[Shop-talk] Outdoor Oil Tanks

[PJ McGarvey]

Getting quotes to replace my oil tank as the legs have deteriorated and the
tank is old and getting sludgy.

The question I'm asked is whether I'd like to install the tank outside.  The
recommendation from real estate agents, and parents when I was house shopping
years ago, was to stay away from houses with outdoor (or underground
obviously) oil tanks.

Aesthetically, I don't love the idea, though I do have a good spot where one
would go, and the first order of business would be to hide it with some
fence/lattice/etc since it faces the street.

Until the quotes come in and show the price difference for installation, I
won't make a decision.

Upsides are cheaper install, and a little more room in the basement.

The downsides as I see it are potential damage long term from rain/snow/ice
(unless I put a roof over it or something) damage from branches and trees
which if oil leaked out would be catastrophic for my property.  How my home
insurance would feel about it is an unknown at this point.   Lastly, theft is
definitely a possibility, especially as oil prices climb (though that's still
a possibility with in indoor tank with access to the filler) ...

Opinions?

Thx,
-PJ