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October 27, 2003
ENERGY BILL AGAIN IN TROUBLE; AGREEMENT ELUSIVE
A week after negotiators reached a “deal” on the fuels title of the pending Energy Bill – as we reported in our last edition – the overall bill is again facing difficulties. Twice in the past 10 days a schedule has been announced for a final meeting of the Conference Committee, and twice it has been postponed.
The latest postponement was of a meeting scheduled for tomorrow (Tues., Oct. 28) to give final approval of the bill. Republican negotiators had promised to release the actual wording of the final bill on Sunday morning, to give everyone 48 hours to review it before voting. But late Friday, Sen. Domenici (R-NM) announced that Tuesday’s meeting would have to be postponed. In his announcement, in which he said he was “deeply disappointed”, he blamed the impasse on House insistence on MTBE liability protection without a phase-down, House insistence on some proposals to amend the Clean Air Act, and an impasse between Sen. Grassley (R-IA) and Rep. Thomas (R-CA) over reform of the excise tax on ethanol and other renewable fuels issues. He further stated that an energy bill will be passed eventually, but hinted it might not be this year. Whether this was a tactic for negotiating purposes, or whether he is really beginning to think the bill will die, is unknown.
For his part, Rep. Tauzin (R-LA), chairman of the House conferees, said, “No one said this was going to be an easy process, but the sky is not falling, and I remain convinced that Congress will deliver a comprehensive national energy bill this year.” He added that “we have many reasons to finish our job – and no good reason not to do it.”
Although Congress is running short on time before adjournment, nobody yet knows how much time is left. Congress is currently working on a “Continuing Resolution” (CR) to provide ongoing funding for the agencies covered by six appropriations bills that have not yet been enacted. That CR is scheduled to run until Nov. 7, which would imply an intent to have appropriations completed by that time. However, most experts are predicting that it could take at least a week longer for Congress to wrap up and go home for the year, and some are predicting they’ll have to stay in session almost until Thanksgiving. Other than appropriations and energy bills, the only major issue Congress is hoping to conclude prior to adjournment is Medicare reform.
HIGHWAY BILL DEAL REACHED?
The Chairmen and the Ranking Minority Members of the Sen. Enviro. & Public Works Committee and its Transportation & Infrastructure Subcommittee announced on Thursday that they have reached agreement on “the major issues” and have scheduled a markup of a long-term Highway Reauthorization Bill for Nov. 5. There was no detail in the announcement by Sens. Inhofe (R-OK), Jeffords (I-VT), Bond (R-MO), and Reid (D-NV). Even if the optimism is justified, this is just the Senate talking – and agreement would have to be reached with the House in order to enact a bill prior to expiration of the current stop-gap authority which runs out Feb. 29, 2004. The House committee plans to release its draft bill sometime before Congressional adjournment next month.
SECURITY ASSESSMENTS
The Senate Environment & Public Works Committee has approved by voice vote S. 994, requiring industrial facilities to assess their vulnerability to terrorism. This bill does NOT cover retail gas stations. However, it does cover most larger petroleum facilities – anyone who has to file a Risk Management Plan under the so-called Bhopal Rule. So far, little interest has been shown in the House for legislation requiring such Chemical Security Assessment Plans.
ENVIRONMENTAL LIABILITY DISCLOSURE
The Sarbanes-Oxley Act of 2002 went into effect on 8/29/02. It requires publicly-held companies to set up systems to assist with the disclosure of environmental as well as financial matters. A detailed legal memo from our attorneys can be found at www.sigma.org/news-n-views/SARBANES.pdf.
NEW YORK PRICE ISSUES
Last Tuesday, New York Gov. Pataki signed into law a below-cost selling law. The bill becomes effective in 6 months, and prohibits retail pricing below 95% of cost.
On a separate matter, a new report by the US Energy Information Administration (EIA) says that New York and Connecticut drivers could see gasoline prices spike by as much as 40 cents per gallon come January, when an MTBE ban takes effect. Even if Congress passes the Energy Bill, it is unlikely to solve the New York/Connecticut problem of having to switch to ethanol-based RFG.
SIGMAPAC SILENT AUCTION
During the Annual Meeting in San Francisco, SIGMAPAC will conduct a silent auction of some very fine wines. SIGMAPAC Chairman Gregg Strasburger is requesting donations to the auction – from those many SIGMA members who are wine connoisseurs! And if you can’t contribute, at least come prepared to bid on the wines. This will be a fun event, and the funds will go to a good cause. Contact him by e-mail to let him know you’ll donate – gstrasburger@strasburger.net. Thanks!
CONGRATULATIONS . . .
. . . to Ted and Sarah Burke on the birth of their son James Thomas Burke on Oct. 18, and to Ed and Pat Burke on becoming grandparents!
COMMITTEE MEETINGS
As you make your plans for the SIGMA Convention, we remind you that there are several committee meetings taking place during the convention. All SIGMA Committee Meetings are open to all members in attendance, whether you’re a member of the committee or not. You can enhance the value of your convention attendance by coming to the committee meetings and participating. Don’t miss out on:
• Fleet Fueling Committee – including a special presentation on “Finding, Qualifying, and Selling Prospects” with 4 members as speakers.
• Marketer Operations Committee – with discussions of several operational areas, and presentations on Wide Area Networks and also on Insurance Buying Options.
• Financial Services Committee – discussion of Auctioning of Retail Sites, plus New Small Lenders.
• Fuel Supplier Relations Committee – presentations on Boutique Fuels and New York MTBE Transitioning Studies.
• Legislative Committee – wide ranging discussions of issues, and an invited Member of Congress as a “dialogue speaker”.
• Membership Committee – a chance to be involved in helping SIGMA recruit new members, and to help us stay strong.
• Information & Education Committee – an opportunity to help direct the kinds of educational programs and published articles YOU want to see SIGMA produce.
• Mobile Refueling Task Force -- a discussion of the "make or break" issues for successful mobile refueling operations.
. . . and more!
SIGMA Weekly Report October 27, 2003 © Copyright SIGMA
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