Recent Newsletters
June 2010
Critical News & Information for Businesses
that Depend on Fuel and Fuel Services
Volume 6-10
Fuel Management issues talk to Greece they provided help last week to the fleet fuel markets helping drive down fuel costs by over $11 a barrel for crude oil and near 30 cents a gallon for diesel fuel. While the diesel fuel cost went down on the open market, at the retail station they actually went up another half cent a gallon, leading some to wonder why. We can tell what goes up fast, always comes down slow, especially in fleet fuel.
Transportation firms enjoyed seeing the crude oil prices die because they know in due time they will be seeing the benefits at the truck stop pump. Unfortunately, for almost everyone as crude oil went down so did everything else, including the stock market, taking a hit for almost 1,000 points at one period of time on May 6.
On Friday, May 7, I got to my office early expecting a very busy day with clients wanting to know about locking in fixed price contracts or anything else that they could do to take advantage of this market dip. I listened and watched (out my left eye) as they talked about how fast all of these trades were being made at one time and that there were problems with the trades. Investigation had already begun by Friday morning. A large chunk of the dip in the stock market that day had to do with computerized trading that have algorithmic trading plugged into the program to sell or buy if certain things happen. This can cause a real mess like we saw, especially if you owned Accenture and watched your stock fall to a penny.
The one interesting and very believable story from last Thursday was that some fat fingered trader mistakenly punched in the wrong number of shares, mis-typing billion instead of million, setting off a panic.
Many times during my fuel management career, I have written articles and have been a guest speaker about mistakes that are never caught in the fuel industry. It doesn't matter if you're buying bulk fuel, truck stop fuel, or mobile fuel, somewhere along the line someone's fingers had to enter or not enter something. In fuel, with so many transactions and such big numbers, it's easy for it to happen, so do you do fuel audits on all of your fuel purchases? Read on.
Friday begins about 7 a.m. with the phone ringing, with people asking for our fuel buying advice. I felt good that if you weren't covered by a hedge of some sort for the next couple of months, Friday was the day to do it. By 9 a.m., some of our clients had given us the approval to buy over 55 million gallons of fixed fuel pricing for them. This wasn't a couple of paper trades but wet fuel purchases across the entire country, one or two contracts at a time. Read More
Stay Hungry.
Stay Foolish.
May 2010
Critical News & Information for Businesses
that Depend on Fuel and Fuel Services
Volume 5-10
My original talk is seen below on this column. After what has happened in the last few days in the country I want to send out our best to the people in the Gulf Coast who are recovery from this major oil spill for years. It is incredible that we don't have a better back up plan when something like this happens. I was all for off shore drilling at one point. I think I will rethink that until they show me how to prevent what has happened from happening again.
We send our hopes out to the people in Tennessee. The rain fall that you have seen and the pictures on TV look like something from a movie. I do realize that the whole area down in the South is getting hit so I hope you all make it through the best you can.
We hope that the upcoming summer months are better for everyone. It seems like all parts of the country have taken a beaten from this weather at one time or another this year.
Regards,
Glen Sokolis
President
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Oil is trading at a 18 month high just under $85 a barrel
- Refinery utilization is at 80% compared to 2008 when it was at 90% and diesel fuel was $4.76
- 7% of all fuel invoice have a mistakes
- March 2009 to March 2010 diesel fuel prices increased 96 cents
- Experts are predicting 18 named storms during hurricane season this year
- Oil is traded on the NYMEX in U.S. Dollar, the dollar is not in a strong position and looks to get weaker as we borrow more money to fund health care and other projects, this means it cheaper for other country's to buy oil
- 2% of your diesel fuel budget goes to theft, 4% of your gas budget goes to theft, most of it is internal (your people stealing from you)
- Speculators like to trade hard when the U.S. Dollar is week as a natural hedge against inflation, this happened in 2008, when oil prices went to $147 a barrel
- China's reported April 1 that their economy is growing it's fastest since 2004. They will need more oil to handle that demand
- DEF and Bio Fuel will change your fuel buying, do you have time to keep up
- Over the last year according to the DOE, 2 refineries have shut down and several smaller plants have been idled, it would take a period of time to bring them back up
- Morgan Stanley projects close to $100 a barrel by the end of the year
- U.S. economy is recovering which will increase demand for diesel fuel
- OPEC just met and showed no signs of increasing production
EastCst = $ 3.127
CenAtl = $ 3.238
We have more information today on our fuel purchases than ever before, and this has allowed us to better control where we purchase our fuel, identify theft, and better plan for our consumption and financial reporting.
I would encourage other private fleet operators to explore for themselves the savings opportunities associated with using Sokolis Group services."
Scott F. Claus
Director, Transportation
Cardinal Health
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Are You Sure About That?
Below is an article from the Baltimore Sun. The article is in black print, comments from the Sokolis Group are in red print.
Theft of city fuel admitted
Public works driver resold more than 100,000 gallons of diesel
April 1, 2010
A former Baltimore public works employee has pleaded guilty to stealing more than 100,000 gallons of diesel fuel from the city and reselling it as part of a scheme that went unnoticed for a year and a half. (I can assure you that if they had a good fuel inventory control process in place this would have been caught within 2 months.)
Maurice Boone, 45, was found out Jan. 5, 2009, by a Baltimore County police officer who saw Boone filling several 250-gallon storage tanks with city-purchased diesel at a warehouse on Sparrows Point Road. The officer observed Boone while investigating a car-theft ring.
According to court records, Boone told police and an investigator from the city inspector general's office that the plot had been going on since 2007. The tractor-trailer operator would fill a city tanker from a pump at a landfill on Quarantine Road; make several rounds filling city vehicles as part of his job, then sell the remaining fuel for $1 a gallon to an associate named Jimmy, who would leave money for him at the warehouse rendezvous point. The associate was identified in court documents as James Wright, who is a co-defendant in the case. (At this point in time diesel fuel was selling for over $4.00 a gallon at retail locations. I believe they were selling the fleet fuel for more like $2.00 a gallon.)
Boone pleaded guilty Monday and will receive a suspended eight-year sentence and five years' probation, records show. He must also pay the city $187,000 in restitution, but Baltimore Circuit Judge Lynn K. Stewart delayed sentencing until July, a month after Wright's scheduled trial. (The Sokolis Group has nothing against Mr. Boone except you won't find us hiring him what we are confused about is 100,000 gallons at even $2.00 a gallon is over $200,000. The average price per gallon this fleet fuel over this time period had to be close to $3.00.)
Boone's lawyer, Marc Minkove, said his client - who was fired from his city job in March 2009 - will testify against Wright "if he's summoned."
A charging document pegs the total amount of diesel that Boone stole at 101,305.4 gallons, but public works officials said they weren't sure of the precise number. A spokesperson for the state's attorney's office said that the losses may have totaled as much as $1 million, but that prosecutors were unable to document the extent of the theft because of insufficient paperwork. (If public works officials don't know what the amount is like they say they don't, it is much higher than 101,305.4. How did they come up with the .4? They say the extent may have been close to $1 million so even at $3.00 a gallon for diesel fuel like we said above that would be a theft of at least 333,333 gallons. As a fuel management company, we would believe that number of 333,333 is more like the real number of fleet fuel stolen. As a fuel manager someone should have had some fuel inventory records to catch this amount of fleet fuel leaving the fuel tanks.)
"From our end, we never knew how much fuel the guy was actually stealing," said Robert Murrow, a DPW spokesman.
Murrow added that fuel prices were rising, so the agency did not notice the high cost of diesel invoices being charged to its office. (Sokolis Group agrees fleet fuel prices were rising but that has nothing to do with your fuel inventory and fuel management. Fuel inventory is just like any other inventory, goods come in and goods go out. If you have 500 gallons of fleet fuel delivered, you need to know which vehicles your fleet fuel went. If it only comes out to 450 gallons of fleet fuel and you don't have 50 gallons of fuel still left in the fuel tank, you have a problem. The fleet fuel pricing going higher is a matter of fuel auditing to make sure you paid the correct fuel price for what you bought. Most fuel managers at companies since that job is just part of many jobs don't do a very good job at it because they don't have access to the proper data to be able to understand the fuel market trends.)
Diesel hit a historic high of $4.76 per gallon the week of July 14, 2008, before dropping to $2.01 six months later, according to Department of Energy statistics.
The City should be ashamed of this. When there are fuel management companies out there that can manage all of your fleet fuel buying, fuel auditing, and fleet fuel pricing and checking for a whole lot less than $1 million dollars. For a couple of thousand dollars of month they could have been well service in fuel management by Sokolis Group or some other fleet fuel management company. Who knows who else is or was stealing fleet fuel from them? They don't track their fuel inventory, so it could be millions of gallons of diesel fuel that has been stolen. Maybe before Boone started to steal fleet fuel from them there was someone else that told Boone how to do it. Do you have someone stealing fleet fuel from you? Are you sure? Do you have solid fuel inventory records? How about the prices of fleet fuel are you paying what you should be or are your fuel prices higher than they should be? Do you know?
See our column Friday Fuel in www.truckinginfo under operations.
Glen Sokolis has been a guest on SIRIUS XM Radio, Road Dog Trucking, The Lockridge Report
We will be at the AAA National Conference June 8-10.
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HOT NEWS
B2 has made its mandatory debut in PA.
Yes, starting May 1 all on-road ULSD is to have 2% bio fuel, making it a B2 blend in Pennsylvania
Nothing to report as of yet B2 with any issues taking place so far with the product. We would believe that supply could be an issue in certain areas but nothing to report as of yet.
We would encourage truck fleets to use a Bio Fuel additive, especially in the beginning of this process. Please reach out to use and we would be happy to put you in contact with a quality suppliers of additives. Either call 267-482-6155 ext 103 or email lhermann@sokolisgroup.com.
April 2010
Critical News & Information for Businesses
that Depend on Fuel and Fuel Services
Volume 4-10
Let's talk about Project Earth and the Sokolis Group.
The Sokolis Group is a fuel management and consulting company with a staff of 7 professionals located in Warrington, PA. As a company we work with small and large companies nationally to help them with their fleet fuel buying, managing, auditing and process their fuel information better. Over the last year when fuel prices rose, we helped companies reduce their carbon footprint and how much fuel they consumed. These methods included:
- Having them govern the top speed of their trucks
- Truck engine shut down when loading and unloading to reduce idle time
- Improving driver behavior
- Better maintenance on trucks including tire pressure
While helping other companies reduce their carbon footprint, we realized that we didn't do a very good job ourselves. As Earth Day approaches here are some of the things we have done over the last 2 years.
Our steps have been:
- Energy Star office equipment
- Hybrid American company car
- Image storage on computer instead of printing
- Printing on both sides of the 100% recycled paper when possible
- Recycling paper, plastic, and cans in an office park which do not offer such services
- Low flow toilets
- Computer screen system shut downs
- Energy efficient light bulbs, zoned lighting and temperature set at 78 in the summer months, 66 during the winter
- Plants in all offices to provide oxygen and take away the carbons from office equipments, inks, and toners
- Purchased carbon credits to offset what a typical office creates in carbon for a year at www.carbonfund.org
- Electronic invoicing and receiving all of our bills electronically
As a company, we are not sure how it might separate us from our direct competition. In a world were everyone's business is cross compared to other industries, we feel we out distance ourselves with what we have done and continue to do everyday.
Reduce, reuse, and recycle.
US = $ 3.015
NewEng = $ 3.054
"Sokolis Group has done a wonderful job for our company. Their knowledge of the fuel supply chain is unmatched. They have been able to help us save a lot of money in our fuel procurement and improved our vendor services. I would recommend them to any fleet that does not have a full time fuel manager or who needs additional help on fuel related projects."
Charles Stevenson
Fleet Manager
Aqua America
April showers brings May flowers but you might already have water in your fuel tank!
Spring is in the air.....and there is water in my fuel tank!
This happens more than just in the spring time. You may have an above ground fuel tank or the saddle tanks on your truck may sit in the sun all day long. On your saddle tanks you have warm fuel running back through them, then what happens? At night time it gets cool and causes a little bit of a rain forest in your fuel tank.
The approach of spring seems to bring this problem of issues with water/moisture in fuel storage tanks the most. If your winter fuel supplier used an alcohol based winter additive (we hope they didn't) or a demulsifier to remove water from your diesel fuel the question you have to answer is, "Where did the water go?"
Well all of that water is now sitting on the bottom of your tank. So what are you going to do about it? You need to get that water out of your fleet fuel.
You have a couple of ways to take care of it. It is smart just to have good housekeeping anytime you are talking about fleet fuel or gas. A little extra effort put in on the front end saves you a lot of time and expense on the back end.
Option 1: Pump off the water. The best option but if you don't have enough water to pump off what are you going to do? How much is the cost to pump off the water and dispose of it?
Option 2: Forget about it. This could be very costly in the long run. ULSD has no natural biocide and eventually you will have an algae/fungus/mold outbreak that will stop your equipment or stop you customers, giving you a reputation for having "bad" fuel. The long term effects are tank corrosion and then tank replacement.
Option 3: Treat your tanks with a "drying" agent. Economical and can rid storage tanks of excessive water buildup with multiple treatments.
What type of drying agent to use? The use of an emulsifying agent will allow the water to move into suspension in the fuel and pass through the combustion process.
ULSD has more moisture than diesel fuels of old. Tank maintenance is now more important than ever. Tank maintenance is not just bulk storage either, equipment that sits for long periods can have the same issues of tank corrosion and "bugs".
The proactive approach of using a year-round fuel additive program can consist of two very effective programs:
Program 1: Early Spring-treat all tanks with a drying agent to remove moisture accumulation from the winter season. Follow up this treatment in late spring with a maintenance dose of an algaecide to prevent algae/mold/fungus growth as temps begin to rise. Follow up an additional drying agent treatment in late summer/early fall to remove excess water prior to cold weather to help fuel performance as temperature drop.
Program 2: Begin treating/using a premium package from your fuel supplier or purchase one yourself and treat your fuel year round. Some premium diesel packages have been shown to reduce emissions by as much as 45%, provide lubricity to critical fuel components for longer life, lower soot contamination in oil, and provide fuel economy increases all while helping to manage moisture in your tanks from bulk storage to individual units.
Like with most programs, you want to talk to someone who understands what you are trying to accomplish. Be careful, not all fuel additives are the same; you don't want to be buying something that is snake oil. If you deal with a professional fuel additive person or fuel consultant, you should get what you are looking for at a good price. Drive safe.
If you need help with this kind of fleet fuel program, we are happy to help. Since we leverage our buying for fuel and fuel additive we can probably get you a pretty good rate. lhermann@sokolisgroup.com
March 2010
Critical News & Information for Businesses
that Depend on Fuel and Fuel Services
Volume 3-10
Spring is in the air. Ok, maybe if you live below the Mason Dixon line it is but not here in beautiful Warrington, PA. What is in the air is cold still and a very unruly stock market and fuel market so far for 2010. We are basically 60 days into the New Year and have seen the stock market move 7% down and up and all over. The fuel market even more $83 a barrel to $71 a barrel and back up again for a more than 15% change. All in less than 60 days. Heck, trading days are fewer with the short February and holiday filled January. Diesel fuel is down at least as I am writing this article by 12 cents since the beginning of the year. Of course it's 57 cents higher than this time last year. Let's see what March brings us. In fuel and especially fleet fuel for your trucks, it's always interesting.
As I said in another article in early 2009, what kings want kings usually get. Does anyone remember that crude oil was around $40 a barrel at the time? King Abdullah of Saudi Arabia said the "fair price" for crude oil should be $70 to $80 a barrel. Since June 2009 the King has basically gotten what the king wanted. I don't know if we should expect that to change much until greed kicks in. What I do know is crude oil or the diesel fuel that you put in your trucks is one of, if not the most volatile traded commodities. As crazy as it trades, your fleet fuel vendors can and will charge you whatever they want if you don't understand the game or have time to watch.
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Yawning repeatedly
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Trouble keeping your eyes open
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Losing track of where you are
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Needing to stop short/ tailgating accidentally
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Head feeling heavy or sagging onto chest
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Drifting out of lane or onto rumble strips
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Feeling unfocused or dazed
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Slow reaction/missing traffic signs and signals
Check our website www.sokolisgroup.com. You never know what we'll blog about next!
US = $ 2.861
EastCst = $ 2.902
LwrAtl = $ 2.844
Midwst = $ 2.825
GulfCst = $ 2.819
RkyMt = $ 2.851
CA = $ 3.023
"Any organization that purchases fuel should, at a minimum, talk to Sokolis Group about how they can save them money. The truth is that Sokolis Group has answers to fuel questions that most organizations don't even know they should be asking."
Charon Planning
A few weeks ago Sokolis Group created a survey in Fleet Management, below are a few more interesting results we would like to share with you. Over 500 companies took part in the survey.
2) The number of fuel purchasing seminars you or your staff has attended in the past 2 years is:
Sokolis Response:
February 2010
Critical News & Information for Businesses
that Depend on Fuel and Fuel Services
Volume 2-10
If you haven't noticed for most of the country it's winter time. Being in Pennsylvania we are faced with the coldest month of the year in February. In January, I was in Miami, Florida and they set a record low of 29 degrees, a record that stood for 82 years. I was also in Atlanta; they had lows in the high teens when I was there. During any weather conditions it's most important to be alert to be safe. In wintery weather conditions a safe road can turn into a slippery hazard quickly. Take extra time, use extra caution and get to your destination safely. Remember someone is at home waiting for you. Stay warm.
What are they Now?
How many of you forget something that you were going to do today but you won't remember until tomorrow? I know everyone's hands would be raised if we were in a fleet fuel seminar. If you forgot what you were going to do today until tomorrow, do you remember where fleet fuel prices have been in the last couple of years?
Are you ready for the possible rising oil price storm that looks like it could hit your fleet fueling budget in 2010?
Let's take a step back and remind you where fleet fuel prices have been for both diesel fuel and gas. These are DOE national averages so they could be slightly higher or lower in your area. We have never been big fans of the DOE national average for fleet fuel. As one fuel expert once said to me, "It's like using a globe to find your house!"
Just 24 months ago diesel fuel prices were $3.387 a gallon, gas prices were $3.135 a gallon.
12 months ago diesel fuel prices were $2.299 a gallon, gas prices were $1.72 a gallon
January, 2010 diesel fuel prices were $2.882 a gallon, gas prices were $2.677 a gallon.
If you even remember that this happened, you would say ok, prices came down $1.10 from 2008 to 2009 and went up 60 cents from 2009 to 2010. That story in itself would be pretty dramatic seeing that a $1.10 decrease would be 33% reduction in fuel price from 08 to 09 and a 60 cent increase would be a 21% increase in fuel prices.
The story that takes place in the middle is crazy with fleet fuel cost. How about nationally peaking diesel fuel cost at $4.771 in July 2008. What about the low diesel fuel cost of $2.023 in March 2009. No, we didn't forget about gas that still powers most of our cars. Gas prices topped nationally at $4.099 in July 2008. They hit rock bottom of December 2008 at $1.642.
Yes, I can see the bulb in your head coming on and saying, I remember price swings but $4.099 to $1.642 a change of $2.457 a gallon in less than five months, wow. Wow for sure. Were you and your company carefully watching your fleet fueling cost at that time? I know you were worrying, saying, "what are we going to do?" But were you managing your fleet fuel costs?
Here we are one month into 2010. Are you going sit around wait until things going crazy. Remember most of us didn't think 2009 was crazy for diesel fuel prices but you did watch them go from $2.09 to $2.88 during the year. Almost 80 cents a gallon or a 28% increase in your fleet fuel costs. Remember that most fuel forecasters are predicting $95 crude oil prices in 2010. That would be over $15 a barrel more than where we were for most of 2009. The economy is going to turn around here, and there are 1.6 billion people in China wanting fuel.
Don't forget, plan your fuel management now while you remember.
- Check your tire tread
- Check around your windshield. Make sure you can see clearly
- Clear the snow. Remove snow from your lights and roof
- Recall the icy spots on your naormal driving route
- Brake appropriately
- Watch the gas tank. Keep gas tanks at least half fuel to avoid gas line freezing
- Pack it up. Have a sturdy ice scraper, small shovel, sand/kitty litter, de-icer, booster cables, blankets, flares or other warning devices, cell phone, water bottle and a flashlight with fresh batteries.
- Keep off the cruise control. Hitting an icy pack might cause your car to hydroplane and actually accelerate.
- Bring your patience with you on the road. Traffice will always drive slower than usual in inclement weather. Leave early and expect longer driving time. Do not tailgate another driver in bad weather.
EastCst = $ 2.83.2
NewEng = $ 3.017
CenAtl = $ 2.926
LwrAtl = $2.775
Midwst = $ 2.731
GulfCst = $ 2.744
RkyMt = $ 2.797
WCst = $ 2.876
CA = $ 2.950
"We heard a lot about the Sokolis Group from a few other AAA locations. Everyone had nothing but nice things to say about how much money they saved them and how timely they were with information. We reviewed their offering and couldn't be happier. More important is their people are terrific they take the time to make sure you understand and get what you need. Best of all, we have fleet fuel experts now in our corner."
Tom Renshaw
Sr. Manager, Fleet Services
AAA Auto Club South
Failing Fleets
During the third quarter of 2009 405 fleets failed. An astonishing 14,135 tractors were taken off the road. I repeat 14,135 trucks were taken off the road. That's an improvement from the previous years third quarter. Considering prices for fleet fuel were at an extreme level that isn't saying much.
Fleets failing can be for a number of reasons. It could be due to the industry that company is in, the state of the economy, high fleet fuel prices, or the demand of freight. Whatever the reason is many of them can be from poor fuel management. Believe it or not, but many trucking companies aren't watching their fleet fueling purchases as close as they should be. They set it and forget it. That is not how the oil industry works. Prices of fleet fuel are constantly changing, and you need someone watching on a daily basis doing fuel audits of your fleet fuel purchases to ensure you're getting the best possible fuel price. If you don't watch your fleet fuel vendors they might take advantage and increase their margins day by day.
Here's a perfect example. A fleet that Sokolis Group manages buys a lot of diesel fuel. They have sites all over the country and we have negotiated deals with those fleet fueling vendors. Just last month by doing our daily fuel audits of their fleet fuel, we found an overcharge of $748.04. We contacted the fuel vendor and immediately received a credit in that amount for our customer. This happens every month. If someone was not watching their fleet fuel purchases they would be spending more money for fuel then they need to be.
Not every company will succeed in their business, and that's something that every business owner risks when he starts it. However, the more attention and effort you put in will increase your chances of succeeding. Sokolis Group helps tons of fleets across the country save money on their fuel management. We have a great fuel management team, and we enjoy saving money for our clients buying fleet fuel. Don't let your fleet fail. Try our fuel management services and see where you could be getting charged to much.
January 2010
FUEL LINES
Critical News & Information for Businesses that Depend on Fuel and Fuel Services
Volumne 1-10
As 2010 is sure to bring us many different ups and downs in everyone's fleet fueling and fuel management programs. We decided to take a look at how crazy fuel management was in 2009. The old expression "you don't know where your going, until you know where you have been" rings true in my fuel management ears. Enjoy.
Glen Sokolis
President
If you have an idea or topic you would like to see discussed here or if you would like to contribute an article for future issues, please e-mail me at gsokolis@sokolisgroup.com
2009 Fuel Management in Review:
In 2009 things started off like a lamb and at times felt like a lion but we certainly didn't see any scary lions in fleet fuel buying as we did in 2008. The year started with National gas prices at $1.639 a gallon and diesel fuel at $2.405 a gallon, great numbers if you're a fuel manager overseeing your fuel management program.
It was also around this time that Barack Obama was sworn into the white house, becoming the United States 44th president and bearing the weight of the recession on his shoulders. The winter season of early 2009 unveiled a staggering amount of crude oil inventories, so much so that companies were leasing out tankers to store oil out in the sea. The price for a barrel of crude was around $43 a barrel. Things seemed to turn around slowly but surely.
For the early spring brought not only unmatched amounts of unemployment, but the gradual rise to $40. a barrel in crude oil. April saw a national average for retail gasoline at $2.04; this was amongst news of major car manufacturer Chrysler filing for bankruptcy and news of other vehicle manufactures discontinuing unpopular models flooded the papers. A few include the Saturn Sky and possibly the entire lineup, Isuzu Ascender, Hyundai Veracruz, Honda s2000 and Hummer H3. With the economy seemingly not back on it feet a look at oil was the only lifeline to a positive upturn.
Mid year arrived with oil above $60 a barrel and the stockpiles kept on building to 4.38 million barrels. With all the focus on the fuel industry it was a tough year too for the climate, getting on board to reduce carbon emissions was a goal of many but a success of few. The thoughts of emissions cap or tax weighted heavily on the minds of fleets as the a tax or cap would discourage the use of oil, and put trucking in the hands of newer expensive hybrid vehicles or retrofit current trucks with carbon reducing equipment. With a myriad of hybrid vehicles being tested amongst the general public, only a select few fleets have dabbled in the hybrid world. For example Smith Electric Vehicles just last week went a go with 7 all electric trucks, customers for these zero emissions vehicle include Frito-Lay, Staples and Coca-cola. However until any of these laws or regulations pass the fleet world will remain focused on fuel management.
This year has rounded itself out with August showing an increase of 20.2% in a matter of 3 weeks at one point. But as all things fuel related the markings go down as fast as they can go up. After months of a steady increase October saw a fall, and it was directly attributed to consumers driving less and cutting back on household energy use. It looks like the demand has fallen as the supply only increased. In fact Valero Energy Corp announced it was permanently closing its Delaware refinery, putting over 500 people out of jobs.
As the holidays drew near and people take the time to slow down oil has remained around the $70 mark, and 5seems to be holding nicely there as the inventories fell slightly, and sure while there was much traveling for the holiday there will also be speculation on the new year, after all 2009 did start at a low $43 and finished just under $80.
"You guys are doing well by us- can't think of anything that needs improvement."
David Platt
Vice President, CFO
Acme Corrugated Box Co.,Inc
Put Your Fleet Fueling Policy in Place for 2010
As a new year quickly approaches, it's an ideal time to review current policies that your company has in place. I can't think of a policy that can help your fuel management program better than reviewing what you are doing now for fleet fueling. And if you don't really have a policy, now is the time to start your fleet fueling program.
Establishing a fleet fueling policy makes sense. After all, fuel is usually the single largest variable expense for a fleet of any size. A fleet fueling policy-carefully planned, implemented and enforced can be a company's most effective tool in the battle to reduce unnecessary overspending. In this day and age, saving money and cutting costs are a great way to survive and to add to your company's bottom line.
We have talked about fleet fuel cards before, and the electronic capturing of fueling data at the pump through the use of electronic fleet fuel cards. By doing this, fleet managers now have timely, accurate data they can use to battle waste, abuse, theft and fraud. It is a very important tool in helping to control your fleet fuel spending. People are always surprised to learn that, on average, over 1.5 percent of a company's fuel budget is lost to fuel theft. We are talking about the kind of fuel theft that happens when employees at your company steal fuel from you. Employee theft accounts for 81 percent of the fuel that's stolen. The other 19 percent of the time, an outsider is stealing from you through siphoning or using your fleet fuel card without proper authorization.
If a driver makes a purchase outside parameters set by the fleet manager, such as when a driver buys premium rather than regular gasoline, this information is recorded instantly and appears on a regular billing statement along with the individual driver and vehicle number. Through the use of tools like exception reporting and purchase alerts, fuel managers can enforce cost-saving policies quickly, not weeks after the fact. Hours make differences, and as a fleet manager,you want to be able to quickly enforce your fleet fueling decisions.
We have all heard of fuel management by exception, and when you're dealing with hundreds to tens of thousands of fleet fuel transactions, it is really the best way to go. For many, highlighting problem areas is a very cost-effective, accurate and efficient way to implement, manage and enforce a successful fleet fueling policy. With exception reporting, fleet fueling information is funneled through the company's policy parameters and is sorted to show where, when and by whom fleet fueling policies are being disregarded.
Following are eight tips that will make your fuel management program more effective:
1. Once your fleet fueling policy is in place, the next step is to communicate the new policy clearly to every driver in the fleet. Let them know that all fleet fuel purchases will be monitored and that all exceptions, especially repeated infractions, will need to be justified.
2. Set up the desired grade of fuel for each vehicle. Every time a fleet driver fills the tank with a premium or mid-grade fuel, the company wastes as much as 10 to 25 cents or more per gallon. This can add a lot of money to your fuel management program, so make sure you have controls in place and are watching.
3. Enforce limits at the time of purchase. The most effective way to enforce a fleet fueling policy is to set limits so that purchases outside the limits are not even allowed. For example, if you restrict transactions to two per day, the third transaction will be declined at the point of purchase.
4. Restrict non-fleet fuel products and services. Many fleet managers find it helpful to place restrictions on the kinds of products drivers may purchase. These things could be soda, coffee, car washes, etc. This helps to control costs, quality and consistency.
5. Control the location, days, and time of day for fuel purchases. Frequent fuel purchases made with the company's fleet fuel card outside of business hours are a sure red flag of possible fraud and abuse. Make sure your drivers purchase fleet fuel only during business hours, look for fuel purchases that exceed fuel tank capacity, and eliminate multiple purchases in a single day whenever possible.
6. Mandate one or more fuel brands to help control quality, consistency and the cost of fuel and services your drivers purchase. Take a close look at fueling stations in your area, and select those that offer the best quality for the best price. Those that offer bio fuels and bio diesel can also help lower your carbon footprint, which is becoming a large national topic.
7. Encourage fleet drivers to buy fuel at locations with pay-at-the-pump. Drivers will save time and get on the road faster by fueling at only pay-at-the-pump locations. It will also further reduce any chance of non-fleet fuel purchases inside the store.
8. Most importantly, you need to account for every fleet fuel card every day. Losses can be staggering if just one card falls into the wrong hands. A termination of an employee may occur, or a truck gets put out of service. Be certain to account for those cards. At a small company the loss could be small, but at a large company the loss could top six figures with the rogue use of just one card. These figures are not made up; we've seen it. Losses like this can not only be eye opening to fleet fuel managers but also devastating to a company's financial stability.
If you want to make 2010 a winner for your fleet management program, it is critical for every fuel manager to look at your fleet, identify the areas where you have the most problems and work through them. Having a fleet fueling policy at your company will ensure that your fuel management program is in good shape for the New Year.
Results are In:
A few weeks ago Sokolis Group created a survey in Fleet Management, below are a few interesting results:
1. The biggest obstacle my company fears in 2010 is:
Economic turnaround = 58.6%
Price of fuel = 18.2%
Health Care 8.6%
Not enough good drivers = 6.7%
Insurance Costs = 5.7%
No response = 1.9%
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2. I believe that November 1st Diesel fuel prices would be:
$2.01 - $2.50 gal = 5.7%
$2.51 - $3.00 gal = 45.1%
$3.01 - $3.50 gal = 29.8%
$3.51 - $4.00 gal = 16.3%
$4.51 - $5.00 gal = <1%
No Response = 1.9%
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3.Besides fuel itself, the #1 item your company does to control fuel spending:
Driver Training = 42.3%
Routing = 37.5%
Auto.Tire Pressure Gauges = 1.9%
Automatic Trucks = 8.6%
Oil = 4.8%
No response = 4.8%
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4. My Fleet size is:
Less than 25 vehicles = 22.1%
26 - 150 vehicles = 28.8%
151 - 500 vehicles = 16.3%
501- 2000 vehicles = 16.3%
2001 vehicles or more = 13.4%
No response = 2.8%
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5. How does your company feel about government mandate use of Biodiesel?
For it = 33.6%
Against It = 52.8%
No Response = 13.4%
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6. If there was an easy way to reduce your carbon footprint, like using a fuel card, would you do so?
Yes = 67.3%
No = 22.1%
No response = 10.5%
December 2009
Fuel Lines
Critical News & Information for Businesses
that Depend on Fuel and Fuel Services
Volume 12-09
In This Issue
- Sokolis Solutions
- DOE prices
- Only Happens in Fuel Management
- Who We Are
- Oil Speculation
Ho! Ho! Ho!
We are down to 24 days and counting until Christmas and New Years right after that. Certainly we do not forget Hanukah or the other holiday spirits that are celebrated. It's the time of year that some companies work all year long for, to put them in the Black for the year. Let's hope your there already or the season will get you there. In Fuel Management it has been a crazy year, but hey when is fuel planning and fuel consulting not?! We started the year with crude oil in the low $30 a barrel, gasoline in some states under $1.65 a gallon and diesel fuel below $2.00 in other states. Now, well crude has more than doubled, national average for gas prices is $2.629 and the national average for diesel fuel is $2.817.
The new year is shaping up to be more intersting than 2009. We appreciate your readership and wish all of you, your families, your companies a safe and merry holiday season, and a very merry new year.
Glen Sokolis
President
If you have an idea or topic you would like to see discussed here or if you would like to contribute an article for future issues, please e-mail me at gsokolis@sokolisgroup.co
Only Happens in Fuel Management
As we approach the Christmas season and New Year, it's time for us to look at where the fuel market is and how it could affect your fuel management program. There are clearly mixed signs in the fuel market place. Let us look at last Monday and the craziness in the fuel market place. The day starts off with Iran going to hold on to its uranium, which could allow them to continue to make nuclear weapons, which they agreed a few weeks back that they weren't going to do. The fleet fuel market shoots up almost $1 for crude oil immediately. Then comes the news about 3 hours later that the Housing market for re-sales rose 10.1 percent, a sign of economic recovery which is good, but bad because there will be more need for fuel, so prices go up another $1 for crude oil. Within 1 hour from there the U.S. dollar is taking a beating, the stock market is up 175 points with all 30 stocks in the Dow Jones up. Crude oil again gains another $1. Fast forward 4 more hours with a bunch of fuel being sold off and at the end of the day it was crude up about 30 cents, gas prices down less than a penny and heating oil (diesel fuel) basically even. Wow.
Well, most view the signs as positives toward stagnant fleet fuel prices or possibly lower fuel prices. Let's take a look at what is going on with fuel inventory management across the world:
· U.S. inventories for gasoline, heating oil (diesel fuel for the fleet management industry) and crude oil are still all close to record high inventory levels. Some weeks we see these fuel inventories dip and then the very next week they come racing back. One thing everyone should be able to agree on is that fuel inventories have been high and don't look like they will crash anytime soon.
· The U.S. Dollar is basically at or around a 15 month low compared against other major world currencies. That is not a good thing since fuel is traded in U.S. dollars allowing Yens and Euros to buy more fuel with less and a safe harbor for some investors to put some money away as a natural hedge against the U.S. dollar.
· Floating storage, yes crude oil sitting in ships out at sea. The floating storage rate has risen to over 90.3 million barrels of crude oil. This exceeds the daily world usage and is the first time in recent years that there is more oil floating than is used on a daily basis.
· Unemployment rates hit 10.2%. The first time double digit unemployment has been reached in 26 years. That brings you back to the early 1980's and the Reagan Administration's first term.
· Temporary workers increased to 44,000 showing signs that companies have pushed the envelope with the staff they have and are at or near maximum production. If history holds true, temporary workers in these types of economies turn into new full time employees. Certainly 44,000 are not going to touch the 10.2% very much but it is a positive sign.
· China's fuel imports are at it's second highest level of crude oil in October.
· Demand forecast for fuel by the International Energy Agency (IEA) reports that the fourth quarter will be the first increase in over a year that daily demand numbers will increase. Their projection is up slightly to 86.2 million barrels daily in world oil usage.
See it's a mixed bag. The underlying story to all of this in my mind is that crude oil prices are currently over priced by at least fifteen dollars a barrel. There used to be an expression called, "war premium" and it still gets used when a new war is about to break out. I believe this fuel market has an, "I'm scared to be short premium" worrying that since the fuel market reacts or over reacts to everything in the news, they worry that things could shoot up on them and pass them by.
Here is something to think about over the next few weeks. To have a good fuel management plan it starts with just a plan. Nobody does anything real well without having a plan, especially in something as crazy as fuel and something as important to your fleet management. Start your fuel planning now; make sure your fleet fuel card programs, your bulk fuel purchasing programs, fleet fuel auditing program, fuel insurance (risk management programs), etc are all in place. If you do these things, your fuel management and fuel planning for 2010 will be ahead of most companies. Good luck. Happy Holidays!
Sokolis Solutions
With unsteady fuel prices it's no wonder that fuel theft is rising and not all of it is from an outside thief. Many of the fuel thefts are in house thru managers, drivers and other company employees. Not preventing fuel theft could lead to hundreds or thousands of dollars in loss. Some preventative measures are below:
*Anti Siphon Devices work by closing tightly when negative draining occurs
*Fuel Management, Sokolis Group will track transactions and will monitor and question any uncertain dealings
*Locks, simple locks gates that protect your fleet and on site fueling tanks, thieves will be more likely to move on to an easier target.
*Locking gas caps are also a great theft deterrent
*Using fleet fuel cards to track a drivers location and fueling transactions.
Let Sokolis Group get fuel management and fuel planning off your plate, that's two birds with one stone.
"I am very impressed with the professionalism, knowledge and sense of urgency of the entire Sokolis team. The level of reporting is incredible and is allowing us to manage margins down a critical component of operational expense."
Anthony Ciccone
Vice President of Member Service
AAA Allied Group, Inc.
SOKOLIS GROUP-WHO WE ARE:
FUEL MANAGEMENT & FUEL CONSULTING
Sokolis Group is a nationwide outsourced fuel management and fuel consulting company dedicated to assisting our fuel management & fuel consulting clients in realizing the most value for their fuel dollars spent.
Our "Proactive Entrepreneurial Style" of fuel management along with out Best in Class fuel management technology allow our fleet fueling clients:
Fuel Discounts & Fuel Rebates
Strategic Fuel Planning Projects, to improve fuel process and fuel savings
Checks & Balances to ensure fuel pricing is accurate and correct
Fuel management enhances visibility in true fuel cost for fleet management
Extension of our fleet fuel clients, fuel management team without the overhead
Sokolis Group accomplishes these goals with our systematic approach that delivers more value than most companies are able to provide internally because fuel management & fuel consulting is our business. Our fuel consulting experts negotiate more fuel deals in a week, then most companies will in a lifetime.
Let us help improve your bottom line.
Are you fueling good?
DOE Prices
as of 11/30/2009
US = $2.775
EastCst = $2.792
NewEng= $2.869
CenAtl = $2.900
LwrAtl = $2.738
Midwst = $2.748
GulfCst = $2.724
RkyMt = $2.817
WCst = $2.888
CA = $2.948
Oil Speculation
How the FTC Ruling will make it a Fair Game
As a fuel management company involved with providers and the consumers of fuel, we are frequently asked for projections on fuel prices. Important changes are being made in legislation that will allow for greater transparency in fuel markets with the expectation that will reduce some price volatility. Even the direction crude pricing will move is up for debate with several mulit-dollar swings occurring in unprecedented short periods. The fundamental concepts of supply and demand have been materially affected as oil has become a key traded commodity outside the core producer/refiner/consumer relationship. Because this concerns our customers, we are providing the following article from The Trucker that will shed some light on this issue and explain what the FTC Rule means:
In an effort to better control what havae become widly fluctuating oil prices, the Federal Trade Commission (FTC) has issued a Final Rule prohibiting market manipulation in the petroleum industry.
Effective November 4, 2009, the Rule (issued under the Energy Independence and Security Act of 2007, pursuant to a provision included by Sen. Maria Cantwell, D-Wash.) bans any intentionally fraudulent or deceitful act, practice, or course of business, including the omission of material information, that is likely to distort petroleum markets.
The stated purpose of the act is "to move the United States toward greater energy independence and security, to increase the production of clean renewable fuels, to protect consumers, to increase the effciency of products, buildings, and vehicles, to promote research on and deploy greenhouse gas capture and storage options, and to improve the energy performance of the federal government, and for other purposes."
"This new Rule will allow us to crack down on fraud and manipulation that can drive up prices at the pump." FTC Chairman Jon Leibowitz said. "We will police the oil markets-and if find companies that are manipulating the markets, we will go after them."
Specific examples of such conduct include false public announcements of planned pricing or output decisions, false statistical or data reporting and wash sales intended to disguise the actual liquidty of a market or the price of a particular product.
Anyone violating the Rule faces civil penalties of up to $1 million per violation per day, in additional to any relief available to the Commission under the FTC Act.
Anyone following the oil market during the past few years knows even the slightest speculation or anticipation of economic fluctuations sends gas prices spiraling in response.
Recently, the Associated Press issued a report that the price of fuel had risen based on anticipated retail sales. Two hours later a report was issued, stating the price had fallen based on the new speculation of the same reports.
Copies of the Federal Register notice are available from the FTC's website.
'Imagine all the people living life in peace. You may say I'm a dreamer, but I'm not the only one. I hope someday you'll join us, and the world will be as one.
-John Lennon
November 2009
Fuel Lines
Critical News & Information for Businesses
that Depend on Fuel and Fuel Services
Volume 11-09
In This Issue
o Sokolis Solutions
o DOE prices
o Fuel Prices, Fuel Prices
o How are you Fueling?
Greetings!
By now you are finished or knee deep into your budget for 2010. With perhaps the exception of 2009, Are we are getting ready to go into a year with so many unanswered questions? What will happen with fuel prices, housing market, unemployment, governement actions, and when will the economy recover?
We are here to help. If you are a client, you know our phones, emails, doors and windows are always open for you. If you are not a client and have a fuel question, please drop me an email. Maybe that is how we start doing business or maybe its not, but I am willing to help if I can.
We provided a free webinar last week on fuel budgets. I hope you had time to catch it, if not you can view it at:
2010 Fuel Budget Webinar
Glen Sokolis
President
If you have an idea or topic you would like to see discussed here or if you would like to contribute an article for future issues, please e-mail me at gsokolis@sokolisgroup.com
Sokolis Solutions
We want your drivers safe.
Distractions cause Accidents.
o Discourage cell phone use
o Set mirrors for best all-around visibility
o Review direction or set up GPS before starting out
o Check cargo to ensure its properly secured
o Preload radio stations
o Preload CD's or Ipods
The more miles you drive, the more fuel you burn, the more you need us.
Drive Safe, Always!
DOE Prices
as of 11/02/2009
US = $2.808
EastCst = $2.834
NewEng = $2.878
CenAtl = $2.940
LwrAtl = $2.785
Midwst = $2.786
GulfCst = $2.749
RkyMt = $2.810
WCst = $2.910
CA = $2.974
NOT A SOKOLIS GROUP CLIENT?
Contact us online or call 267-482-6155 to request a free, preliminary savings evaluation.
It's never too late to start saving money. Find out how much you could be saving.
Fuel Prices, fuel prices where are you going now?
In the fuel management business we are often asked where do we think fuel prices are going to go. I basically tell them, if I knew that I would be long retired back when I was in my early 30's. The problem with fuel is so many factors effect it's price.
Over the last several weeks we have seen diesel fuel prices increase 20 cents a gallon, gas prices increase 16 cents a gallon and crude oil go up by over $13 dollars a barrel. Most people ask why. We ask why. The fuel market is crowded with supply and not enough demand yet. Though over the last few weeks we have seen inventories go down a little but we are still swimming in fuel supply.
The reason for the sharp increase over the past month has been a weak U.S. Dollar. Since oil is priced in dollars on global markets, a weak dollar drives oil prices up. The weak dollar leads investors to put cash into assets such as oil and gold to protect against the weaker dollar. When this happens the price of oil is driven up higher not because there isn't enough supply, it's due to the fact more people are buying which just pushes the cost higher.
We all know why the dollar is weak, right? As a country we have been able to take the national debt from under 6 trillion dollars in 2000 to over 12 trillion dollars and growing. (You thought your credit card bill was high). To do this we have to borrow money, as we borrow money it puts pressure on the U.S. Dollar. With 12 trillion dollars owed and economic stimulus still being rolled out in one form or another, don't expect the pressure to be taken off fuel in this segment anytime soon.
TESTIMONIAL
"5 years ago I met Glen at an OPIS Conference. I was impressed by his knowledge of the petroleum industry. Ever since, I have been in touch with him. Glen has selflessly guided me by providing solid facts and figures to solve various business problems"
Virind Guiral, eSourcing Manager
Penske Truck Leasing
How Are You Fueling? We Are Feeling Good!
This is the Sokolis Group new theme for 2010. Through the years we have realized the reason why our business model has been successful to this point is we know how well our clients and potential clients are fueling. We have the time, resources and expertise to understand the fleet fuel market and make life easier for the clients that we represent.
When talking to most companies that don't partner with us, they really don't have any idea how well they are fueling because they don't track the fuel deals they may have in place, don't audit their fuel purchases to know if they received what they paid for and if it was at a good fuel margin. How could they?
Depending on most companies size fleets it would take several hours a week to several days for someone to do a weekly fuel audit. Does anyone in your organization have that kind of time to spare? It would also require someone to understand the fuel taxes for the different states you travel. As well as buying a subscription to OPIS (Oil Price Index Service) for $50 for each city a month you buy fuel in.
Then you or your staff member would have to decide, I have this information, what does it mean or how are you fueling? You might be fleet fueling. You might be fuel auditing. You might even have an idea that your deal is good.
We know all of the answers to those questions because we are fuel management and fuel consulting experts. So we are feeling good. Do you want to feel good to?
October 2009
Fuel Lines
Critical News & Information for Businesses
that Depend on Fuel and Fuel Services
Volume 10-09
This Newsletter is in Pink as a tribute to Breast Cancer Awareness Month
In This Issue
o Sokolis Solutions
o DOE prices
o Strategic Alliances
o Truckinginfo.com
o Main Article
Greetings!
The leaves are starting to fall and winter will be arriving for some of us sooner than others. It's a great time to take a good inventory of your fuel program. Is your fuel management program getting the attention it should be? Though we don't think it will happen any time soon, are you ready for $100 a barrel plus crude oil? A few bad bounces and it could, you never know with fuel. Are you auditing your fuel program well, when you consider every 5 cents a gallon you spend too much on fuel for a 100,000 gallon a month business costs your company $60K a year? It's never too late to get back into the game. Better to be ahead then behind especially if your fiscal year starts January 1.
Glen Sokolis
President
If you have an idea or topic you would like to see discussed here or if you would like to contribute an article for future issues, please e-mail me at gsokolis@sokolisgroup.com
Sokolis Solutions
Fuel Planning, Winter Tips
o Remind drivers about driving on wet leaves
o Do a ½ driver training coarse for driving in snow & ice
o Drain the bottom of your bulk tanks of water & sediment
o Drain the bottom of your saddle tanks of water
o Put a good quality fuel additive in your tanks for the next month to remove water
o Have your OTR drivers put a fuel additive in their tanks to remove water for the next 30 days
o Make sure the right fuel filter size is on your truck and its new for winter
o Have your winter fuel product plan laid out
o Biodiesel needs extra winter additive treatment
o Get prepared for DEF
DOE Prices
as of 10/05/2009
US = $ 2.582
EastCst = $ 2.586
NewEng = $ 2.686
CenAtl = $ 2.698
LwrAtl = $ 2.529
Midwst = $ 2.561
GulfCst = $ 2.518
RkyMt = $ 2.645
WCst = $ 2.722
CA = $2.792
How Much Diesel Fuel Will Rio Burn for the 2016 Olympics?
I don't believe they know that answer yet but their fleet fuel bill probably won't be as large as China's was last year? Can you imagine being on the fuel management budget trying to figure out how much fleet fuel you will burn for buses, cars, vans, and generators. Oh my, all of those generators for all of that TV coverage. It begs the question? How do they know what it's going to cost for diesel fuel seven years from now when we don't know what is going to happen next week.
It's an easy answer, they don't. The last 12 Olympics have all lost money. The Olympics are for great athletes, but not great planners in fleet management, people management, fuel management, etc. Sure there have been some that have done a real nice job with some of it but was it skill or luck?
When we watch the fuel market go up and down with margins going all over the place we often ask ourselves, do our potential clients know what they are doing or should they be working at the Olympics on say, the uneven fuel balance beam, or are they the one buying a fleet fuel contract for $4.00 a gallon for price protection? We see mistake after mistake and just don't understand why companies don't seek professional help. If you were sick you would go see a doctor right?
The fuel market looks like crude is going to stay around $70 a barrel no matter how much we hope it goes down. Considering the current fuel inventory levels it should be more like $45 a barrel for crude but that isn't happening, at least not right now.
There will be plenty of very skilled managers that will work the Olympics. There always is, but will those managers, like managers of transportation firms and delivery companies be the right person for the job. We all can't be experts at everything and certainly time constraints experienced daily by managers are not helpful in having the ability to be an expert in all phases of their responsibilities. Does your company want an expert helping with one of the top expenses on your Profit-Loss Statement?
Our staff can and will improve you fuel cost; just see what others have said client testimonials. Sokolis Group testimonials.
TESTIMONIAL
"With a fuel expense of 25 to 30 million a year to not have one person dedicated entirely to that expense is not a good way to handle business. To be able to hire a group of fuel experts to manage our fuel was an easy decision. We looked at it from the standpoint of a savings per gallon, but more from one resource dedicated to fuel expense. Sokolis Group brings more experience to the table and options and are easy to work with. "
Gary Schiefelbein
Vice President of Business Controls & Risk Management
Jack Cooper Transport
Truckinginfo.com
All of the latest information on what is going on in the transportation world. Truckinginfo.com has selected Glen Sokolis to write a weekly article called Friday Fuel. It's under the Operation section of the web site and clearly it comes out every Friday. Visit not only on Friday but everyday for the latest news. Stay on top of what is happening in the transportation world.
www.truckinginfo.com
We're excited to be a new ally of 1Sky. The coalition was created in 2007 to focus the power of concerned Americans on a single goal: Bold Federal Action by 2010 that can stem global warming.
As such, Carbonfund.org has pledged to support 1Sky Solutions:
Create 5 million green jobs and pathways out of poverty by rebuilding and refueling America with a comprehensive energy efficiency mobilization and immediate investments in a clean-energy infrastructure.
Reduce global warming pollution at least 35% below current levels by 2020, and at least 80% by 2050, In line with the best science available. Recycle revenues from the sale of pollution allowances or carbon taxes to ensure they are equitably returned to the public to offset potential increases in energy costs, accelerate the transition to a clean energy future in the US and internationally, and fund adaptation for vulnerable communities and natural systems here and abroad.
Re-power America by imposing a moratorium on new coal plants that emit global warming pollution and replacing directly fuels with 100% renewable energy.
These goals are aligned with Carbonfund.org's mission to achieve a clean energy future through climate change education, third-party verified carbon offsets and outreach. Off set your carbon footprint at www.carbonfund.org
Quote
Dictionary is the only place that success comes before work. Hard work is the price we must pay for success. I think you can accomplish anything if you're willing to pay the price.
-Vince Lombardi