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D A T E L I NE LEGISLATION INTRODUCED TO SUPPORT NORA New bipartisan legislation to renew and strengthen the National Oilheat Research Alliance has been introduced in the United States Congress. Home heating oil associations around the country are praising the development, calling it "an expression of the oil heat industry's com- mitment to bring to consumers the most environmentally responsible, efficient and domestically-produced home heat- ing fuel possible." Since the federal law authorizing the NORA program expired on February 6, 2010, the industry has been working tire- lessly to introduce legislation to renew it. The new legislation enjoys broad support from the industry and lawmakers from the region, as well as several prominent environmental advocacy groups such as Environment Northeast (ENE). The bipartisan legislation was intro- duced as H.R.1756 in the House of Representatives by Representatives Charlie Bass (R-NH), Peter Welch (D-VT), Frank Pallone (D-NJ) and Leonard Lance (R- NJ). It was introduced in the United States Senate as S.949 by Senators Jeanne Shaheen (D-NH), Jack Reed (D-RI), Olympia Snowe (R-ME), Bernie Sanders (I-VT) and Richard Burr (R-NC). If passed, this legislation will: • • • Renew funding for programs to edu- cate consumers on: the benefits of oil heat, important service and safety practices, useful tips to increase energy efficiency and conserve fuel, the latest in oil heat technology and renewable alternatives, and countering common oil heat myths; Redirect more funds for research, development and deployment of new ultra-efficient oil heating technolo- gies, such as ultra-efficient equipment, biofuel-blended product and the integration of solar equipment as a com- plement to existing heating equipment; Strengthen the national oil heat certi- fication program for technicians and home energy conservation profession- als; and FEATURED NEWS Legislation to support NORA Curbing gas, oil price volatility USDA advanced biofuel payments Cost of crude up ConocoPhillips seeks Trainer, Pa. refinery buyer 2011-2012 ICPA Chair R. W. Beckett acquires Oil Equipment Manufacturing NORA Education Center relocates Rectorseal acquires Airtec assets • Renew NORA through most of the decade. To support these efforts, visit the SupportNora.Org website at: www.sup- portnora.org/bill.php. LAWMAKERS OFFER NEW PLAN TO CURB GAS, OIL PRICE VOLATILITY In a move supported by both the New England Fuel Institute and the Petroleum Marketers Association of America (as part of an association of over 250 groups) new legislation has been introduced to solidly clamp down on the potential for excessive speculation in the oil markets. As noted by NEFI, the federal agency tasked with regu- lating the commodity derivatives already has broad authority to impose specula- tion limits under last year's new Wall Street Reform Law. The CFTC is expected to vote on a final rule on October 4, after eight months of delay, but a leaked draft of the proposed rules shows them to be watered down and regulators do not plan on impos- ing aggregate limits on speculation as a class of trader – a major priority for NEFI. Bill Nelson (D-FL) and U.S. Rep Peter Welch (D-VT) and a handful of other law- makers late yesterday filed a legislation on Sept. 21 that aims to drastically limit the ability of speculators to artificially drive up energy prices. Nelson was joined by Sens. Jay Rockefeller (D-WV), Bernard Sanders (I-VT) and Richard Blumenthal (D-CT) who co-sponsored the Senate version of the bill. U.S. Rep. Rosa DeLauro (D-CT) joined Welch on the House version. Under the legislation, no single inves- tor could hold more than 5 percent of the oil futures market thereby greatly reducing speculators ability to manipulate prices. And because more speculators have jumped into the oil flipping business, the bill caps the overall level of speculation in the market at its average over the most recent 25 years. The lawmakers say that could reduce present day levels of specula- tion by more than half. BIODIESEL INDUSTRY APPLAUDS USDA ADVANCED BIOFUEL PAYMENTS The National Biodiesel Board (NBB) on Tuesday applauded the U.S. Department of Agriculture's announcement that it will award millions of dollars in bioenergy pay- ments to spur the production of advanced biofuels such as biodiesel. The payments, authorized under the 2008 Farm Bill, are going to more than 160 producers in 41 states, including dozens of biodiesel companies across the country. "These payments will create jobs and economic activity while helping the biodie- sel industry advance new technologies and improve efficiency," said Anne Steckel, NBB's vice president of federal affairs. "It's another example of this administration's strong commitment to boosting domes- tic production of advanced biofuels and securing our energy future." The payments are authorized under the Farm Bill's Bioenergy Program for Advanced Biofuels, which Congress cre- ated to ensure an expanding supply of domestic energy. Payments are based on the amount of biofuels a recipient pro- duces from renewable biomass other than corn kernel starch. Eligible recipients include biofuels derived from vegetable oil and animal fats, cellulose, crop residue, animal, food and yard waste, and gases from landfill or sewage waste treatment. www.fueloilnews.com | FUEL OIL NEWS | OCTOBER 2011 3