's concern since day one, going back eight years that there's no teeth in our law," said Rep. Donna Schlachman, D Exeter.
Bill would provide protections for oil pre
been looking at ways to tighten consumer protections on pre buy oil contracts for years, but nothing much has happened. The problems Fred Fuller Oil experienced this year have given the effort new attention.
DELIVER THE OIL. RIGHT NOW, THERE IS NOTHING THAT SAYS IF YOU DON'T DELIVER IT YOU ARE BREAKING CONSUMER PROTECTION. DESPITE THE ATTENTION GENERATED, THOSE IN THE HOME AND HEATING OIL BUSINESS ARE QUICK TO POINT OUT THIS IS NOT AN INDUSTRYWIDE PROBLEM AND IS A
Despite the attention generated by the Fred Fuller situation this winter, those in the home heating oil industry are quick to point out that it isn't an industry wide issue.
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"That makes it a crime not to deliver," Schlachman said. "Right now, there's nothing that says that if you don't deliver, you are breaking consumer protection."
contracts until May. They can currently start offering pre buy contracts as early as January the winter before.
But Sen. Andy Sanborn, R Bedford, said the issue isn't that simple.
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