Fuel Oil News

Fuel Oil News March 2016

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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www.fueloilnews.com | FUEL OIL NEWS | MARCH 2016 3 DATELINE BREAKING NEWS their zip code to find dealers in their area. The locater includes roughly 380 Bioheat® dealers across the Northeast and beyond. The launch of the revamped site coin- cides with the beginning of NBB's 2016 Bioheat® consumer advertising campaign, which includes targeted radio and television spots across several Northeast markets. The campaign will serve as a major driver of traffic to the site, Nazzaro said. Biodiesel—made from a variety of feedstocks including recycled cooking oil, soybean oil and animal fats—is the first EPA-designated Advanced Biofuel to reach commercial-scale production nationwide. Bioheat® fuel is traditional home heating oil blended with Biodiesel. For more information, visit www. mybioheat.com or www.mybioheat.com EIA: CHANGING CONTRACT EXPIRATION DATES WILL AFFECT CRUDE OIL FUTURES COMPARISONS A change to the North Sea Brent crude oil futures contract will alter the way prices for Brent futures are compared to futures prices for West Texas Intermediate crude oil. Beginning Jan. 29, the Brent contract will expire, or rollover to the next month, approximately two to three weeks before expiration of the WTI contract for delivery in the same month. Prior to the change, the Brent contract rollover was only five to seven days ahead of the WTI rollover. With earlier expiration dates for the Brent contract, the prompt month prices for Brent and WTI represent the same delivery period on fewer days each month. For example, on Monday, Feb. 1, the prompt Brent contract will represent crude oil deliveries in April, while the prompt WTI contract will represent deliveries in March. The mismatch will continue for most of the month until the WTI contract for March delivery expires on Feb. 22. Crude oil futures contracts allow crude to be bought and sold for delivery at spe- cific dates in the future, allowing market participants to lock in a price today for the future delivery of a barrel of oil. One of the roles of futures markets is price discovery, FEATURED NEWS DATELINE • API: Administration's Budget Launches Assault on American Consumers • NBB Launches Bioheat Website Redesign with Focus on Consumer • EIA: Changing Contract Expiration Dates Will Affect Crude Oil Futures Comparisons • Philly Nozzle with Sight Glass FUELS/EIA – pg 10 • REG to Acquire Sanimax Biodiesel Plant • Westmor Industries, LLC Purchases Advanced Tank Systems, Inc. • ExxonMobil, Renewable Energy Group to Research Biodiesel from Cellulosic Sugars • EIA: Weather and Lower Prices Cut Heating Costs BUSINESS OPERATIONS – pg 13 • Ken Doyle Named SEPA Chief Operating Officer • Ed Yeaker Marketing • API Launches Website to Connect Veterans to Job Opportunities in Oil and Gas HVAC/HYDRONICS – pg 32 • 65th Anniversary for H&H Sales Company, Inc. • Weil-McLain Celebrates 135 Years of Hydronic Heating Innovations • Products: Wohler USA Launches New Product • WESROC Introduces Residential Cellular Tank Monitor • RLM Small Systems Ultraviolet Lamp Kit from UV Resources Improves Air Quality and Overall HVAC System Efficiency API: ADMINISTRATION'S BUDGET LAUNCHES ASSAULT ON AMERICAN CONSUMERS The administration's final budget proposal, which includes new energy taxes, signals a lame duck assault on American consumers, jobs and our nation's economy, according to API President and CEO Jack Gerard. "No longer constrained by electoral con- siderations, the administration has shifted from a balanced all-of-the-above strategy on energy to an extreme policy objective: to choke off America's energy renaissance and keep fossil fuels in the ground at the expense of consumers. The $10 per-barrel tax hike proposal and other higher taxes on American production proposed in the budget are just the latest expressions of what has been an increasingly hostile cam- paign against American consumers and our nation's economy. "The $10 per-barrel tax hike – which would add about 30% to the cost of a bar- rel of oil and potentially about 25 cents to the cost of a gallon of gasoline, according to reports – should be a wake-up call. This is what 'leave-it-in-the-ground' ide- ology really means: harm to consumers, diminished American competitiveness, weakened energy security and a return to energy dependence. It's a head-in-the- sand movement. NBB LAUNCHES NEW BIOHEAT ® WEBSITE REDESIGN WITH FOCUS ON CONSUMER T h e N a t i o n a l B i o d i e s e l B o a r d h a s launched a new consumer website aimed at raising public awareness around the benefits and availability of Bioheat® fuel. The site, mybioheat.com, replaces NBB's previous Bioheat® website, bio- heatonline.com, which had a split focus on educating consumers and providing tools for oilheat dealers. "Our goal is to provide relevant and accurate information to the everyday homeowner using everyday language so that he or she can make an educated deci- sion on how they heat their home," said Paul Nazzaro, NBB petroleum liaison. "Our belief is that cleaner burning, renew- able Bioheat® fuel is the right decision for many, and our hope is that mybioheat. com will make that decision easier." Along with touting the environmen- tal, economic, and health advantages of Bioheat® fuel, the site features a Bioheat® dealer locater where visitors can enter

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