According to the U.S. Energy Information Administration, February Heating Oil and Propane Update, U.S. propane supply is well above the five-year average. This increase is the result of mild winter temperatures and continuing strong production. Forecasts currently indicate the potential for record inventory coming into the summer fill season. That is good news for propane retailers, farmers and others looking to fill bulk storage tanks at propane prices that should be well below last year’s cost.
Most everyone is aware that the United States imposed tariffs on steel and aluminum imports last March. So how have those tariffs and other countries retaliatory measures affected propane retailers? As broker/dealers of domestic tanks and bulk storage vessels, we’re in a unique position to get first-hand exposure to the impact of the tariffs on propane storage tank pricing and supply. What we’re
There’s a lot more to moving a large storage tank than simply calling up a trucking company. It also involves loading/unloading services, liability issues and careful scheduling and tracking. Planning and successfully executing the transport of a bulk storage vessel can be tricky and if not handled correctly, may end up costing you significant amounts of extra time and money.
The 2017 Edition of NFPA 58 was approved for use on August 24, 2016. Among the changes included are new definitions and the addition of construction, transportation, and location requirements for skid tanks. Read on to get a better understanding of what the old code said and how the new code paves the way for skidded tanks as permanent installations.
Last year, warm weather reduced heating demand to the lowest level nationally in at least 25 years. More recently, heating degree days for the month of September were lower than average nationwide. The forecast for this winter is calling for colder weather than last winter, but still above normal temperatures.
Consumer anxiety and uncertainty related to the election are real factors that impact our economy. Historically, business in general tends to slow down during election years and research has shown that a slow-down in capital expenditures is common. Businesses don’t like to make big investments during uncertain
As year-end approaches, many propane retail businesses are looking at ways to take advantage of the Section 179 Deduction on equipment purchases they’ve made or are going to make before the end of the year. Many propane marketers are already aware that Section 179 of the IRS Tax Code allows a business to deduct, for the current tax year, the full purchase price of financed or leased equipment and software that qualifies for the