National Petroleum News (NPN) has been the independent voice of the petroleum industry since 1909 as the opposition to Rockefeller’s Standard Oil. So, motor fuels marketing and retail is not just a sideline for us, it’s our core competency.
Issue link: https://read.dmtmag.com/i/25410
FULLSERVICE Hello 2008 W E HEAR THE TALK ALREADY FROM THE SAME GROUP OF characters. On just about any given day you can read a headline from some analyst at an investment bank talking up oil prices north of the $100.You almost never hear them talking about any challenges to higher oil prices. For example, pointing out things like the current social and economic instability in China just might, at some point, turn that country’s economic miracle into the type of political miracle we are now seeing in Egypt. In this issue we’re going to take a fairly thorough look at what’s driving oil prices. It’s an issue the magazine of covered in-depth for about 100 years. It’s been quite amazing.When I started covering the industry, about 11 years ago, the big issues were volatility related to refining capacity, a Balkanized fuel supply,EPA regulations and the occasional hurricane that would knock out a tremendous quantity of physical oil production and distri- bution.Now… That’s what we’re going to take a look at,the now. There are two arguments at work as to why we see oil prices sud- denly boldly going where they’ve never gone before.One argu- ment states that the real world supply and demand issues tied into a peak oil style concept dictate that a barrel of oil should be well above $40 or $60 per barrel because production is waning and the Chi- nese have found the open road.Frankly, there is some reality to that, but is there an extra dollar a gallon reality at the pump? That brings us to the other part of the argument—that the financial mar- kets have been allowed to enter a deregulated state where huge investment banks doing the bidding of pension funds and other major financial players have cre- ated a supply and demand problem with futures contracts themselves and not necessarily the physical product they represent. Our coverage has tended towards supporting the latter argument because it is very compelling.I suppose I could be biased,but as a fairly strong libertar- ian type it’s not my nature to be promoting government regulation.The same holds true for the industry and its trade groups. If the impact on our industry was not so severe from these high prices and the tremendous volatility there would not be any industry involvement in the process.We have enough to worry about elsewhere. Keith Reid EDITOR-IN-CHIEF kreid@m2media360.com THE SOURCE FOR PETROLEUM AND CONVENIENCE MARKETERS EDITORIAL OFFICE 1030 W. Higgins, Suite 230 Park Ridge, IL 60068 EDITORIAL STAFF Editor-in-Chief Keith Reid kreid@m2media360.com (847) 720-5615 Associate Editor Debra Reschke dreschke@m2media360.com (847) 720-5618 CONTRIBUTING WRITERS Stephen Bennett Maura Keller Terry McKenna Mark Ward, Sr. PRODUCTION Art Director Andrew Stamm Production Manager Karen Kalinyak EXECUTIVE STAFF President/CEO Group Publisher Marion Minor LIST RENTAL/REPRINTS Cheryl Naughton Phone: (678) 292-6054 Fax: (360) 294-6054 cnaughton@m2media360.com ADVERTISING & SALES National Account Manager: Tom Buttrick 135 E. 55th Street, 5th Floor New York, NY 10022 (212) 588-9200, 1325 t.buttrick@jamesgelliott.com CLASSIFIED SALES Glen Datz 626 Wilshire Blvd., Ste. 500 Los Angeles, CA 90017 (213) 596-7200 gdatz@m2media360.com President/CEO Marion Minor VP Finance and Operations Gerald Winkel VP Audience Development and Collateral Services Joanne Juda-Prainito Production Director Mary Jo Tomei NPN—National Petroleum News (ISSN 0149-5267) is published nine times a year by Bev-Al Communications, Inc. 1030 W. Higgins Road, Suite 230, Park Ridge, IL 60068. ©2011 NPN—National Petroleum News. Basic subscription rates for one year to individuals in the petroleum marketing industry are: U.S. $64; Canada $74; Foreign surface mail $80; Foreign airmail $117. Single copy price: U.S. $8 (includes first class postage). Canada/Mexico/Foreign $12 (includes airmail postage). Special Issues: Buyer’s Guide: U.S. & Canada $30; Foreign $35, C-store Survey: U.S. & Canada $40; Foreign $45. All payable in U.S. currency. The publisher reserves the right to accept or reject any subscription.® Title registered in U.S. patent office. Change of address: Provide old mailing label and new address; include ZIP or postal code. Allow 6-8 weeks for change. Send correspondence regarding subscription service or orders to: NPN Magazine, PO Box 2121, Skokie, IL 60076- 7821, (847) 763-9565. Periodicals postage paid at Park Ridge, IL and additional mailing offices. Postmaster: Send address changes to National Petroleum News, PO Box 2121, Skokie, IL 60076-7821. CORPORATE OFFICE 1030 W. Higgins Road, Suite 230 Park Ridge, IL 60060 (847) 720-5600 Fax: (847) 720-5601 SUBSCRIPTION CUSTOMER SERVICE Phone: (847) 763-9565 Fax: (847) 763-9569 4 JANUARY/FEBRUARY 2011 NPN Magazine www.npnweb.com