On the mergers and acquisitions (M&A) front, 2023 has come in like a lamb versus past years.
The rising interest rate environment could finally be having the negative M&A effect on both deal availability and buyer enthusiasm.
Given the prospect of even higher rates, this period of moderated activity is bound to continue, and when a choice deal does come down the pike, one wonders if the remaining deal-hungry buyers will begin to reduce the inflated purchase multiples that have been so prevalent over the past years.
The year is speeding along at such a rapid clip it’s hard to believe that my favorite annual industry event, the Energy Marketers of America’s (EMA) Washington Conference and Day on the Hill, is just around the corner. It’s scheduled for May 10-12 at the Washington Mayflower Hotel.
This annual event brings together committed members of the associated state associations to jointly lobby against the current slate of national regulations and legislation that the progressives have designed to negatively impact our industry and the overall well-being of America. In Washington and throughout the year, EMA and the various member state associations work tirelessly to proactively protect the thin red line that separates our industry from relentless detrimental governmental interference.
Disaster Response
Although EMA generally has an adversarial posture on most governmentally induced things, disaster response is one area where EMA provides valued leadership and cooperation with several agencies, including the Department of Transportation (DOT), Department of Energy (DOE) and the Federal Emergency Management Association (FEMA).
Be it emergencies like hurricanes, other natural disasters or terrorist events, the EMA Disaster Fuel Response Program helps cut through interference and red tape to ensure that fuel is delivered where it is needed to support emergency services working to restore utilities and rebuild. It’s refreshing that in at least one important area, EMA has a seat at the table with various governmental agencies that appreciate our industry and the contribution marketers make to the well-being of the country.
The EMA Disaster Fuel Response Program coordinates the participation of affiliated state associations and their marketer members, who willingly deliver fuel to various on-the-ground entities responding to a given disaster. When a disaster occurs, EMA provides these entities with an up-to-date list of participating marketers who are prepared to respond, and they constantly supplement this list by encouraging interested marketers to participate in this valuable program. Send me a note if you’d like more information, and I’ll put you in touch with the right people in the organization.
This is another reason why all petroleum marketers and suppliers have a vested interest to join their respective EMA-affiliated state associations and become actively involved. Multistate fuel wholesalers and store operators should also willingly commit the resources and manpower to become involved with any state where they have a significant business presence.
Membership provides inexpensive insurance against unknown attacks and the ability to provide leadership and direction on state-specific legislative and regulatory issues. With two more years until the next presidential election, there’s no good excuse not to join the cause or to allow others to do the heavy lifting.
Mark Radosevich is a 43-year petro-veteran and recognized industry advocate. He is president of PetroActive Services (www.petroactive.net) and can be reached at [email protected] or (423) 442-1327.
“The opinions expressed in this column are those of the author and do not necessarily reflect the opinions or beliefs of CStore Decisions.”