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DAY 3 Friday, May 18, 2007

8:00 – 9:00 a.m. Continental Breakfast
BONUS: Using Technology to Buy Faster and Cheaper
As you develop your fuel buying program, one of the biggest challenges can be in the way you internally gather prices. Pulling prices from the web, emails, or fax transmissions leaves you vulnerable to making errors and missing price moves – especially when markets are moving fast. You’ll learn how marketers and end users use the latest technology to help them gather prices more efficiently, buy better, and ultimately reduce their net buying costs.    

9:00 – 9:15 a.m.
Review of Yesterday’s Lesson / What You’ll Learn Today

9:15 – 10:15 a.m.     
The State of the Oil Industry: What to Expect and Why it Affects You
Now that we understand the basics of the fuel supply chain, let’s build on that expertise and discuss the state of the industry. In this session, we’ll lay out:

• Where the industry is now, both on a supply and
  a pricing basis.
• What major factors are affecting the market.
• What we can expect in terms of price and supply trends
  over the next 6 to 12 months.
• How this will affect NYMEX, spot and ultimately rack prices.

10:15 – 10:30 a.m. Refreshment Break

Advanced Buying Workshop – We’ve mastered the basics, now let’s move on to some more complex (but still easy to understand) buying concepts.

10:30 – 11:15 a.m.    
Part One: Understanding Ethanol & Biodiesel
The hottest fuel being talked about in the industry is biodiesel. Currently, biofuel is mandated in two states and biodiesel producers are popping up across the U.S. It’s critical for ALL fuel buyers to understand the role biodiesel will play in the market, and how the blender tax credits work.

11:15 – 12:00 p.m.
Part Two: A Simple Explanation of Hedging
As you complete your fuel buying program, you have to understand where your business is most vulnerable to spikes. Is it your fuel budget or is it your retail margins? More and more fuel buyers are moving toward risk management or “hedging” strategies to help them control costs. In this session, we’ll give simple, easy to understand explanations of:

• Hedging: what is it and how it works.
• What the NYMEX has to do with hedging.
• Caps and collars and over the counter
  and forward deals.
• Should I or shouldn’t I hedge?

  

 

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