August 2013 • 3
The Front Burner
The Federal Motor Carrier Safety
Administration (FMCSA) requires
strict compliance with Federal drug
and alcohol testing regulations for
motor carriers and drivers. Employers
in violation are subject to civil and
criminal penalties.
The NEFI Alliance Consortium is a
simple, quick and inexpensive solution
to this federal requirement. As a non-
profit group, the NEFI Alliance is able
to offer this comprehensive program
at a most reasonable cost.
Avoid severe fines…
Join today!
Mandatory Drug & Alcohol Testing
Regulations for Motor Carriers…
It’s The Law!
NEFI Alliance Consortium
238 Bedford Street, Suite 2
Lexington, MA 02420
For program information
and application information,
call 617-924-1000,
fax 617-924-1022, or
email
*Figures taken from Energy Information Administration’s “This Week In Petroleum.”
THE BAROMETER
Comparing Heating Oil to Other Financial Products
July 16, 2013
One Year Ago
No. 2 Fuel Oil/New York (dollars/gallon)
2.924
2.831
WTI Crude (dollars/barrel)
$105.88
$88.41
Brent Crude (dollars/barrel)
$109.29
$102.10
10-year Treasury Bill
2.55%
1.50%
30-year mortgage
4.37%
3.53%
Dow Jones Average
15,451
12,727
THE DIFF.
Spot Prices (Cents/Gallon) as of July 16, 2013*
New York Harbor
New York Harbor
U.S. Midcontinent
No. 2 Fuel Oil / Heating Oil
No. 2 ULSD
No. 2 ULSD
2.924
3.045
3.012
Markets Oversight Coalition Testifies Before Senate Committee
The NEFI-led Commodity Markets Oversight Coalition (CMOC) testified before the
powerful Senate Agriculture Committee last month on the need for greater oversight of
commodity futures and swap markets and for greater protections for commodity hedgers.
In its testimony, CMOC reiterated the need for transparent, stable and accountable com-
modity markets. Testifying for the coalition, Eugene Guilford, Federal Policy Counsel
for the Connecticut Energy Marketers Association, urged Congress to strengthen (not
weaken) reforms secured in the 2010 Dodd-Frank Act, many of which are in the final
stages of implementation. The coalition also pressed for robust new prohibitions on and
penalties for fraud and manipulation; stronger limits on excessive speculation; and greater
protections for commodity hedgers. CMOC also argued that energy prices continue to be
disconnected from supply and demand fundamentals and that the federal government
must get to the bottom of this problem and take immediate action.
The committee, which has jurisdiction over all issues relating to commodities trading,
held the hearing to solicit input from stakeholders as it drafts new legislation to reautho-
rize the Commodity Futures Trading Commission (CFTC). For more on the hearing,
visit
.
NORA Reauthorization Legislation Gains Momentum
The campaign to reauthorize the National Oilheat Research Alliance (NORA) is
picking up steam, with new co-sponsors adding their names to legislation in the U.S
House of Representatives and the U.S Senate. As of July 19, 23 House members had signed
on, including 22 Republicans and one Democrat. The Senate legislation, meanwhile, has
13 co-sponsors, including 10 Democrats, two Republicans and one Independent. The
industry is working to recruit as many co-sponsors as possible, focusing on Republicans
in the House and Democrats in the Senate, according to NEFI.
Here is a complete listing of co-sponsors:
House Bill H.R.1985: Lance, Leonard (R-NJ07), Primary Sponsor;Welch, Peter (D-VT), Lead
Democratic Co-sponsor; Dent, Charles (R-PA15); Duncan, Jeff (R-SC3); Frelinghuysen, Rodney
(R-NJ11); Grimm, Michael (R-NY11); Hanna, Richard (R-NY22); Harris, Andy (R-MD1);
Jones, Walter (R-NC3); King, Peter “Pete” (R-NY2); Runyan, Jon (R-NJ3); Smith, Christopher
“Chris” (R-NJ4); Wilson, Joe (R-SC2); Johnson, Bill (R-OH6); Shuster, Bill (R-PA9); Barr, Andy
(R-KY6); Latta, Bob (R-OH5); Stivers, Steve (R-OH15); Petri, Thomas (R-WI6); Huizenga, Bill
(R-MI2); Walden, Greg (R-OR2); Kinzinger, Adam (R-IL16); Rogers, Mike (R-MI8).
Senate Bill S.913: Shaheen, Jeanne (D-NH), Primary Sponsor; Collins, Susan (R-ME)
Lead Republican Co-sponsor; Blumenthal, Richard (D-CT); Coons, Chris (D-DE); Cowan,
William“Mo” (D-MA); Gillibrand, Kirsten (D-NY); Murphy, Christopher (D-CT); Reed, John
“Jack” (D-RI); Sanders, Bernard “Bernie” (I-VT); Whitehouse, Sheldon (D-RI); Schumer,
Chuck (D-NY); Burr, Richard (R-NC); Franken, Al (D-MN).
