Since it doesn't look like oil is "coming back", how do I get rid of a brand new tank?

Jells

When I purchased a multifamily in 2012 the owner had just pulled the underground tank (with permits etc) and installed this tank in the walk-out basement. I immediately changed the boiler to gas, but on the recommendation of the contractor (Jstar for those who remember him) put in an oil boiler with a gas burner, in part as a hedge against oil somehow, someday, being cheaper than gas and just swapping the burners back.

Now it looks like that won't ever happen, and I'd like to recover the space for storage. The tank is still 1/4 full, and basically brand new. Is there any market value? If there isn't can I get someone to pull it for the salvage or is it going to cost me? The 100 odd gallons of fuel have to be worth something too, or does oil go bad?

EdTheHeaterMan

Oil has a shelf life. The sooner you get that oil to someone that can use it the better the oil is. As far as I know... you own the oil and to dispose of it you need to contact a company that removes hazardous waste. That said. Craigslist may have a person looking for someone in your situation. You might get something for the oil but I doubt it. That guy will have a pump and some 55-gallon drums to take the oil away. maybe the same guy will remove the tank too. There are all kinds out there, Some insured ...some ...not so much . Do the research on the contractors you choose. The lowest price may cost you dearly.

Also... what you paid for the tank (or the previous owner paid) is only a small part of the whole job. There is more labor in the price of installing the tank. The wholesale cost of the tank is but a fraction of the total retail job cost. if you are lucky you might get $200.00. If your luck is like mine... be prepared to pay in the 4 figure area for that extra space.

BTW... where are you going to get a better place to store trash-can lids?

Jamie Hall

What do you mean oil isn't coming back? It's still cheaper, per BTU, than LP in my area. And likely to remain so.

Icarus

You can probably have the oil guy come pump it out, or failing that, Craigslist it either cheap or free. I gave away ~50 gallons to a neighbor who ran it into 5 gallon buckets and poured it in his tank, then CL’ed the tank for free. Maybe you could get $50-100 for it, but if you really want it gone, give it away.

Icarus

vtfarmer

Gas is only priced where it is right now due to the hydrofracking boom - mostly in the Permian and Bakken shale formations. If that ever ends (a radically left wing government might try to do this, for example) you will see gas up where it was in 2005 right after Katrina (4+times increase - or more). We may also see liquid biofuels come down in price to where they're competitive with natural gas or better, though that is probably still a ways off.

I'd keep the tank but sell the oil. Stored heating oil may cloud with algae over time (yes, stuff can grow in it) which will make it a PITA to use down the road, though I've run 30+ year old oil through oil burners with no issues before (and also had doing the same thing plug the nozzle in a salamander heater, so YMMV).

Handling the oil, insurance, etc, comes down to you appetite for risk. I run a farm and have a 100 gallon diesel fuel transfer tank in the back of my pickup and handle sizable volumes of this type of fuel regularly both for my machinery and greenhouse; I'm comfortable doing it and don't spill it. I drained the fuel tank on one of my tractors to pull the engine for a rebuild this fall with a hose and pump setup I made for this purpose - easy peasy. Some idiot from craigslist pumping oil through an ancient garden hose with a Home Depot water pump might cause you a disaster. Like anything, ask yourself if you really understand what you're doing, have managed the potential risks, and are confident proceeding.

SlamDunk

If you have natural gas, the odds of returning to oil are extremely low.
There are companies that will safely remove oil for a price. And, you probably wont have a problem selling that tank for the cost of labor to legally disconnect and remove.
You might make a profit. But, you would be lucky to break even. If I lived in your area, I would be calling you for that tank.

HVACNUT

@vtfarmer , yes, the "radical left wing government" might have issues with fire shooting out of your faucet.

vtfarmer

@HVACNUT I didn't mean to pass judgement on a political view or party, only to make an observation of facts (gas is cheap at the moment due to the fracking, the fracking is politically controversial which poses a long term threat to it, and the group which wants to limit or ban it happen to be to the politically farther left - that's all). I didn't word it well for that purpose, my bad!

Jells

vtfarmer said:

Gas is only priced where it is right now due to the hydrofracking boom - mostly in the Permian and Bakken shale formations. If that ever ends (a radically left wing government might try to do this, for example) you will see gas up where it was in 2005 right after Katrina (4+times increase - or more). We may also see liquid biofuels come down in price to where they're competitive with natural gas or better, though that is probably still a ways off.

8 years ago I thought biofuel oil was a real possibility, but I think the intersecting curves of high gas production vs steadily reduced demand via conservation and efficiency vs increased alternative electric production means oil will not be competitive in the foreseeable future.

I'm not a huge fan of fracking but thought it effective at cutting fuel imports. But it got ridiculous when we started exporting gas, that should not have been legal. That's risking our health and environment just to line billionaire's pockets.

@Jamie Hall LP is completely different pricing than municipal NG.

Anyway, thanks for all the responses, food for thought. It sounds like at the least I should try and get rid of the fuel.

Jamie Hall

@Jells -- I know that LP is completely different pricing. For those of us in more rural areas, natural gas is not an option -- even if it were a reliable supply. So it's oil or LP -- or back to basics.

Icarus

^Or heat pump electric, run on PV with oil or gas back up. With a low temp HP no need for back up except in extreme cases.

Icarus

ChrisJ

Jamie Hall said:

@Jells -- I know that LP is completely different pricing. For those of us in more rural areas, natural gas is not an option -- even if it were a reliable supply. So it's oil or LP -- or back to basics.

I'm confused by this.

The OP isn't talking about people in rural areas, or anyone other than their own specific situation.

To them, the chances of oil being cheaper than natural gas, which, they do have, is slim.

They don't care that people in Alaska don't have natural gas.

Jamie Hall

Honestly, I wasn't thinking about natural gas -- I rarely do, since it isn't available in my area and isn't ever likely to be (and we aren't that rural). My bad...

Not that I would count on natural gas staying less expensive. But that's a political consideration, not an engineering or scientific one.

HVACNUT

> @vtfarmer said:
> @HVACNUT I didn't mean to pass judgement on a political view or party, only to make an observation of facts (gas is cheap at the moment due to the fracking, the fracking is politically controversial which poses a long term threat to it, and the group which wants to limit or ban it happen to be to the politically farther left - that's all). I didn't word it well for that purpose, my bad!

No sweat. I'm no tree hugger, but there are concerns with fracking. I'm more of a "Drill baby drill" guy. Black gold, Texas tea.

swihart_art

I like oil... been using it for years and fixing them is easy once you know your way around one...