The home heating oil industry has a long and proud history, and Fuel Oil News has been there supporting it since 1935. It is an industry that has faced many challenges during that time. In its 77th year, Fuel Oil News is doing more than just holding
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22 NOVEMBER 2015 | FUEL OIL NEWS | www.fueloilnews.com BUSINESS OPERATIONS N E W S businesses in their state is biased toward big businesses (69% strongly believe). 79% believe that their state is over- spending on big incentive deals, hurting state finances (56% strongly). 87% say that small business interests in economic development issues are not effectively represented in their state's capi- tal (36% strongly). 85% believe that economic develop- ment incentives in their state are not ef- fectively addressing the current needs of small businesses that are seeking to grow (36% strongly). 72% do not believe their state's cur- rent incentive policies are effective in pro- moting economic growth (23% strongly). The respondents lead groups from 25 states, including all but one of the 15 most-populous. They belong to networks formed in the past 15 years, many with economic development missions. None is contracted by state or local governments to perform economic development func- tions such as outside-firm recruitment. "Our next study will examine in great detail how well or poorly state incentive programs treat small, local and/or entre- preneurial businesses versus large, multi- state companies" added LeRoy. U.S. BANK CREDIT CARD WINS MONEY MAGAZINE HONOR MONEY® Magazine announced its an- nual list of "Best Credit Cards " and the U.S. Bank Business Edge™ Platinum product won the "Best for Borrowing" in the Small Business category for the sec- ond consecutive year. MONEY Magazine, in partnership with NerdWallet, chose only fourteen cards in five categories: borrowing, cash back, small business, student, and travel rewards. The Business Edge Platinum Card offers 0% on purchases and balance transfers for the first year, which is great for businesses to pay off large purchases, and there's no annual fee. "To receive this award for our Edge Platinum card two years in a row is tes- tament that the Edge suite of products is meeting the unique needs of the small business community," said Cathi Stanton, senior vice president at U.S. Bank. "We are ecstatic to be awarded this accolade two years in a row." ECFC LEADS CHARGE TO REVISE CADILLAC TAX ECFC, a nonprofit organization promot- ing choice in benefit solutions, continues to lead the charge to revise the excise tax, commonly referred to as the Cadillac Tax. It is calling on Congress to carve out con- sumer directed health plans, which have proved to be one of the most effective ways to reduce healthcare costs. "As currently defined, the excise tax will penalize high-cost health plans as well as consumer directed health plans used by millions of American workers and their families," said Bill Sweetnam, ECFC's legislative and technical director. "We have been working hard to lobby for Congress to repeal the excise tax and, if Congress does not think that is possible, revise the excise tax so that consumer directed health plans are not subject to the tax because we believe it just doesn't make sense to include them." ECFC, an organization of nearly 200 employer members, spearheads the edu- cation and advocacy of consumer directed benefit plans, such as flexible spending ar- rangements (FSAs), health reimbursement arrangements and health savings accounts (HSAs). These plans assist employers and employees in making good healthcare de- cisions and it's estimated that more than 100 million Americans today benefit from consumer directed health plans. Bioheat® fuel has long been marketed as "the evolution of oil heat," and nowhere is that evolution happening more rapidly than in New York City. After the success of the city's B2 mandate, which marked the nation's first Bioheat® mandate when it went into effect in 2012, the New York City Council is weighing a proposal to increase the required blend level to B5 in all oil-heated build- ings starting in 2016. The proposed bill, which has promis- ing support, would further increase the blend level every five years, reaching B20 by 2030. The evolution happening in the city is now happening on- line as well. In a recent redesign of its website, the New York Oil Heat- ing Association (NYOHA)—one of the industry's most influ- ential associations and a strong backer of the Bioheat® man- date—has removed the word "oilheat" altogether, replacing it in each instance with "Bioheat®." While the change may seem subtle, it represents a major shift in NYOHA's messaging to consumers. Not only is it more accurate—Bioheat® fuel is mandated in every borough NYOHA represents—but it eliminates any confusion when the terms "oilheat," "ultra-low sulfur," and "Bioheat®" are used interchangeably. "The simple fact is that Bioheat®—not traditional heating oil—is the fuel being used to heat New York City homes and buildings," said NYOHA chief executive Rocco Lacertosa. "It's about time our consumers are clear on that. Our hope is that before long Bioheat® will not only be a standard household product, but also a household name." That would mark the most significant evolution of all. What's In a Name? NYOHA makes subtle but significant website change By Paul Nazzaro, NBB Petroleum Liaison