Southern Fuel has an inventory of 714,000 gallons of heating oil. The futures contracts on heating oil are based on 42,000 gallons. If the firm wishes to fully hedge its inventory, it should take which one of the following positions in heating oil futures contracts?

Select one:

a. Long on 17

b. Short on 16

c. Short on 17

d. Long on 15

e. Short on 15