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DAILY ENERGY COMMENTS
September 23, 2016
Crude was slightly lower overnight and is neutral to bullish signaling sideways to higher prices are possible in the near term. Fuel was slightly higher overnight and is neutral to bullish signaling a low may be in or near. Gasoline was slightly lower overnight and is neutral to bullish signaling sideways to higher prices are possible in the near term. The Dollar was slightly lower overnight and is turning neutral to bearish signaling sideways to lower prices are possible in the near term. Propane is slightly lower this morning as it is being infulenced by the market moves in crude and is neutral to bullish signaling sideways to higher prices are possible in the near term.
With the relatively lower price of propane expexted to continue into next year here is a formula to consider if replacing your residential water heater.
It takes 27 kWh of usable electricity to equal 1 Gallon of propane. If your rate for electricity is $.1273 per kWh (which is the national average) X 27 kWh = $3.43 per gallon.
The National average for residential Propane is $2.01. This means that propane is a better value versus electrcity.
Some Information concerning SPCC. If your Aggregate Oil and Fuel is greater than 2500 gallons and not more than 6,000 gallons, with no reportable discharge history, you do not need an SPCC farm plan or secondary comtainment by EPA rules. State or local regulations may supersede the Federal EPA so you will need to check out those regulations. For between 6,001 and 20,000 gallons and no tank larger than 10,000 gallons you can self certify with a form that is avalable on the EPA web site (www.epa.gov.) If you have a 20,000 gallons or more total storage or a 10,000 gallon tank or larger you have to have an SPCC Professional Enginer's plan. If any questions please call 320-325-5466.
If you have purchased a piece of farm equipment (Tractor, Combine, New Sprayer and a few other motorized pieces, either New or used up to ten years old from date of manufacture.) they may be eligible for the Best extended warranty in the industry. Please contact Gale Adolph @ 320-343-9022 or cell, 320-815-0730 for more information.
Hope YOU have a great day!
Crops are looking good in most areas. With wheat harvest done we now look toward soybean harvest. Almost all the bean fields are starting to turn. Silage chopping is starting to wind down. Chopping has changed a bit since this picture was taken. Harvest cannot not to far off.
Keeping costs down means keeping your equipment longer.
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