The National Propane Gas Association (NPGA) observes that May data shows U.S. propane inventory has shifted from draw to build season, adding that April ended at critically low volumes of only 18.6 days of supply as export demand remained strong. The association emphasizes that for the first time since 2011, the U.S. continued to draw from the last week of March to the first week of April. Those draws continued and caused the build season to be muted and delayed well into April, primarily due to strong export demand to fill Japan’s inventory.
Exports were the primary driver of the sharp drawdown of propane inventories this winter, and this combined with seasonal declines in residential / commercial demand should lead to the beginning of a build in propane inventories over May and June. NPGA expects propane supply from gas plants to resume growth as higher crude prices lead to new rig deployments and a resumption of new associated production.
NFIB has told House Ways and Means Committee chairman Kevin Brady (R-Texas) that small business owners expect comprehensive tax reform this year and that it must feature parity for business of every size.
“Tax reform has the potential to have an enormously positive impact on small business. It is their top priority in 2017,” said NFIB president and CEO Juanita Duggan in a letter to Brady. “Given that small businesses account for nearly half of the gross domestic product (GDP) and private sector workforce, and create two out of every three net new jobs, the U.S. economy will not reach its full potential for growth without a robust and flourishing small business sector.”
“Topping the list of economic concerns for small business owners is the U.S. tax system,” she said. “Since 2012, taxes rank as the first or second most important problem small business owners face in every monthly NFIB Small Business Economic Trends survey. Federal taxes on business income is a critical problem for nearly 30% of small business owners.”
The U.S. remained the world’s top producer of petroleum and natural gas hydrocarbons in 2016 for the fifth straight year despite output declines for both relative to their 2015 levels, the EIA reports. This nation has been the world’s top producer of natural gas since 2009, when production surpassed Russia’s, and has been the No. 1 global producer of petroleum hydrocarbons since 2013, when output exceeded Saudi Arabia’s.
Our drivers are now trying to keep up with our swimming pool accounts. We have no way of knowing when you are firing up your swimming pool boiler, so please communicate with the office. Phone the office with the percentage in the tank and the duration of the plans for heating your pool. Swimming pools can use lots of propane especially when heating 20,000 to 50,000 gallons of water.
Clear up past budget balances for the past year of 2016/17 and begin the new budget year of 2017/18 with your first payment. Any outstanding regular credit balances must be paid. If you have any questions or discrepancies with your charges call the office. We need to start the new winter season with no outstanding charges.
Our employees are taking their vacations and our staff will be shorthanded at times. We are doing the best we can to fill-in for our vacationing employees. Any interest in upgrading your heating equipment or adding clean and efficient gas appliances call the office for a bid. Thank you for your business the past May and June.
Cordially,
John Buller and Sons
