2010 Hot Mix Asphalt Market Forecast
Jay Hansen, NAPA
Jay Hansen, Vice President Government Affairs for the National Asphalt Pavement Association, will provide a complete forecast of the 2010 hot mix asphalt market. Every NORA member will need this information to accurately plan and budget for next year. Specifically, Jay will review the 2009 highway market for asphalt pavement and provide a forecast for the 2010 market. Two-thirds of the asphalt pavement market is in publicly funded highways and nearly half of that market is federally funded. Federal highway funding is a key driver for the HMA market and is affected by the economic stimulus bill enacted earlier this year and the surface transportation reauthorization bill which will not be enacted this year. These two issues along with state and local highway funding and the private sector markets will impact asphalt pavement production in 2010. Attendees will get a better understanding of current asphalt pavement production trends and how 2010 looks at this point and time. With over 300 million gallons of recycled fuel oil being utilized by the HMA market, all NORA members should attend this session Friday morning (October 30th) to gain insight and justification for their own budgeting and planning for 2010.
Energy Market Overview
Elaine Levin, Morgan Stanley Smith Barney Global Wealth Management
Oil prices are grinding higher, but oil inventories are bursting in U.S. tankage. Natural gas prices have recovered, adding two-thirds to their recent low at $2.41, but natural gas in underground storage is nearing a record, more than 15 per cent higher than the 5-year average. Why the contradiction between price and supply? Some of it has to do with growth in Asia and some with breakthroughs in natural gas drilling techniques. Elaine Levin will help us understand some of the reasons that energy prices seem to have diverged from fundamentals of supply and demand.
Asphalt Industry Trends - Warm Mix Asphalt
TJ Young, T2ASCO
NORA is bringing in asphalt industry expert TJ Young to address the rapid trend from hot mix to warm mix asphalt (WMA). WMA production will have a significant impact on our industry beginning in the upcoming years. Young will explore what the impact of the actual fuel savings in WMA production will have on our industry and your business. In particular, Young will review details including defining WMA, its uses in the US and Canada, benefits for the asphalt producer/end user/paving contractor, different types of WMA approaches currently being used, case studies, and future forecasts of WMA production and its impact on traditional HMA production tonnage. This session contains vital information for all NORA members. Will the WMA trend result in an actual gallon decrease in burner fuel requirements? Is it possible that the rapid trend to WMA may actually increase demand for recycled fuel oil?
Hedging - How to Protect Against Price Volatility
Elaine Levin, Morgan Stanley Smith Barney Global Wealth Management
It is a well known fact that companies today face increased risk from fluctuating energy prices. And when prices are moving up and down, it can take an expensive toll on your bottom line. Many professionals have turned to hedging mechanisms as a way to protect against price volatility. In this session, Elaine Levin will introduce NORA members to some of the basic concepts of hedging: Why conservative companies hedge, how hedging is different from speculation, and the tools of risk management. She will discuss how futures and options are used by companies to help minimize the risk of major price changes in the oil and natural gas sector.
Used Oil Price Index/Commodity Market Discussion Forum
Alan Gressel, Independent Consultant
Industry expert Alan Gressel will discuss a research project commissioned by NORA regarding the creation of an Used Oil Price Index/Commodity Market. Specifically, attendees will gain an understanding of how a price index/commodity market could be developed, what obstacles exist, and the pros and cons of this type of project. Will this concept help members manage price volitility in the used oil market? Gressel will open the floor to attendees for an in depth discussion of the potential creation of an Used Oil Price Index/Commodity Market.
Finalized and Emerging Green House Gas (GHG) Rules and Legislation That Could Significantly Impact NORA Members
Jack Waggener, URS Corporation
EPA is finalizing the GHG Reporting Regulations for industry and is proposing, drafting, and discussing GHG rules that will likely limit GHG emissions through air emission permits for industry and other sources. Simultaneously, the US Congress is proposing Legislation that will cause reduction in GHG emissions. There will likely be positive and negative impacts to NORA members. Attendees will learn what the EPA is working on and how it will impact you and your clients. NORA's representative in DC, Jack Waggener, will get you up to speed on this emerging issue for our industry.
Presentations Added as Announced in NORA Press Releases - More to Come!
