The OilSpot News by DTN
Monday, February 2, 2009 VOLUME 7 ISSUE 337  



Big West Suspending Operations at Bakersfield Refinery
ATA Truck Tonnage Index Sinks 11.1% in December 2008
California October 2008 Gasoline Consumption Drops 5.1% on Year
U.S. Ethanol Production, Stocks Rose Slightly in November
Propel Launches Low Carbon Fueling Stations Network in California
New Generation, First Florida to pursue Biofuel Projects


U.S. Retail Gasoline Average Dips—Snaps 3 Straight Weekly Gains
On-Highway Diesel Average Slides 2.8cts to $2.268 Gal
Home Heating Oil Average Slips 2.1cts to $2.40 Gal
Propane Stockpiles Drawn Down 3.1 Million Bbl Week-ended Jan. 23


Obama Orders EPA to Review California’s Emission Waiver Request
Panda Ethanol’s Hereford Biofuels Files for Bankruptcy
Kinder Morgan Raises Pacific Region ULSD Sulfur Content
Washington Biodiesel Plant obtains BQ-9000 Certification
EPA Extends December Final Ruling on SPCC by 60 Days
CITGO Delivers 1st Free Batch of Heating Oil in 2009


Economic Indicators


Weekly Rack Postings

NewGen Opens Blender Pump Station
EPA Hints at Waiver for Higher Ethanol Blends in Gasoline

NewGen Fuel opened the first renewable fuel blender pump station in the U.S. in Topeka, Kan., on Jan.28.

Kansas Secretary of Agriculture Adrian Polansky also announced on Jan. 28 in a news release that he is making permanent the guidelines his department developed for the NewGen Fuel pilot project to allow at-the-pump blending of biofuels.

ICM Inc., Crescent Oil Company and POET collaborated on creating NewGen Fuel, and opening the station that offers E10, E20, E30, E50 and E85 fuel through blender pump technology, widening options for local flex fuel vehicle owners. Most Kansas stations that sell ethanol fuel only offer E10 and E85 blends.


[FULL STORY]
 

Shrinking Freight Hauling Capacity
USA Truck says Declining Diesel Costs Benefit Outmatched by Grim Economy

Freight hauler USA Truck, Inc. reported a 2.9 percent decrease to $92.9 million in base revenue for the fourth quarter 2008 compared with the comparable year-ago period, with Clifton R. Beckham, company president and CEO, pointing to a dismal economy for the decline.

“Freight conditions during the fourth quarter were quite possibly the most challenging that we have ever experienced and that opinion is supported by several truckload industry indices and an avalanche of macroeconomic indicators,” said Beckham.

The CEO of the Van Buren, Ark.-based company said the decline in diesel fuel prices during the quarter “was not sufficient to offset deteriorating freight demand throughout the quarter. Beckham said that it is the company’s belief that “lower diesel prices provided a working capital boost to marginal carriers during the quarter, thus allowing them to continue their operations thereby exacerbating the imbalance between industry truck supply and freight demand.”


[FULL STORY]
 



Do you expect demand for distillates, currently down 3% against year ago, to improve in the second half of 2009?
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