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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API'S GERARD OUTLINES THE STATE OF AMERICAN ENERGY IN ANNUAL ADDRESS, RELEASES 2016 REPORT API President and CEO Jack Gerard deliv- ered the keynote address at API's Sixth Annual State of American Energy event, releasing the State of American Energy 2016 report and highlighting the energy issues that will shape America's economic and political news this year. Gerard said, "The United States begins this new year leading the world in energy production, economic growth, and lower- ing our greenhouse gas emissions—a trifecta unmatched by any other country today. The gains we've made and our ability to sustain them in the years to come are largely depen- dent on the energy policies we pursue. "Fortunately, we know how to bring about America's brighter energy future, which means lower costs for American consumers, a cleaner environment and American energy leadership, because it is today's reality. We call it the U.S. model. "As the president's last full year in office begins, we hope that he will take note of and help foster the U.S. model. We hope that he'll see that over regulation—nearly 100 regulations and counting on the oil and natural gas industry—hinders rather than advances what he hopes to be one of his administration's defining legacies, envi- ronmental improvement." API is a national trade association rep- resenting all facets of the oil and natural gas industry. ARCLIGHT CAPITAL PARTNERS ACQUIRES GULF OIL, LP ArcLight Capital Partners, LLC, a private equity firm focused on energy infrastruc- ture investments, announced on Dec. 29 the purchase of Gulf Oil, LP from Cumberland Farms, Inc. The acquisition of Gulf is the second major terminal acquisi- tion by ArcLight in the past twelve months. In a related transaction, Blue Hills Fuels, LLC, an ArcLight affiliate, purchased Gulf's Assured Dealers business. The Assured Dealers business collects rent from over 200 owned or leased, but non-operated, independently franchised sites under the Gulf or Mobil brand that also purchase branded product under contract from Gulf. "Gulf is well-established among con- sumers as a top tier brand and in recent years has experienced significant growth of marketed volumes," said Dan Revers, man- aging partner and co-founder of ArcLight. "The ownership of a major petroleum wholesaler and terminal operator repre- sents a significant opportunity in today's energy industry and is a key component of our investment strategy." Gulf is a terminal operator and whole- saler of refined petroleum products, including heating oil, diesel fuel, and gasoline, and marketed 3.3 billion gal- lons of products in 2014. Gulf owns and operates a comprehensive network of 12 proprietary refined product storage ter- minals, with connectivity via the Buckeye and Laurel pipelines as well as barge access that allows Gulf to source product from Canada, Europe, the Caribbean, and all of the major United States refining mar- kets. Gulf's extensive distribution network includes gasoline retail centers, wholesale distributors, and commercial and indus- trial accounts. Jerry Ashcroft will be president and CEO of Gulf; Ashcroft has held executive leader- ship roles at Buckeye (2009-2014), Colonial Pipeline (2000-2006, 2008-2009) and JP Energy Partners (2014-2015). He is a deco- rated Major in the United States Marine Corps, and holds a Bachelor of Science from the United States Naval Academy and MBA from Goizueta Business School, Emory University. Also on the leadership team is Mike Campbell, chief financial offi- cer, who previously held the role of CFO at Crestwood Midstream Partners and Crestwood Equity Partners, the general partner of CMLP (2012-2015) and Inergy Midstream, LP (2003-2012). Campbell holds a BA in Finance from Kansas State University and MBA from Wichita State University. Ron Sabia, the current president of Gulf, and other members of the senior executive team will remain in key leader- ship roles with the business. ArcLight previously announced the acquisition of Pyramid LLC, formerly www.fueloilnews.com | FUEL OIL NEWS | FEBRUARY 2016 3 Featured News DATELINE BREAKING NEWS DATELINE • API's Gerard Outlines the State of American Energy in Annual Address, Releases 2016 Report • ArcLight Capital Partners Acquires Gulf Oil, L.P. • Renewable Energy Group Praises Efforts to Reinstate Federal Biodiesel Tax Credit • API, Business Coalition File Lawsuit Against EPA's New Ozone Standards • American Energy Coalition Launches New Website FUELS/EIA – pg 16 • Kolmar Americas, Inc. Announces Acquisition of Biodiesel Plant • Clean Harbors Hikes Fees for Safety- Kleen Customers • Prices for Oil and Natural Gas Commodities Fell During 2015 • Average Annual Natural Gas Spot Price in 2015 Was At Lowest Level Since1999 BUSINESS OPERATIONS – pg 29 • Electronic Logging Devices to Be Required Across Commercial Truck and Bus Industries • SEIA Commends Congressional Leaders for Including ITC Extension in Omnibus Bill • ATA: Hours-of-Service Language in Omnibus Bill Critical for Highway Safety • Venture Home Solar Partners With Sunpower by Venture Solar • Pitney Bowes Identifies Five Drivers of Commerce for 2016 • Personnel Changes at Sprague • Tremcar USA, Inc. HVAC/HYDRONICS – pg 38 • AHRI October 2015 U.S. Heating and Cooling Equipment Shipment Data • Manufacturers, Efficiency Groups Praise Landmark Energy-Saving Standards • Firedragon Academy Promotion • Ranshaw's Take on a High-Capability Oil & Gas Service Van