Should we get a heat pump?

Maine homeowner: My husband is convinced that heat pumps cost twice as much to run as oil. I think from his hatred of CMP. I don't know anyone who has one to ask, but are they more expensive to run than oil? I'll use 700 gallons of oil or so for a 1,500 sqft house in a year

Intelligent Tinkering: Have him do the math: 

Thermal efficiency of oil heat depends on the age and technology of the furnace, but anything from 60% for the oldest ones, to 90% for the new super-efficient ones. There are 140K BTUs in each gallon of fuel oil. At the current state average of $5.90/gallon, that's just under 24K BTUs/dollar X 90% efficiency, is $1 for 22K BTUs. A 25K BTU heat pump, on the other hand, draws ten amps, which is 2.2 kWh/hour, at 18 cents/kWh (just under) for CMP's standard offer, which is only 36 cents for 25K BTU, roughly a third of the oil price. At the rate you use oil, the heat pump would pay for itself within a couple-three years. And you get summer air conditioning!