FUELS
EIA N E W S
12 DECEMBER 2015 | FUEL OIL NEWS | www.fueloilnews.com
REGISTER NOW FOR
THE NATIONAL BIODIESEL
CONFERENCE & EXPO
Registration is now open for the 2016
National Biodiesel Conference & Expo
(January 25-28) in Tampa, Fla. This event
is a can't-miss in the world of biodiesel. The
conference features networking and edu-
cational opportunities that aren't available
anywhere else.
Register at www.BiodieselConference.org.
TANK UTILITY WINS
CLEANTECH COMPETITION
Tank Utility, a leading provider of metering
software and infrastructure for delivered
fuels, won the Northeast Regional Finals
for the Cleantech Open.
Cleantech Open is the largest accelera-
tor of clean tech startups. Tank Utility's win
was decided Monday night and carries with
it a prize of $15,000 in cash and additional
in-kind support.
Also, as a regional winner, Tank Utility
will advance to the Global Cleantech
Forum in San Francisco November 17-19,
gaining worldwide recognition and com-
peting for $200,000 in cash.
The Northeast Regional Finals competi-
tion included pitches from more than 30
regional contestants, culminating with the
judges choosing eight finalists to give 10
minute pitches for the final decision.
The judges evaluated the contestants
based on their ability to succeed as a scal-
able business as well as their ability to
create a more environmentally sustainable
economy. They were persuaded that Tank
Utility has found a viable business model to
address an acute market need.
Tank Utility pitched a value propo-
sition for smart metering and software
technology in the delivered fuels indus-
try. The evidence presented stated that
creating an industry standard of tank
level monitoring will earn money for
fuel suppliers and cut carbon emissions
by avoiding unnecessary fuel deliveries.
Tank Utility's mobile apps improve the
sentiment of fuel consumers toward their
suppliers, increasing customer retention
and lifetime value.
Principal contributor: Rebecca George
EIA: High Distillate
Fuel Oil Inventories
in Central Atlantic
Weighing on
Distillate Spot Price
Stocks of distillate fuel oil in the Central
Atlantic, which encompasses the New
York Harbor region, have risen nearly
every week since April, reaching 36.9 mil-
lion barrels as of October 30. This level
is 9 million barrels above the five-year
average and 14.6 million barrels above
the same time last year. The relatively
high levels of distillate inventories are
depressing distillate prices in the New
York Harbor spot market.
O v e r t h e p a s t f e w y e a r s , t h e
need for distillate inventories in the
Central Atlantic Region (Petroleum
Administration for Defense District or
PADD 1B) has decreased because of
the gradual decline in the demand for
heating oil, the aggregation of high, low,
and ultra-low sulfur specifications into
just high and ultra-low sulfur distil-
late, and the ability to import distillate
Source: U.S. Energy Information Administration, Weekly Petroleum Status Report
Source: Bloomberg L.P., CME Group