Westlark Advisors Heart of America (HOA) Energy Symposium – Recap
Attendees of this year’s HOA Energy Symposium were treated to Kansas City history, great barbecue, and a range of topics – from transitioning a business to the carbon credit markets.
Welcome Reception at Tom’s Town Distilling Company
The event began Tuesday evening with a welcome reception at Tom’s Town Distilling Company. This unique location gets its name from Tom Pendergast, a corrupt Kansas City political boss during Prohibition. Here guests were able to enjoy locally made spirits, while getting a glimpse of what things were like during the Pendergast Era when jazz, money and spirits flowed freely in the “Paris of the Plains.”
Educational Sessions & Speaker Presentations
Reports from the Energy Information Administration – Warren Wilczewski
The educational sessions kicked off on Wednesday morning with Warren Wilczewski, Lead Industry Economist from the Energy Information Administration (EIA). Warren went through several reports provided by the EIA and highlighted one major, upcoming change. Later this year the EIA report will separate propane ready for sale and propane that exists in a Y-grade or E/P mix.
Tutorial on Hedging – Matt Adams
Matt Adams, Senior Commodity Advisor, and longtime Westlark Advisors’ team member, spoke next and provided a short hedging tutorial. One major point discussed was evaluating a price curve that is moving lower in the future (backwardation) versus a price curve moving higher in the future (contango). Matt’s bottom line when looking at the graphs – buy at the point of greatest contango or lowest backwardation.
Presentation on Transitioning a Business – Marty Kirshner
Transitioning a business was the focus of the midpoint of the HOA Energy Symposium. Marty Kirshner, partner at Gray, Gray, & Gray, provided a synopsis of several factors to consider prior to any transition. This set the stage for the panel discussion on business transition.
Panel Discussion – Business Transition – Michelline Dufort & Panel Participants
Michelline Dufort, Executive Director of the Center for Family Enterprise at the University of New Hampshire, moderated the panel which included:
- Marty Kirshner, partner at Gray, Gray & Gray
- Jim Proulx, President at Proulx Oil & Propane, Inc.
- Chad Kroening, Vice President-Safety & Commercial Operations at Boehlke Bottled Gas Corp.
- JD Buss, President at Westlark Advisors.
This panel discussion was the longest segment of the day. It delved into many personal stories about business transitions, while outlining items to consider and pitfalls to avoid.
Discussion of the Carbon Credit Markets – JD Buss
JD Buss closed out the educational sessions by discussing the carbon credit markets. Carbon credits are important tools that can assist propane retailers in becoming carbon neutral. Unlike renewable propane, carbon credits are a much more affordable option.
Closing Events – Jack Stack BBQ at the Freight House & WWI Museum and Liberty Memorial
Following the final session, attendees moved to the Freight House to enjoy delicious Jack Stack barbecue. After eating, attendees visited the largest World War I museum in the world. The evening was topped-off by a climb to the top of the famed Liberty Memorial. Like the wide, yet detailed, skyline of Kansas City, this year’s HOA Energy Symposium gave a wholistic, yet specific, view of many issues currently impacting the propane industry.
Westlark Advisors would like to offer our thanks to all of our speakers, guests, and team members who made this year’s Heart of America Energy Symposium such a success! We are grateful for your time, attention and energy. We look forward to seeing you again soon!
HOA Energy Symposium – Recap
By JD Buss
