Issue link: https://read.dmtmag.com/i/66838
54 • JUNE 2012 • WORLD FENCE NEWS Ask the fuel expert Fuel storage tanks: Convenience or liability? BY JACK LEE, PRESIDENT/CEO, 4REFUEL INC. Nobody likes hassle. That's why many fuel-reliant companies made the decision to use on site fuel storage tanks. It made sense. There was the convenience of having the fuel you needed close at hand, no need to drive to a card lock, and access was of course 24/7. What could possibly go wrong? I'll tell you. Fuel storage tanks do eliminate some of the hassles associated with re- fuelling, but at the same time add a number of liabilities. First of all, fuel theft is a real prob- lem. Security is the issue. Having thousands of litres of fuel on your property makes your storage tank easy prey for organized fuel thieves. These thugs prepare and plan to rip you off and there are many documented cases where these gangs have run away with thousands of dollars in fuel using fuel pumps. If you do not have tight security measures in place you could be at risk. Another common type of fuel theft occurs every day when your em- ployees help themselves to your fuel. It may have started innocently and was even viewed as a perk of employment, but as fuel costs have escalated over the years any amount of fuel taken by employees hurts your business. If you don't regulate this type of theft, it can add up and cost you thou- sands of dollars in lost productivity, because after all, fuel is an investment. Fuel storage tanks do eliminate some of the hassles associated with refuelling, but at the same time add a number of liabilities. Besides, letting staff help them- selves to fuel whenever they want de- livers a message that you are not paying attention to the details. What else can they take? When you open your storage tanks to staff do you know where all that fuel is going and to what piece of equip- ment? Ineffective tank monitoring is really just ineffective management. But today fuel can be measured and managed for a return on invest- ment, just like any other cost associ- ated with your business. For years fuel has flowed from storage tanks without accountability. There were no checks in place, other than a hand written docket with a rough estimate of how much fuel was pumped. Another costly risk of storing all that fuel on your property is of course increased insurance premiums. Unless you have state-of the-art tanks and your people are completely trained on proper handling of hazardous goods, your insurance costs go up. And how about all of the risks to the environment? If there is a fuel spill (and they do happen, whether the boss finds out or not) you are responsible for the expensive clean ups. If you continued on page 56