There are things you can do tomorrow to start saving money with your existing system. By Using a Honeywell programmable setback thermostat that lowers the temperature 10 degrees while you sleep/at work you can save 10% on your heating bill, NOW.
Honeywell ChronothermThe oil vs gas debate can be complicated as there are many factors you want to consider. It is true that you get more BTU’s from oil than gas but where I live(VT) I can get Natural gas that is significantly cheaper to run gas over oil. You can follow Energy prices
here.
I’m biased in that in the long term I believe that we will spend less for Natural Gas as we simply have a lot more if it close to us(US & CAN) than oil. There is some good information on our
gas reserves..
The biggest ways you can save money have little to do with oil vs gas but the details of you home and heating system:
1. Make sure you home is well insulated and free of leaks. The easiest way to save 20% on your fuel bill is to add insulation in the attic. If you have less than R-22, you could probably benefit by adding more. Most homes in New England should have between R-38 and R-49 attic insulation. If your attic and walls are insulated, an uninsulated basement can account for one third of your heating bill, whether you heat your basement or not. Your above ground basement walls have the same insulating value as a double-paned window.
2. If you are staying in your home a while put in the highest efficiency boiler that you can(ideally Energy Star Rated).
Low Mass boilers are the way to go.
My view is that at this point Oil vs Gas is a personal opinion as good arguments can be made both ways today. In the long term Gas is going to be cheaper to buy and cheaper to run. 80% of North America has access to Natural Gas which means that the more innovative and efficient products will be offered to Gas customers first by manufacturers as the market is larger.
Just look at Europe. The Europeans, who every day face energy costs 2-3 times higher than the US, have developed significantly more efficient equipment. Almost all of it being for Natural Gas(as they use it more). US trade folks are still selling equipment in the mid 60% range when in England or Italy if you buy a new boiler it 89+% efficient.