Summit Energy Executive Discusses Energy Risk Management at Food Industry Purchasing Seminar
Summit Energy’s Vice President of Risk Management, Tim Statts, recently provided insights on the energy markets in a presentation to an audience of more than 700 food-industry executives at the 33rd Annual Sosland Publishing Purchasing Seminar. Mr. Statts was the featured energy risk management expert at the seminar, which took place in Kansas City, Missouri from June 6-8, 2010. This year marks the fifth consecutive year that Mr. Statts has spoken at the Sosland seminar.
Mr. Statts’ presentation focused on the market behavior of crude oil and natural gas and the implications of price movements in those commodities on the food industry. In particular, Mr. Statts discussed the:
- Correlation between crude oil and various agricultural commodities, such as ethanol, wheat, and soybeans
- Impact of the Deepwater Horizon disaster on crude-oil’s future
- Role of OPEC as both a price-taker and a price-setter
- Rapid growth of non-OPEC crude oil supply
- Inventory and price adjustments resulting from growing crude-oil demand in emerging economies
- Effect of production trends on natural gas purchasing
- Increased demand and supply for liquefied natural gas
According to Josh Sosland, Vice President of Sosland Companies, “Energy risk management is crucial to those in the food industry – energy prices significantly affect the cost of raw materials, processes and distribution. For several years, Tim Statts’ perspectives on energy markets have provided excellent insights for the purchasing executives attending our seminar.”
Visit www.summitenergy.com for more information about how Summit Energy can provide energy consulting services for your company.
About Summit Energy
Summit Energy provides energy management and sustainability services for businesses in a wide range of industries. Summit Energy manages more than $20 billion in annualized energy spend for more than 650 clients and thousands of facilities worldwide. Summit Energy leads companies to cost-effective strategies by providing energy procurement, sustainability consulting, energy procurement, risk management, rate analysis and demand reduction services. Headquartered in Louisville, KY with a team of more than 350 people, Summit has additional offices in the U.S. as well as Belgium, France, Mexico, United Kingdom and The Netherlands.
