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LAME DUCK ACTION
Congressional lawmakers returned to Washington on Dec. 4 to conclude the lame-duck session with action on offshore drilling and tax extenders legislation. Both chambers expect to pass a long-term resolution to fund federal government programs and agencies through mid-February. The Senate could also take action on the nomination of Robert Gates, who could be the next secretary of defense. On Thursday, the Senate Finance Committee introduced a 500-page bill that included extension on tax credits, health and trade provisions. It also included a stalled plan to open more than 8 million acres along the Gulf of Mexico to oil and gas drilling and an extension to the 54-cent-per-gallon tariff on imported ethanol through Jan. 1, 2009. The House passed a renewal of a pipeline safety law by voice vote on Thursday. The law includes tougher penalties for energy companies that fail to follow construction rules and, in response to shoddy maintenance that led to disruptions in Alaska oil lines last summer, new federal standards for low-pressure oil pipelines.
LUST FUND
The Senate is poised to pass the last tax bill of the Congress. This bill (HR 6111) includes language to authorize expenditures from the Leaking Underground Storage Tank (LUST) trust fund to help states pay for various reforms passed in the Energy Bill last year. The House passed the bill today, December 8. The Senate is expected to pass it as well.
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REMINDER: ULSD LABELING
According to EPA, surveys of retail stations since mid-October show that about 85 percent of highway diesel fuel meets Ultra Low Sulfur Diesel (ULSD) standards, exceeding the 80 percent regulatory mandate. 100 percent of highway diesel fuel must meet the ULSD standards by 2010. However, data also reveals that a substantial portion of outlets ARE NOT labeling their diesel dispensers at all. In states other than California, EPA requires decals on fuel dispensers to show whether 15 ppm ultra-low-sulfur diesel or 500 ppm low-sulfur diesel is being sold. Marketers risk fines of up to $32,500 per violation if they do not label pumps correctly. Pump labels can be downloaded at www.opisnet.com. On SIGMA.org, an updated EPA diesel pump labeling fact sheet can also downloaded.
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JOIN A SIGMA COMMITTEE TODAY!
Your valuable committee contributions improved the way you (and other SIGMA marketers) do business. Simply put, SIGMA’s committees benefit you by providing a vehicle for best practices discussions with the mavericks in the petroleum industry. You can take full advantage of your SIGMA membership by participating—learning more about how to reduce your costs with the latest and greatest techniques and ideas. Now is your chance to contribute the best you have to offer! If you are interested in continuing your service, or joining a SIGMA committee, please take the time to complete the 2007 Committee Sign-Up Sheet and fax it into the office at (703) 709-7007, Attn: Eileen Moore as soon as possible. It is the time and energy contributed by the membership that makes SIGMA both successful and unique. As always, we appreciate your interest and welcome your participation!
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BOXER’S AGENDA
Senate Environment and Public Works ranking member Barbara Boxer (D-CA) said she will push to reinstate a special tax on oil and chemical industries and other businesses to help pay for Superfund sites that are among the worst contaminated. Congress let that levy expire in 1995. In an interview with the Associated Press, Boxer also said her first hearing next month will focus on ways to address global warming, including her goal of imposing the nation's first mandatory caps on carbon dioxide and other heat-trapping greenhouse gases. She also plans to hold field hearings in Louisiana on the environmental effects of Hurricane Katrina. Boxer said she plans to strengthen the oversight of the Bush administration's environmental record.
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2007 SIGMA PLANNING
Setting up your calendar for 2007? Now is a great time to save money and time by registering for all of SIGMA’s 2007 events before 2006 ends. SIGMA staff will be happy to help you plan your SIGMA year. Just give us a call at 703-709-7000 and we can take care of all of your registrations today.
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ACTION REQUESTED: 2007 MEMBERSHIP DIRECTORY
SIGMA wants to make sure that we have the most up-to-date information for your company in our next membership directory. By now, your company’s key contact should have received a letter in the mail requesting updated information for SIGMA’s 2007 Membership Directory. The deadline to return the updated information is Monday, December 18, 2006. If you are the key contact for your company and you have not received the mailing, please contact Eileen Moore immediately at emoore@sigma.org or (703)709-7000.
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ALWAYS IN SESSION:
THE 110th SENATE SCHEDULE
Incoming Senate Majority Leader Harry Reid (D-NV) outlined a Senate schedule for the 110th Congress that includes much shorter recesses than seen in previous years. Reid’s plans for the Senate include reconvening on Jan. 4 for the swearing in of senators and, after a one-day break, returning for a session until mid-February, where the first recess will be held over President’s Day holiday—Feb. 19-23. No more breaks are included in the schedule until April, when the Senate will be out only one week for its Easter recess, running from April 2-9. Relatively short breaks for other holidays, including Memorial Day and Independence Day, will be the only other breaks in session. The August recess, however, will run from Aug. 6 through Sept. 3.
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WINTER COMMITTEE MEETINGS
SIGMA invites you to make your association even better by kicking this year off right at the Winter Committee Meetings coming up February 8-9, 2007 in Denver, Colorado at the Loews Denver hotel. Make your hotel reservation by calling: (303)782-9300. Be sure to ask for the SIGMA rate of $129.00 (single/double). This meeting provides an outlet for SIGMA members who show interest in our legislative efforts and growing a healthy organization to Get Involved! Via the committee structure, SIGMA provides every member with the opportunity to gain a voice in guiding the association’s policies and direction. After all, it is the time and energy contributed by the membership that makes SIGMA both successful and unique. Register today! Don’t forget that following the Committee Meetings in Denver, you can join us for the SIGMA/NPN/OPIS Executive Leadership Conference in Aspen/Snowmass, Colorado, just a van ride away.
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2007 EXECUTIVE LEADERSHIP CONFERENCE
Get a jumpstart on 2007 and seize the opportunity to grow your business! Map out your business strategy at the SIGMA/NPN/OPIS Executive Leadership Conference. Take advantage of this 4-day opportunity to network with your savvy industry colleagues. Following tradition, this meeting is open to a broad-based group within the petroleum industry and will include SIGMA’s signatures: education, networking and lively social events. Education will include sessions on everything from business relations to strategy fundamentals that will carry your business through a new year, including keynote speaker Philip K. Verleger, Jr. Known as an insightful and thought-provoking speaker, Verleger will share his views on what the U.S. oil markets might look like in the coming decade. Other education sessions include: Common Hedging Mistakes, Improving Domestic Energy Security, The Right Financing for the Right Assets, CEO Marketer Outlook Panel 2007, and Business Analyst Nancy Yamaguchi on alternate fuels! REMINDER: The room block cut-off for the 2007 Executive Leadership Conference is December 15th (next Friday).
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EPA DRAFT
PAPER OUTLINES NAAQS
EPA has released its initial draft of the agency's review of the national ambient air quality standard (NAAQS) for lead. This is the starting point for revising the lead NAAQS, though does not yet include a recommendation on what to do with the standard. It's worth noting that one option under consideration is revocation of the lead standard because ambient air levels of lead are dramatically lower than when the Clean Air Act was first adopted (mostly due to elimination of lead in gasoline). It is expected that EPA eventually will propose a more stringent standard, and is under a court order to make a determination by September 2007. Copies of the draft paper can be found at www.epa.gov.
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ANNUAL MEETING SURVEY
Last chance! Survey closes December 15! If you have not done so already, please fill out the SIGMA 48th Annual Meeting survey by clicking here: http://www.surveymonkey.com/s.asp?u=71752893783.
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SIGMA Weekly Report December 11, 2006 © Copyright SIGMA, 2006
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