By Samuel Diamond, Editor, Oil & Energy (firstname.lastname@example.org)
Kirk Blanchard of Hedge Solutions discusses the incoming IMO 2020 regulation and its possible impacts on the heating fuel industry.
NEFI hosted its Annual Board and Member Meeting on Wednesday, June 5 at the MGM hotel in Springfield, Massachusetts. The day kicked off at 9:30 a.m. with the annual EFI meeting, including a discussion of the successful NEFI Energy Leaders program held earlier this year in partnership with the Tuck School of Business at Dartmouth College. The meeting also provided a preview of big things to come at this year's first annual NEFI HEAT Show, which will be held September 15-18 at Rhode Island Convention Center in Providence, RI.
After the EFI meeting adjourned, NEFI Board Chairman Peter Aziz and President & CEO Sean Cota gave their annual reports, as did each of the organization's committee chairmen. Following a brief break for lunch, Sean welcomed Kirk Blanchard of Hedge Solutions to the podium to discuss the IMO 2020 global marine fuel regulation and its possible implications for the heating fuel industry. (More on this to come at the NEFI HEAT Show so don't miss it!) Next, NEFI Regulatory Counsel Mark Morgan offered an update on important regulatory developments, including proposed hours-of-service reforms. Finally, NEFI Vice President & Director of Government Affairs Jim Collura rounded off the event with an informative presentation on emissions-reduction policies and electrification initiatives being adopted throughout the Northeast.
NEFI Vice President Jim Collura displays an infographic showing the environmental benefits of B20 Bioheat® fuel. Seated left to right are NEFI Immediate Past Chairman Mike Estes, Secretary Pam Giordano, Vice Chair Ted Noonan, Chair Peter Aziz and President Sean Cota.
In response to these policies and initiatives, NEFI offered a new resolution on its efforts to protect the industry. The resolution, which was approved unanimously, represents a landmark moment for both NEFI and the industry at large, as it calls for "research, development and deployment of advanced biofuels, cellulosic feedstocks, and space heating technologies necessary to achieve a 50% reduction in fossil fuel-based carbon emissions within the heating oil industry by 2030, and provide a net-zero carbon emissions profile by 2050." Perhaps most importantly, the resolution states, "NEFI will henceforth refer to the heating oil industry as the 'renewable liquid heating fuels industry' to better reflect its commitment to a low carbon and energy independent American economy, and in acknowledgement of the unparalleled achievements of its members in this regard."
NEFI Chair Peter Aziz reads from NEFI's historic resolution on renewable liquid heating fuels. To his left are NEFI Vice President Jim Collura, President Sean Cota and (seated) Massachusetts Energy Marketers Association President Michael Ferrante.
Click here to read the NEFI Resolution, "Renewing Our Commitment to Renewable Liquid Heating Fuels."