We had oil heat from the time we moved into the house in '57, until mid '74. At that time oil had become expensive, so the old Weil-McLain boiler from '52 was removed, and a new Weil-McLain electric boiler was installed. The oil tank was removed from the basement at this time. This made much more space in the furnace room, as the new boiler hung on the wall, and was only about 2.5' x 2.5' x 10". It was also quieter, as the only moving part was the circulator pump (B&G). A new electric service (150A) was also installed just for it, in addition to the existing 200A service for everything else. The first really cold night it caused a power outage, blacking out our house and 4 others. The next day the utility co. came and installed a new transformer on the pole just for our house. This boiler was in use until I removed the entire heating system a while back for the renovation.
As for oil tanks burried outside, my dad's uncle's house had a large one in the back yard. It was put in when the house was built in '36, and used until sometime in the 70's, when the had gas heat installed. I think the old tank was pumped out, then filled with sand or gravel. Never heard anything about it rusting or leaking; maybe it was fabricated from stainless steel or Monel.
I have a friend that's on the Fire Dept., and a few years ago he told me about a call they responded to, due to a basement oil tank overflow. The oil co. came to fill it, and something malfunctioned, which caused several hundred gallons of oil to run out onto the basement floor. According to him, a company had to be called in to remove the oil. Part of the basment was finished, and most of the furniture was ruined, as the oil soaked into anything that wasn't metal. He said the people told him it cost over $40,000 for cleaning and repairs, as it had soaked into the concrete slab, which had to be taken out and a new one poured. They had to move out for over a month, as the whole house smelled of oil.
As for oil tanks burried outside, my dad's uncle's house had a large one in the back yard. It was put in when the house was built in '36, and used until sometime in the 70's, when the had gas heat installed. I think the old tank was pumped out, then filled with sand or gravel. Never heard anything about it rusting or leaking; maybe it was fabricated from stainless steel or Monel.
I have a friend that's on the Fire Dept., and a few years ago he told me about a call they responded to, due to a basement oil tank overflow. The oil co. came to fill it, and something malfunctioned, which caused several hundred gallons of oil to run out onto the basement floor. According to him, a company had to be called in to remove the oil. Part of the basment was finished, and most of the furniture was ruined, as the oil soaked into anything that wasn't metal. He said the people told him it cost over $40,000 for cleaning and repairs, as it had soaked into the concrete slab, which had to be taken out and a new one poured. They had to move out for over a month, as the whole house smelled of oil.