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4 FEBRUARY 2017 | FUEL OIL NEWS | www.fueloilnews.com DATELINE BREAKING NEWS for the United States to join future deals to limit oil production. OPEC Secretary General Mohammed Sanusi Barkindo stated in mid-December that there could be additional deals by OPEC to further limit oil production and that such future deals would be "incomplete" without U.S. participation. He further stated that "we do not live in a world of energy-inde- pendent nations." In his letter, Senator Markey called on President-elect Donald Trump to reject these comments and pledge that the United States will not negotiate or collaborate with the oil car- tel to manipulate oil markets. The letter reads, in part: "I write to express my concern regarding comments that were report- edly recently made by the head of the Organization of the Petroleum Exporting Countries (OPEC). It was reported [that] the Secretary General of this oil cartel stated that the United States should join future deals to limit oil production. I urge you to immediately reject these com- ments and pledge that the United States will refuse to negotiate or collaborate with OPEC to manipulate oil markets and also oppose any efforts by OPEC to expand its inclusion of additional non-OPEC nations in any future agreements to limit or manipulate oil production. "The suggestion that the United States should work with OPEC is deeply trou- bling. Higher oil prices might benefit oil producers but they do not benefit U.S. consumers or our economy. Economists have a general rule of thumb that each one- penny increase in gas prices translates into $1 billion a year in increased costs to con- sumers. Similarly, each $10 increase in the price of a barrel of oil generally knocks 0.2 to 0.3 percentage points off the growth rate of the American economy. Any effort to manipulate oil markets to increase prices therefore comes at the expense of U.S. con- sumers and our economy more broadly and should be rejected." API CRITICAL OF REVISED EPA FRACKING REPORT The EPA has revised the conclusions to the Assessment Report on Hydraulic Fracturing essentially disregarding sig- nificant scientific findings of a lack of drinking water contamination as a result of hydraulic fracturing in any shale formation where oil and gas resources are being developed, the American Petroleum Institute said. "It is beyond absurd for the administration to reverse course on its way out the door," said API upstream director Erik Milito. "The agency has walked away from nearly a thousand sources of information from published papers, technical and peer reviewed scientific reports demonstrating that industry practices, trends and regu- latory programs protect water resources at every step of the hydraulic fracturing process." Hydraulic fracturing supports millions of U.S. jobs and has helped to put downward pressure on energy prices, the API said. It has also aided in the reduction of carbon emissions through better supply of clean-burning natural gas, driving emissions in the U.S. power sector to 25-year lows, the Institute said. The EPA's original findings are sup- ported by academics and specialists in gas engineering, hydrology and geology and demonstrated no drinking water contamination, the API said. l F O N CORRECTION I n c o r r e c t i n f o r m a t i o n f o r S a v a g e A s s o c i a t e s w a s p u b l i s h e d i n t h e Sourcebook Products & Services Guide in the December issue. Here is the correct information: SAVAGE ASSOCIATES INC. Petro Chem Technologies Martinsville, NJ 08863 Phone: 732-764-7270 Fax: 732-764-7271 Contact: Brian Savage Email: msav123@aol.com Web: www.savageassociatesinc.com Product(s): 6, 7, 22, 25, 27, 31, 33, 34, 36, 44, 47, 50, 53, 56, 57, 65, 66, 69 CALENDAR OF EVENTS MARCH 2017 7th Annual Oil Heat Council of New Hampshire Ski Day March 3 Wildcat Mountain, Jackson, N.H. Contact Lisa Jo Steiner at lisajo@nhoilheat.com for information. The Work Truck Show March 14–17 Indiana Convention Center, Indianapolis, Ind. Website: worktruckshow.com or call 800-441-6832 New York Propane Gas Association Spring Conference & Annual Meeting March 28-29 Desmond Hotel & Conference Center, Albany, N.Y. Website: nypropane.com or call 518-383-3823 MAY 2017 ADD Systems 2017 User Conference May 16–19 Disney's Boardwalk Resort, Lake Buena Vista, Fla. Website: www.addsys.com Eastern Energy Expo May 21-25 Hershey Lodge & Convention Center, Hershey, Pa. Website: www.easternenergyexpo.com JUNE 2017 NEFI Energy Expo June 14-15 DCU Center, Worcester, Mass. Website: www.NEFI.com or call 617-924-1000 E-mail: martha.leshine@nefi.com Northern New England Energy Conference (Maine Energy Marketers Association and Oil Heat Council of New Hampshire) June 19-20 Sebasco Harbor Resort, Sebasco Estates, Me. Contact Lisa Jo Steiner at lisajo@nhoilheat.com for information.