Why We No Longer Pay for Waste Oil Collections

Rodney Jones - Tuesday, March 15, 2016

 

In August 2014 following the oil price slump we were forced to change our pricing structure regarding collections of waste oil and rather than pay our customers for their oil we had to review our costs and pricing to reflect the changes.

In July 2014, oil was priced at around $105 per barrel and ever since it has been in decline. As we write this on 03/02/2016, it currently stands at $29.88 per barrel, that’s over a 70% drop since July 2014’s price point and is showing no sign of recovery.

This drop in price is due to a number of factors including reduced economic growth for many countries, political sanctions, the slump in demand for oil and the increased level of production represented most recently by Russia – one of the largest oil producers in the world – revealing they have pumped at record levels, with an output of 10.88 million barrels a day during January. Why do we not pay a rebate for your waste oil collections?

Waste management is not as comparable to the large scale production of crude oil refinement as you might think. Waste oil is legally required to go through many smaller processing methods in order to produce non-hazardous and reusable oil to remain compliant and environmentally responsible. The recycled products are then able to be re-purposed but any reusable compounds of waste oil have to compete with virgin crude oil; a purer product and are ultimately less competent so demand and its value is a lot less.

The fuel that has come from waste oil is mostly “leftovers” and it’s only market is in the lower end of the industrial fuel oil industry. It then has to compete against prices that are already much lower than other higher quality fuels; as a result companies are compelled to reduce costs to process the product and pass on these charges to the waste oil producer attributing low or negative costs. In summary we are dealing with a difficult turnaround within the industry, and it can often be a surprise when passing this information onto our new or current customers when in the past they have received money for their waste oil. We will be monitoring this situation and in turn will continue to offer our outstanding and competitive service to ensure that our customers are receiving the very best from us. 
Comments
Robby commented on 21-Jun-2019 04:09 PM
Cyprus gave the term to the world and had been in discussion since last six years now.

Why is Bail-in needed?Dr Ron Paul Liberty Report Paul, the American Republican Congressman, has answered the question lengthy before it even arose. He has stated that when the bailout of a failing company is completed, the money is being confiscated from the productive members of the financial system and is given to those who are failing miserably.
By assisting the companies which have antiquated work model, the government is interfering with the economic phenomenon. He said that a vital ingredient of a healthy and thriving economic system is that each the success and the failure have to be allowed to happen as they're earned.
By bailing out incompetent establishments, the federal government is preventing the liquidity of their assets and their availability to the companies that can put them to better and extra productive use. The bailout is reversing the rewards by giving the proceeds of the successful ones to those who're failing miserably.
This makes the bailout unhealthy for the economy.
Wiley commented on 21-Jun-2019 04:50 PM
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My mother and father were always preoccupied with having enough food to feed the family. Whenever they had the chance to get anything labeled as "life necessity" they would ensure they'd inventory as much as they were allowed. 30 some years ago. Being an American for more than two many years nevertheless didn't change much in the way I feel despite the abundance that our nation had experienced during all this time.

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Our circumstances should not equivalent and the issues at hand are different but the principle is identical and that is what really matters. Where Paine argued for American independence in a style that bizarre folks may perceive, Paul argues for a return to a Constitutional form of authorities in a method that atypical folks such as you and that i can understand.
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Aracely commented on 21-Jun-2019 06:08 PM
Does this imply that these people who are out there protesting on Wall Street, throughout the nation, haven't any grievance?

MR. GINGRICH: No. I -- let me draw a distinction. I believe there are -- nearly every American has a reason to be angry. I feel nearly every American has a purpose to be anxious. The people who are respectable and accountable citizens choose up after themselves. The people who find themselves just on the market as activists trash the place and walk off and are proud of having trashed it.

So let's draw that distinction. If they need to essentially change issues, the first person to fire is Bernanke, who's a disastrous chairman of the Federal Reserve. The second individual to fireplace is Geithner. The actual fact is, in each the Bush and the Obama administrations, the repair has been in, and I feel it's perfectly reasonable for people to be offended.


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Clara commented on 21-Jun-2019 06:19 PM
25. Real change options right now is two-pronged; macro-economics and personal economics.
On the macro stage, your complete financial system blueprint have to be redesigned to one which trickles-up from the folks not down from the wealthiest, if to be truly sustainable. 26. Only a handful of leaders are courageous sufficient to deal with the true drawback.
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How we think about, earn, spend, save and make investments money must be revisited if we and our children after us are to thrive into the longer term.
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