FUELIowa Magazine: March/April 2024

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THE VOICE AND RESOURCE FOR IOWA’S FUEL INDUSTRY

PRESIDENT'S PERSPECTIVE pg. 3 EPA RULE pg. 4

FUELIOWA AND EMC DIVIDEND p.6

VOLUME 77, NO.2 2024 MAR / APR

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2 PRESIDENT’S PERSPECTIVE EPA RULE FUELIOWA AND EMC DIVIDEND 3 4 6 2024 PAC DONORS APPLYING FOR GRANTS MEMBER UPDATES INSIDE THE BELTWAY RISK MANAGEMENT LEGISLATIVE MEETINGS SUMMER FUELIOWA EVENTS 10 13 14 20 22 25 30
ISSUE ON THE COVER Corn makes ethanol, ethanol fuels our vehicles. Together We FUELIowa 10430 New York Ave Suite F Urbandale, IA 50322 p (515) 224-7545 f (515) 224-0502 info@FUELIowa.com www.FUELIowa.com
FEATURES IN THIS

PRESIDENT’S PERSPECTIVE

LETTER FROM THE PRESIDENT & CEO

Members of FUELIowa have consistently been encouraged to maintain relationships with their legislators. On March 7, FUELIowa leadership strategically teamed up with the Iowa Corn Growers Association and held a series of meetings at the Iowa State Capitol with legislative leadership and the Governor’s Staff.

As part of the presentations, legislators and staffers learned about the various state and federal incentives that are available to producers and retailers, as well as the dire need for infrastructure funding to enable E15 and higher blend of biofuels to reach consumers. Legislators were informed of the economic benefits of retailers (especially in rural areas of the state) and were encouraged to advocate for increased fuel distribution infrastructure on the state level.

In order for Iowa to be national leader in renewable fuels, our members encouraged legislators to increase infrastructure funding for retailers to ensure that access to biofuels is available to all Iowans across our rural fuel distribution network.

The meetings were a great opportunity for FUELIowa members to express their opinions on legislative issues that matter most to our membership. FUELIowa was also able to build relationships with legislators and staff members, as well as with members of the Iowa Corn Growers Association. Working together will help FUELIowa continue to have a positive impact on the state.

TogetherWeFUELIowa.

Ronald N. Langston President & CEO FUELIowa 515-224-1599

EXECUTIVE COMMITTEE

Keith Olsen Chair Olsen Fuel Supply Atlantic 712-243-2340

Tessa Fahey Vice Chair Rainbo Oil Dubuque 563-526-1179

Nate Lincoln Treasurer Lincoln Farm & Home Service LLC Glenwood (712)527-4833

RNL

BOARD OF DIRECTORS

Chris Biellier Associate Director Seneca Companies Davenport | 563-332-8000

Chad Besch Director NEW Cooperative Algona | 515-295-2741

Don Burd Director Otter Creek Country Store Cedar Rapids | 319-533-1825

Tia Eischeid Director Al’s Corner Oil Co Carroll | 712-673-2723

Wade Fowler Associate Director Core-Mark Midcontinent, Inc. DBA Farner-Bocken Carroll | 641-777-0308

Cara Ingle Associate Director Unified Contracting Services Des Moines| 515-266-5700

Dennis Jaeger Director Mulgrew Oil Dubuque | 563 845-8359

Nate Lincoln Director Lincoln Farm & Home Service Glenwood | 712-527-4833

Scott Moore Director Western Oil, Inc Ohmaha | 402-618-2238

Dave Reif Director Reif Oil Company Burlington | 319-752-9809

Scott Richardson Director Key Cooperative Roland | 515-291-0623

Jason Stauffer Director NEWCENTURY FS Ames | 515-370-3127

FUELIOWA // www.FUELIowa.com 3

Environmental Protection Agency Final Rule Marks Progress Toward Summer E15 Certainty

In February 2024, the Environmental Protection Agency released a long-awaited final rule clearing the path for eight Midwestern states to begin legally offering E15 during the summer months to consumers. The final rule released by EPA follows a petition sent by the Governors of eight Midwestern states requesting the EPA to repeal the 1 psi summertime gasoline volatility waiver for blends of ethanol and gasoline containing between 9%-10% by volume ethanol.

The petition made by the Governors in Iowa, Nebraska, South Dakota, Minnesota, Illinois, Missouri, Wisconsin, and Ohio, would remove the 1 psi summertime gasoline volatility waiver available for E10 but would have the intended effect of opening the door for the summer sale of E10 and E15. Creating a legal pathway for gasoline retailers to sell E15 during the EPA summer ozone season (June 1 – September 15) is a position FUELIowa strongly supports and an issue FUELIowa has lobbied regularly with our Congressional Delegation. However, we prefer that this regulatory action leads to action in Congress which creates a universal change across all states in lieu of just the eight referenced in this regulatory action.

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For years, E15 proponents like FUELIowa have advocated for Congressional action providing E15 with the RVP parity afforded to its sister product E10. After years of inaction on the federal level, the coalition of Midwestern Governors referenced above, led by Iowa Governor Kim Reynolds, took action into their own hands after years of Congressional inaction. Although the removal of the 1 psi waiver for E10 may seem like an odd course of action to be taken by this group of agriculture focused states, the request by the coalition of Midwestern Governor’s does create a pathway for the legal sale of E15 during the summer months.

By petitioning the EPA to rescind the 1 psi waiver for E10, the coalition of Midwestern Governors are capping the volatility of gasoline sold in their states during the summer months at 9 psi. Because the addition of 10 percent ethanol to a gallon of gasoline raises the psi of the finished blend by 1 psi, no longer will refiners, shippers, and terminals be allowed to supply these eight states 9 psi gasoline if they want the flexibility to blend these gasoline gallons with ethanol.

Following the implementation of the rule, for gasoline shipped to the petitioning states to be eligible to be blended with ethanol, refiners will need to lower the RVP of their gasoline shipped into the eight states to a level suitable to accommodate the addition of 10 percent ethanol and its corresponding bump in RVP. With E10 owning a market share of 85 percent to 90 percent in the petitioning states, the eight Midwestern Governor’s believe enough incentive exists for refiners to reduce the necessary components in their gasoline gallon to lower its RVP, likely down to around 7.8 psi.

It is worth noting that the addition of 15 percent ethanol to a gallon of gasoline has slightly less of an impact on the finished RVP when compared to the addition of 10 percent ethanol. Assuming refiners adjust the RVP of the base gasoline shipped to the petitioning states in a manner suitable to accommodate E10, by default, E15 will reap the benefit and slide in safely under the new 9 psi summer limit.

However simple the process following this successful petition by Midwest Governors may seem, implementing this change will not be without challenges. Over 70 percent of the U.S. gasoline supply is fungible and shipped as a 9 psi CBOB (conventional blendstock for oxygenate blending) suitable for blending with ethanol with the 1 psi summer waiver afforded to E10. Following this successful petition, over 70 percent of the gasoline available in the U.S. will no longer be suitable for blending or sale in the state of Iowa. Iowa, along with the additional seven states on the petition, will be cast into the pool of minority markets requiring boutique gasoline.

The risks associated with this action include supply disruption and an increase in the overall cost of gasoline supplied to Iowa and the other seven states in the petition. It’s important to note that both suboctane gasoline and premium grade gasoline will be required to meet the new lower RVP standard following this petition. Because lowRVP gasoline cannot be co-mingled with conventional gasoline, refiners, shippers, and pipeline terminals will be forced to add significant infrastructure to accommodate the segregation of low-RVP gasoline throughout the gasoline distribution system feeding the eight petitioning states. It’s noteworthy that EPA

referred to the threat this action poses to gasoline supply in their final rule and used the logistical challenges facing refiners, shippers, and pipeline terminals in EPA’s justification for implementation to occur no earlier than the summer of 2025. For the summer of 2024, the Biden Administration has all but stated publicly to expect temporary waivers to be issued to allow the sale of E15.

All these factors lead to the conclusion of an uptick in the overall cost of gasoline supplied to the petitioning states. While careful to stay away from price specific projections, historical pricing data is available for readers to draw a price comparison between lowRVP gasoline and conventional gasoline. The markets nearest Iowa to reference include Milwaukee, Chicago, St. Louis, and previously Kansas City.

Although not without challenges, this initiative by the eight Midwestern Governors does put tremendous pressure on Congress to take action. Now more than ever, Congress must take action to avoid any potential for supply disruptions and gasoline price spikes. It’s a clever and effective political tool being used by the Midwestern Governors and the application of a little pressure can work wonders in the political arena. There’s reason for optimism that Congress will act and set a new national standard for gasoline which affords E15 the RVP parity it deserves. For the first time in as long as I can remember, the ethanol industry and all three segments of the fuel industry (upstream, midstream, and downstream) are all united behind Congressional action on this issue in favor of freeing summer E15 from the grips of regulatory purgatory.

FUELIOWA // www.FUELIowa.com 5

The FUELIowa/EMC program is tailored specifically to fuel marketers and the convenience store industry and is backed by EMC, Best Rated “A” (excellent) rated company as of 11/3/2023.

The 2023 dividend of $1.49 million is the highest in the past 5 years and up more than 35% over last year.

In addition to great coverage, service, and financial strength you can count on, the program can be accessed through any local agent representing EMC with strong support

FUELIowa and EMC Announce $1.49 Million Dividend for Their Insureds

from our managing general agent, AssuredPartners.

EMC shares the underwriting profits with their insureds contractually unlike other carriers which prevents promised discounts from vanishing once losses are incurred.

Henry Jessen from Johnson Oil/ Cylinder Express stated "Our company has been a member of FUELIowa since 1949, along with over 30 years of having EMC as our insurance provider. During the past 30 years I have personally seen the value of being a part of these organizations. Each year we receive a dividend check, which helps off-set the primary cost for our insurance through EMC. Remember, to get the dividend check and other benefits you must be a member of FUELIowa and have your insurance through EMC. EMC is also very good with risk management to help keep our company safe , which helps keep our claims down. If you don't have EMC insurance,

I highly recommend you contact Fuel Iowa or your insurance agent to get signed up, otherwise you're missing the boat."
-Henry Jessen, Johnson Oil/Cylinder Express

Tessa Anderson explained, “Rainbo Oil Company has been insured by EMC Insurance for more than 35 years. This year marks the 20th consecutive year in which we have received a safety dividend check from FUELIowa, previously PMCI.

EMC is superb to work with whether handling a WC, property, or vehicle claim; we can be assured that the claim is going to be handled timely and professionally. The umbrella

liability coverage going over top of the pollution coverage is an area many insurance companies elect not to cover for those in the fuel industry, but EMC continues to provide us that coverage. They also offer many training programs available that are very advantageous to us.

We are very pleased with the coverage that EMC provides and we love the fact that through our focus on safety we are rewarded with a dividend check.”
-Tessa Anderson, Rainbo Oil
FUELIOWA // www.FUELIowa.com 7

·

● Tailored coverage - Coverage tailored to the fuel marketer and convenience store industry:

○ Property

■ Blanket building and personal property coverage per location

● Automatic limit increases to help offset inflation.

■ Consigned property

■ Tank leakage – loss of the insured’s product due to an above ground tank leak.

■ Leased and loaned tanks and equipment – property coverage for the insured’s tanks and equipment at a non-owned location while under lease or loan.

■ Foam and Chemical Fire Department Charges – expense accessed to the insured for the use of foam or chemicals in response to a fire loss.

■ Lessee Change Over Coverage – property coverage on locations where the ownership or responsibility for property insurance reverts to the Insured.

■ Security Guard Charges when necessary to protect covered property after a covered loss.

■ Loss to Inventory from Spoilage as a result of equipment breakdown or electrical disturbance.

■ Utility Interruption resulting in loss of business income or extra expense

■ Personal property of others

■ Optional

● Pollutant cleanup and removal above ground storage tanks –cleanup expense from covered perils

● Unauthorized Use of Fuel Access Card – loss of product that the insured is responsible due to a terminal access card theft.

● Gas or Oil Contamination – loss of the insured’s product due to a surface water contamination.

● Erroneous Delivery – loss of the insured’s product due to a mis-delivery of petroleum products.

● Equipment breakdown

○ General Liability

■ Liability coverage for the mis-delivery of liquid product

■ Medical payments coverage for bodily injury to a customer arising out of the customer dispensing petroleum from a petroleum pump at the insured’s premises.

■ Volunteers as insureds

■ Contractual liability for automatic/keep-fill agreements

■ Contractual liability for terminal access agreements

■ Automatic Additional Insured status where required by written contract

■ Optional

● Liquor liability

● Employee Benefits Liability

● Employment Practices Liability

○ Auto Liability

■ By endorsement

● Pollution Liability – broadened coverage for covered autos.

● Employees as insureds

● Employee hired autos

● Automatic additional insured where required by written contract

● Auto Loan or lease coverage for early termination fees/penalties

● Common occurrence deductible for two or more covered autos

● Combined occurrence deductible for physical damage loss to covered autos and cargo.

● New vehicle replacement cost on private passenger vehicles and vehicles of GVW of 20,000 or less.

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○ Cyber – first party loss and third-party liability

○ Crime

○ Workers’ Compensation

○ Commercial umbrella

○ Multi-line retention option – obtain premium credits for the insured assuming a large, self-insured retention that applies to multiple lines of insurance (commercial property, business owners’ coverage, inland marine, crime, general liability, and commercial auto).

● Value added services

○ Loss control - support, both on-site and on-line, to help insureds to prevent losses whether their operations focus on bulk fuel deliveries or conveniences store

■ Ergonomic evaluations

■ Slip and Fall prevention training

■ Hazard Control Assessments

■ Injury management programs

■ On-line safety training

■ Free “Duty to Warn” services for insureds with propane sales and distribution through “P3 Propane Safety”, a compliance and risk management company.

○ Claims

■ Reporting - Policyholders have claim reporting options available to them through the EMC agent, online, or by phone using EMC’s toll-free claims reporting hotline,

■ Workers’ compensation – Medical management services

● EMC OnCall Nurse

● Medical Bill Review

● Pharmacy benefits management

● Utilization review

● Case Management

● Rehabilitation services

FUELIOWA // www.FUELIowa.com 9

VISIONARY ($5,000+)

$ 14,000 Bev & Henry Jessen - Cylinder Express*

VISIONARY ($5,000+)

FRIEND ($500-$999)

$500 Matt Scheetz

$ 5,000 Paul & Tessa Fahey - Rainbo Oil*

$ 5,000 Paul & Tessa Fahey - Rainbo Oil*

$ 5,000 Larry Bentler, Jet Gas*

$ 5,000 Larry Bentler, Jet Gas*

$ 5,000 Ronald N. Langston - FUELIowa^

$ 5,000 Don Burd - Otter Creek Country Stores*

LEADER ($2,500-$4,999)

$4,000 Robert Mast - Mast ATM

LEADER ($2,500-$4,999)

$2,500 Thomas Flogel - Mulgrew Oil

$4,000 Robert Mast - Mast ATM

$2,500 Todd Kanne - Community Oil*

$2,500 Randy & Andrew Woodard - Elliott Oil*

$2,500 Randy & Andrew Woodard - Elliott Oil*

$2,500 Todd Kanne - Community Oil*

$2,500 Jason McDermott - McDermott Oil*

$2,500 Cliff & Dave Reif - Reif Oil*

$2,500 Jason McDermott - McDermott Oil*

$2,500 Keith Olsen - Olsen Fuel Supply

$2,500 Cliff & Dave Reif - Reif Oil*

$2,500 Ronald N. Langston - FUELIowa^

PARTNER ($1,000-$2,449)

PARTNER ($1,000-$2,449)

$1,500 Don Burd - Otter Creek Country Stores

$1,500 Joe Zietlow - Kwik Trip^

$2,000 Steve Kimmes - Kimmes Enterprises LLC

$1,000 Mark Cobb - Cobb Oil

$1,500 John Gilroy - Grysson Oil

$1,500 Eric Taylor - Taylor Quik Pik

$1,000 Jennifer Likes - Harms Oil ^

$1,000 Marc Beltrame - Beltrame Law Firm

$1,000 Thomas Flogel - Mulgrew Oil

$1,000 Gary Koerner – FUELIowa

$1,000 Jim Ewing – FUELIowa

$1,000 Marc Beltrame - Beltrame Law Firm

$1,000 Richard Weiner - Cartersville Elevator

$1,000 Eric Taylor - Taylor Oil

FRIEND ($500-$999)

$500 Travis Buhman

$500 David Scheetz

$500 Jason Floy

$500 Matt Scheetz

$500 Jeff Wade

CONTRIBUTOR ($0-$499)

CONTRIBUTOR ($0-$499)

$400 Adam Gardiner

$200 Joseph Miller

$100 Stratton Benscoter

$300 Jim Pauk

$100 Rick Graber

$250 Nate Lincoln

$25 Martin Bast

$250 Doug Coziahr

$250 Forrest Payne

$200 Keith Crandall

$200 Eric Scheuchl

$150 John Maynes

$150 Gary Koerner

$150 Jim Ewing

$150 Sarah Bowman

$150 Reo Menning

$100 John Meehan

$100 Dean Onken ^ Sustaining

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GOAL: $100k YTD: $45.1k 45.1% Donors: GOAL: 100 YTD: 24 24% GOAL: $100k YTD: $56.7k 57%
*
Donors: GOAL: 100 YTD: 38 38%
Member
Fuel Marketer Program

WANT BETTER HEALTH INSURANCE FOR LESS?

HEALTHAlliance offers industry leading health & wellness plans exclusively designed to meet the needs of fuel marketers, convenience stores, and associated businesses. With partners like Blue Cross & Blue Shield, Delta Dental & more, our members enjoy the finest coverage at low rates due to the combined buying strength of our membership. www.HealthAllianceBenefitPlan.com

FUELIOWA // www.FUELIowa.com 11

Fleet managers, transport owners, and fuel transporters turn to Westmor when they’re frustrated with downtime and maintenance issues or when they are looking for better ways to maximize their fleet. Oftentimes, they’re having troubles with their trailer weights and payload capacity or they need a product to help with a diversified operation.

westmor-ind.com

TRANSPORT IT YOUR WAY

»Match your trailer and equipment to your operational needs

»Design equipment to maximize your payload capacity

»Diversify your operation with the ability to transport or deliver fuel

»TranstechTM Tank design provides an unforced, precise fit-up of components for a stronger, longer lasting tank

»Made in the USA

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SCAN TO LEARN MORE

FUELIowa Members Learn to Apply for Millions in USDA Grants for the Fuel Industry

FUELIowa partnered with Growth Energy and Iowa Corn to present a webinar on how to navigate the application process for the grants available to members.

On Tuesday, March 19, FUELIowa members attended a grant workday held at Iowa Corn offices.

"This process has a great learning curve, but we're learning an awful lot," said Jerry Fratzke, owner of Pronto Markets. Judy Barnes and Brooke Lilley with Jet Gas participated, with Judy sharing, "This would've been great back in 2022. I spent days, evenings, hours upon hours to get this done."

Thank you to GrowthEnergy and Iowa Corn for hosting the webinar and workshop. Together We FUELIowa.

FUELIOWA // www.FUELIowa.com 13

MEMBER HAPPENINGS

FUELIOWA MEMBERS IN THE NEWS

Welcome new member, Maverik, Inc., creating the coolest convenienceexperience on the planet.

FUELIowa Fashion is Available!

Men or Womens Jacket: Port Authority® Packable Puffy Jacket

Color: Black Sizes: XS-4XL

Men or Womens Vest: Port Authority® Packable Puffy Vest

Color: Black Sizes: XS-4XL

Email Jim Ewing at jim@fueliowa.com to order your FUELIowa fashion.

Welcome new member and Silver Sponsor, Philip Morris International (PMI) the only tobacco company committed to delivering a cigarettefree future by providing America’s approximately 28 million adult smokers with better choices than continued smoking.

Dear Friends from the Molo Companies visit Camp Courageous

Camp Courageous was thrilled to have our dear friends from the Molo Companies visit Camp Courageous for a check presentation and tour of the facilities. Molo had a Fuel RoundUp where the company and the customers rounded their purchases up for Camp Courageous…a huge success! (L-R) Camp Courageous Board Member and COO/VP of Molo Companies, Glenn Hasken; Cathy Morrison from the Hiawatha Store; Melissa Edwards, Dubuque; Marcus Rush, Dubuque; Jacque Hager, Retail Operations Manager, Dubuque; and Camille Willett, Molo’s Marketing

person. Super group of good and caring individuals that are very involved in giving back to the area.

Maverik CEO Steps Down

SALT LAKE CITY — Executive leadership changes are coming to Maverik — Adventure's First Stop.

Chuck Maggelet will retire as the company's CEO and Chief Adventure Guide effective May 1, according to a video posted Friday on Maverik's YouTube page.

"To say this was a challenging decision is an understatement. As you hopefully know by now, I think Maverik is a truly special place. The work we do, the people doing it, and the bold decisions we make have created an incredible success story, but I really believe this is the right decision at the right time for Maverik and me," Maggelet said in the video. "Serving more than seven years as Maverik's chief adventure guide has been the best job on the planet. No doubt." Under his guidance, the Salt Lake City-based convenience store chain acquired Des Moines, Iowa-based Kum & Go last year. When the deal closed in August, Maverik more than doubled its footprint throughout the western United States and Rocky Mountain region, growing to more than 800 locations and 14,000 employees.

Crystal Maggelet, chairman and CEO of Maverik's parent company FJ Management Inc. (FJM), will be stepping into the CEO role temporarily while the company begins a "rigorous

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and robust" search for a full-time replacement, she said in the video.

Crystal has served 12 years on Maverik's board of directors. Her great uncle, Reuel Call, founded the c-store chain in 1928 when he opened a two-pump gas station in Afton, Wyo., with the money he earned from renting roller skates. The business soon grew, and he started providing fuel to surrounding towns and ranches.

Under Crystal's guidance, Maverik's parent company has grown into a diverse portfolio of businesses, including convenience retailing, petroleum, healthcare and hospitality. Along with Pilot Corp. and Berkshire Hathaway, FJM was a joint owner of Pilot Flying J and Maverik.

This isn't the first time Crystal has stepped in as CEO at a company. In 2008, she took on the executive leadership role at Flying J, which is currently the largest travel center operator in North America, selling approximately 14 billion gallons of fuel and $3 billion in food and merchandise a year.

She said she's ready now to keep the momentum going at Maverik.

"We'll continue to focus on having fun together, building the coolest convenience experience on the planet. I'm thrilled to be more involved with Maverik and keep the momentum going," she said. "You can also expect me to continue my passion for giving back to the communities in which we operate through charitable efforts like our partnership with Feeding America. Our companies are some of the best in their industries, and I'm excited to

lead us into another best year ever."

Doug Beech (Casey's General Stores) Awarded Ankeny Chamber of Commerce Lifetime Impact Award

Doug Beech was honored last night with the first ever Lifetime IMPACT Award. He was nominated for one of the annual awards Ankeny Area Chamber of Commerce gives but the committee saw that Doug was overqualified! They noted he actually qualified for EVERY award they give. So, they created a new and unique award to recognize Doug for the significant contribution he has made to the community.

To mark the special occasion, Casey's donated two scholarships in Doug’s name. If you know an Ankeny high school student and/or adult learner pursuing post-secondary education, encourage them to apply at https:// lnkd.in/gUstUGjs.

Thanks to Trent Murphy , BS, MSE and Laura Murphy for nominating Doug. Thanks to the committee for recognized the significant IMPACT one person can have when they step up and give back.

Giving of his time and resources is in Doug’s DNA. He understands that any community or organization is only as strong as those in it who are willing to step up and contribute.

FUELIowa Member Nick Molo (Molo Petroleum) Announces Run for Iowa Senate Seat Senate District 36

Molo, 33, is the director of Molo Petroleum. He said he is running to “give the city of Dubuque a voice in state government,” according to a press release.

“The people of Dubuque are ready for a fresh start and looking for the next generation of leaders to move our community and state in the right direction,” he said. Molo could not be reached Tuesday for further comment. Democrat Tom Townsend, a longtime local labor leader and a Navy veteran, previously announced his bid for Senate District 36.

Casey’s Launches Campaign to Provide 10 Million Meals to Communities Facing Hunger in Partnership with Feeding America®

ANKENY, Iowa--Feb 28, 2024--

Casey’s and Celsius® are teaming up with Feeding America in the fight against hunger. Starting today through April 2, Casey’s guests can round up at the register to participate in this annual campaign, supporting children and families impacted by food insecurity across the Midwest and South.

Since the start of their partnership in 2020, Casey’s and Feeding America have donated over 30 million meals thanks to their dynamic collaboration and guest donations. This year, Casey’s is committed to helping provide 10 million meals*. With support from Celsius, all funds raised by

FUELIOWA // www.FUELIowa.com 15

Casey’s guests will support 56 Feeding America affiliated food banks across the 17 states Casey’s calls home.

Food banks have reported increased pressure from the growing number of people experiencing food insecurity, all while feeling the compounded effects of continued food supply disruptions and increased food and transportation costs. More than 44 million people in the United States, including more than 13 million children, are food insecure. The Feeding America network of 200 food banks across the country distributed more than 5 billion meals each year in 2022 and 2023 with the support of dedicated partners like Casey’s.

“Casey’s is at the heart of local communities across our footprint,” said Ena Williams, Chief Operating Officer at Casey’s. “As food insecurity remains a real challenge, particularly in the rural communities we serve, we are taking meaningful action to help families in need. With the support of Feeding America, Celsius, and our guests and team members, we’ll help provide millions of meals to our neighbors who need them the most this year.”

Guests can join the movement to end hunger with Casey’s and Feeding America by taking these actions:

• Shop and Round Up at Casey’s: Guests can round up their purchases at the register the next time they visit their neighborhood Casey’s.

• Order online at Caseys.com: When ordering Casey’s handmade, delicious pizza or other Casey’s favorites, guests now have the option to add a donation at checkout.

• Cheer on Casey’s athlete partners: In March, for every slam dunk by the University of Tennessee’s Jonas Aidoo, every steal by the University of Arkansas’s Devo Davis, and every three-pointer by the University of Iowa’s Gabbie Marshall, Casey’s will donate 50,000 meals to Feeding America, up to 1 million meals total.

“Hunger is closer than you think. Anyone can experience food insecurity regardless of their background, race, or ZIP code, and it is more common in rural areas,” said Lauren Biedron, Senior Vice President of Corporate Partnerships at Feeding America. “We are proud to join hands with Casey’s to address the escalating hunger crisis and thank them for their support in ensuring our neighbors have access to the food they need to thrive.”

As a key Casey’s partner, Celsius is supporting the campaign with a donation that will enable 250,000 meals.

“Casey’s partnership with Feeding America helps families in need have access to essential meals and nutrition, and Celsius is proud to participate in its efforts to raise money for this charitable cause,” said Paul Wiseman, Senior Vice President of Communications at Celsius.

FIVE STAR COUNTRY STORE RECEIVES CENEX STAR STORE AWARD

Five Star Cooperative (New Hampton, IA) has announced their Country Store in New Hampton is a recipient of the 2023 Cenex Star Store Award.

This distinction is awarded to CENEX

stores that earned a perfect 100% without inquiry adjustments during the 2023 RED Inspection round. Retail Excellence Daily (RED) inspections are evaluations completed by mystery shoppers from June-September. They review the store’s performance in key areas of brand image requirements, cleanliness, safety and customer service.

Five Star Energy Sales Director, Bruce Halvorson, states, “It is very difficult to achieve a 100% on these inspections. Great work to everyone who helped make this goal possible. This is something to be very proud of. Good job and keep up the good work.”

Visit the Five Star Country Store located at 1949 North Linn Ave, New Hampton, IA for all your Cenex fuel, Purina livestock feeds, TrueValue hardware, and convenience store items.

Rick Pleggenkuhle, Five Star Cooperative Retail Manager, congratulates the team, “The Country Store and Energy teams both do a great job maintaining the service station. A lot of work goes into keeping the pumps clean and maintaining an inviting appearance.”

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TEXAS JUDGE BLOCKS LABOR BOARD'S JOINT-EMPLOYER RULE

Monday, March 11, 2024 - In the fall of 2023, the National Labor Relations Board (NLRB) promulgated a rule that would have made it significantly easier for the agency to find the existence of “joint-employment” between two or more entities. The rule was challenged in federal court and the effective date was delayed by the NLRB to February 2024 and then by a judge to March 2024. It now appears the rule will be on hold for longer – if not permanently. U.S. District Judge J. Campbell Barker in Tyler agreed with the challengers to the ‘joint employers’ rule, including the U.S. Chamber of Commerce, that it is too broad and violates federal labor law. The rule, issued in October, had been set to take effect today, March 11th.

The judge found the rule to be improper because “it would treat some companies as the employers of contract or franchise workers even when they lacked any meaningful control over their working conditions. The joint-employment doctrine often is used by federal agencies to impose liability on two or more companies with respect to a group of employees, such as a staffing company and its client or a franchisor and franchisee. For example, the NLRB can use the doctrine to impose

liability for violations of the National Labor Relations Act (NLRA) on multiple companies, and the agency has been at the forefront of changes to how joint employment is evaluated.

A finding of joint employment can have significant consequences for companies under the NLRA. From a practical perspective, each company found to be a joint employer by the NLRB may be held liable for the unfair labor practices of their coemployers. For example, many energy marketers operate convenience stores where the employees of vendors of beverages, snacks, and other items come into the store and stock the coolers and shelves as part of the deliveries. Energy marketers, as convenience store operators, have agreements with their vendors that commonly set forth prudent, reasonable service expectations and requirements that have an impact on the vendor’s employees. One such contractual provision allows the energy marketer to retain the right to reject the vendor’s delivery driver if the driver berates the convenience store staff, threatens violence, or behaves in an inappropriate manner while at the energy marketer’s facility. Under the final rule, the Board can find that the energy marketer’s

contractual retention of the right to reject a driver as retaining a right to control the vendor’s employment practices. The final rule, therefore, does not adequately take into consideration the reasonable and prudent needs for customers, such as the energy marketers represented by EMA, to require their vendors to meet certain standards and requirements, especially those relating to health, safety, and security.

Another example, as part of their retail motor fuel operations, energy marketers often dictate the time of day when transport deliveries of gasoline or diesel fuel can be made into the underground storage tanks at a particular location, largely because of the store’s smaller “footprint.” It is difficult, and it increases safety hazards, to have a large transport truck blocking driveway access during the store’s rush hours. Merely limiting the “window” for fuel deliveries conceivably could subject the energy marketer to joint employer liability.

Bottom line… to the extent this court ruling staying the NLRB's new joint-employer rule remains intact –appeals are likely – it may offer some reprieve on the labor law front for companies using contingent labor and/or franchise models. Stay tuned.

FUELIOWA // www.FUELIowa.com 17
800-369-5500 | STORE.SENECACO.COM | SENECACO.COM | INFO@SENECACO.COM THE COMPLETE SOLUTION” PROVIDING PETROLEUM CONSTRUCTION, SERVICE & EQUIPMENT FUEL RESTORATION & TANK CLEANING UST TESTING & COMPLIANCE INSPECTION SERVICES EV CHARGER INSTALLATION GENERAL CONTRACTING AUTOMOTIVE & COMMERCIAL EQUIPMENT & SERVICES Check out our social media!
FUELIOWA // www.FUELIowa.com 19 Solving Your Liquid Storage Needs Since 1961 ABOVE GROUND STORAGE TANKS Fuel & Other Flammable Liquids Horizontal or Vertical UL Listed Storage Tanks Single or Double Wall 1301 Pine Street, P.O. Box 477, Janesville, Iowa 50647 | sales@kaytank.com | www.kaytank.com
20 FAMILY OWNED AND OPERATED • BATTLE CREEK, IA • CALL 1-888-365-1241 PROUD SUP P O RTE R OF FUELIowa WE’RE COMMI T T E D T O VA LUE , Q UALITY AND SE RV ICE IN ALL WE D O. At Cylinder Express, we take your business personally. A call to us means always being greeted by a person, not an automated message. It means never running out of cylinders so you can advertise a special on propane with complete confidence that your customers will always find a propane tank at your store You can’t sell from an empty cage. It means value, quality and service. It means we treat you like family PLATINUM SPONSOR WE SUPPORT OUR LAW ENFORCEMENT

To learn more about the Cenex brand and how we support your local community, visit cenex.com/businessopportunities

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RISK MANAGEMENT

How to Prepare Underground Storage Tanks for Flooding

How to Prepare Underground Storage Tanks for Flooding

Convenience stores are everywhere and often open around the clock. That makes them convenient for consumers, but it also makes them vulnerable to a variety of weather-related disasters. Flooding events are especially dangerous when it comes to maintaining the integrity of your underground storage tanks (USTs).

What Happens to USTs During a Flood?

Underground storage tanks contain both fuel and air within a closed system. This becomes a problem when the space around the tank fills with water from a heavy rain event, or river overflowing its banks. Imagine holding a beach ball underwater—it wants to rise to the surface. Similarly, the air in

a UST makes the tank buoyant, pushing up against the ground to rise above the water. In a worst-case scenario, the tank can pop out of the ground, compromising the entire system and causing a fuel release. Tanks may shift underground, creating cracks in the tank or the piping that can cause a release once operations resume. Other damage can include erosion and scour, product displacement and damage to the electrical system.

Many areas of the country that weren’t prone to flooding in the past are experiencing changing weather patterns, so it’s more important than ever to protect your operations against flooding which can disrupt your business long after the water has receded.

Customize UST Installation to Prevent Damage During Flooding

If your UST is located near water or low-lying areas, you can help prevent flood damage by increasing the burial depth of the tank or adding additional pavement on top. The additional weight can help a tank from floating. You can also use special anchors to help

hold the tank down. Consider adding additional automatic shutoff valves and vent pipe extensions. Always review the recommendations of the tank manufacturer and local soil conditions when planning UST placement.

Protect Your Underground Storage Tank When Flooding is Imminent

Put together flood mitigation plans in advance so your managers and employees can use that time as effectively as possible. Plans should be easy to understand, and training should be provided.

To prevent tank displacement or water entering the system, the Environmental Protection Agency (EPA) recommends these precautions:

• Turn off electricity to UST system

• Take product inventory and water level reading of all USTs to account for product loss

• Fill the tank as much as possible (with fuel, not water) to weigh it down

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• Secure all openings on top of the tank as tightly as po ssible to prevent product release

• Ensure the seal on spill bucket plungers are operational

• Close the shear valve on pressurized piping

• Temporarily cap off vent pipes

• Place a dumpster, sandbags or large containers of sand/rock over the tank to prevent floating out of the ground

Bring Your UST Back Online After Flooding

Depending on your site-specific situation, you may take the following actions once the

water has receded and local officials allow re-entry:

• Make sure the power is off to any UST-related equipment

• Determine if product leaked from the UST

• Determine if water/debris entered the UST

• Inspect the electrical system and return power to the UST

• Check release detection system for proper operation

• Check all equipment including pumps, shear valves, fill pipes and vent lines

• Clean and empty spill buckets and sumps (including those under dispensers and above

tanks); inspect piping and fittings for damage

• Perform a UST system tightness test before adding product

• Test spill buckets and sumps

• Test cathodic protection

If you’ve had a tank float out of its excavation, or if you operate a remediation system that has been flooded, consult the EPA’s UST Flood Guide for information. You can also contact your storage tank authority or the National Response Center (NRC).

Article courtesy of the Loss Control Department, EMC Insurance Companies, Des Moines, Iowa. For more information, go visit emcins.com and select Loss Control.

FUELIOWA // www.FUELIowa.com 23

CALENDAR OF EVENTS

MAY 15-17, 2024

EMA 2024 WASHINGTON CONFERENCE & DAY ON THE HILL

Washington, DC

JUNE 10, 2024

FUELIOWA BENEFIT FOR CAMP COURAGEOUS

Iowa City, Iowa

AUGUST 1-2, 2024

SUMMERFEST AND ANNUAL MEETING

Okoboji, Iowa

JANUARY - FEBRUARY 2025

LEGISLATIVE LUNCH AND LEARNS LOCATION TBA

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2024 LEGISLATIVE LUNCH AND LEARNS AND LEGISLATIVE MEETING ON THE HILL

FUELIowa's Lunch and Learn series continued its success in January and February, with engaging conversations between members, legislators, and staff.

We're thrilled to report that our new Storm Lake location was well-received. A big thank you to all attendees and the legislators who made time for these important meetings.

Your participation reinforces the value of our legislative outreach efforts and fosters meaningful connections and advances our mission to support Iowa's fuel industry.

On March 7, FUELIowa and the Iowa Corn Growers Association joined forces to hold a series of impactful meetings at the Iowa State Capitol with legislative leadership and the Governor's Staff. This strategic collaboration showcases the strength of industry partnerships in advancing shared priorities.

Thank you to all who participated in these important discussions. Together We FUELIowa.

FUELIOWA // www.FUELIowa.com 25

INSIDE THE BELTWAY

March 7, 2024 - This was a big week in Washington. Congress is on the brink of averting a shutdown of half of the federal government, and President Joe Biden delivered his state of the union address which signals the beginning of the FY 2025 funding process. First, focusing on appropriations. After reaching a bipartisan, bicameral agreement last week, Congress took the first steps to passing a $460 billion package to fund half of the federal government, with the House passing the mutually agreed upon bill and the Senate expected to do the same before leaving town for the weekend. In addition to funding a significant portion of the government for the remainder of the fiscal year (which ends September 30), the bill includes several critical policy provisions, including shuttering the Northeast Gasoline Supply Reserve, which was established in response to Hurricane Sandy, and which holds roughly 1 million barrels of oil. The bill also removed a provision that would have created a SNAP (food stamps) pilot program that would have prohibited SNAP recipients from purchasing common household items, such as whole or 2 percent milk, white bread, deli meats, and many canned goods—things often purchased at convenience stores. Instead, individuals in states enrolled in the pilot would be required to purchase “nutrient dense foods and beverages.”

In addition, last night, President Biden presented his plan for the remainder of the year (and possibly, his presidency). In his speech, which discussed growing American manufacturing—including the importance of union labor and the clean energy industry – the President

ENERGY MARKETERS OF AMERICA

discussed his plan to half America’s carbon emissions by 2030, grow the domestic EV battery manufacturing base, and install half-a-million EV chargers nationwide. He also touted the investments being made across the country because of investments from the Infrastructure Investment and Jobs Act (IIJA), Inflation Reduction Act (IRA), and the CHIPS and Science Act. The President also called for a hike in corporate minimum taxes from 15 to 21 percent (which is level with the corporate tax rate), and a 25 percent tax on any individual earning $1 million per year or more. While State of the Union speeches are often more aspirational than operational, this shows the focus of President Biden looking ahead.

In addition to all of that, House Republicans held several markups of bills of interest to EMA and its members. First, the House Energy and Commerce Subcommittee on Environment, Manufacturing, and Critical Materials Air Quality Standards Implementation Act of 2024 bill was approved along party lines. If passed, it would double the mandatory review period for NAAQS from 5 to 10 years and it would require EPA to review the negative economic impacts that may be felt if it pursues stricter emissions standards. It would also require more state officials to be included on federal oversight committees. If passed by the full committee and the House, it is unlikely to be enacted by the Senate, given Democrats staunch opposition to the proposal. Separately, the House Oversight Committee voted out a bill that would prevent Washington, DC from implementing California’s draconian emissions standards. Despite

this party-line passage in committee, like the prior bill, the D.C. Consumer Vehicle Choice Protection Act, introduced by Rep. Anna Paulina Luna (R-FL), has a murky path through the House and an even less sure path in the Senate.

Meanwhile, the House unanimously passed H.R. 3277, the Energy Emergency Leadership Act, sponsored by Reps. Tim Walberg (R-MI) and Lisa Blunt Rochester (D-DE). H.R. 3277 is important for marketers because it would elevate DOE’s emergency functions by raising the director of DOE’s Office of Cybersecurity, Energy Security and Emergency Response (CESER) position to an assistant secretary which would strengthen DOE coordination and accountability. The changes in focus and in leadership authority will strengthen response capabilities to prevent and effectively respond to outside threats to our energy infrastructure.

U.S. District Court Judge Finds Corporate Transparency Act Unconstitutional

A U.S. District Court judge in Alabama has ruled that the Corporate Transparency Act (“CTA”) Beneficial Ownership final rule is unconstitutional because it “exceeds the Constitution’s limits on the legislative branch” and fails the “necessary and proper” test. The plaintiffs in this case, the National Small Business Association and one of its members, sued in November 2022, seeking a permanent injunction against the implementation of the CTA reporting rules. For now, however, the injunction only applies to the plaintiffs

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in the lawsuit. All other reporting companies (who are not plaintiffs in this case) are still bound by the CTA and should continue to comply for now. As a reminder, under the CTA, companies must disclose the identities and other information about anyone who owns a stake of at least 25% or exercises significant control over the company. Existing companies have until the start of 2025 to file their disclosures. This decision will not be the end of the matter. EMA expects the U.S. government will appeal the decision to the Court of Appeals for the Eleventh Circuit. Marketers should understand that court cases can be lengthy and uncertain processes, and this could easily be overturned by the Eleventh Circuit.

Convenience Store Trade Associations

Respond to Senators – We Need E-Cigarette Regulatory Clarity

Yesterday, EMA joined NACS, NATO, NATSO and SIGMA in a letter to Senators Durbin (D-IL), Wyden (D-OR), Sanders (D-VT), Brown (D-OH), and Blumenthal (D-CT) in response to letters the Senators sent to several retail and supplier companies to stop sales of illicit flavored vaping products. The c-store industry letter reiterated that it is FDA’s responsibility to provide clarity as it is the agency with regulatory authority over these products. Unfortunately, the market is characterized by widespread regulatory confusion. Businesses have tremendous difficulty deciphering the regulatory status of e-cigarettes products. The result is that even good actors who expend significant resources attempting to comply with the legal limits on sales of e-cigarettes

products may inadvertently sell products that should not be sold. If the FDA would provide an up-todate and accurate list of the status of e-cigarettes products, then industry could effectively comply and ensure that illegal vape products are not sold in the marketplace.

Friday, March 15, 2024 - The EPA released its long-awaited final rule that regulates volatile organic compound (VOC) emissions from bulk plants with gasoline storage tanks. The final rule is a big victory for energy marketers because it exempts bulk plants with an annual average daily gasoline throughput that does not exceed 4,000 gallons per day from expensive vapor balancing equipment retrofit requirements.

The National Emission Standards for Hazardous Air Pollutants (NESHAP) proposed rule would have required all bulk plants with a maximum design capacity of 4,000 gallons or more per day of gasoline throughput to add vapor balancing equipment to loading racks. The 4,000-gallon maximum design capacity language represents a theoretical daily gasoline throughput based on bulk plant design characteristics rather than actual daily gasoline throughput which is typically a much smaller volume.

EMA submitted written comments on the proposed rule and met regularly with the EPA, the Small Business Administration Office of Advocacy, the White House Office of Management and Budget and members of Congress to express deep concern over the proposed design

capacity throughput language, the failure of the agency to accurately estimate the number of bulk plants affected by the rule and the economic impact a vapor balancing retrofit would have on small business energy marketers. Based on gasoline bulk plant surveys and upgrade cost information collected by EMA, the cost to upgrade a gasoline bulk plant to a vapor balance system for both transport unloading and tank vehicle loading would exceed $120,000 per facility if the proposed rule were finalized.

Last year, Senator Kevin Cramer (RND) and Congressman John Joyce (R-PA), along with 82 lawmakers including Democratic Representatives Angie Craig (MN) and Bennie Thompson (MS), sent a bicameral/ bipartisan letter to the EPA arguing that the proposed rule would lead to “higher fuel costs or the elimination of intermediate gasoline storage at small bulk plants, impacting supply to end users offering vital services to their local communities and potentially cutting off whole communities during an emergency.”

EMA’s efforts paid off as the EPA adopted the 4,000-gallon actual daily gasoline throughput trigger in the final rule. The EPA also agreed with EMA that the 4,000-gallon daily throughput should be averaged on an annual basis rather than a daily basis. EMA told the agency that annual averaging was essential in order to allow marketers to periodically surpass the 4,000 gallons of gasoline per-day to meet unusual demand without triggering the vapor balancing retrofit, provided annual daily throughput

FUELIOWA // www.FUELIowa.com 27

averaged over a year did not exceed 4,000 gallons. The EPA agreed to include annual daily throughput averaging into the final rule as well.

The final rule also changes cargo tank vapor tightness test standards from a graduated tightness requirement ranging from 1.0 to 2.5 inches of water pressure drop over five minutes depending on compartment size to a slightly more stringent 0.50 to 1.25 inches of water pressure drop over the same period. Cargo tank test facilities confirmed with EMA during the comment period for the proposed rule that the vapor tightness test changes in the final rule would not require any cargo tank equipment retrofit requirements. Also, the rule requires annual leak detection inspection using optical gas imaging. Monthly inspections using sight, sound and smell remain largely unchanged.

EMA will provide a comprehensive compliance document for marketers in the near future.

March 29, 2024

Following last week’s passage of the final FY 2024 appropriations bills, Congress decamped for recess. But even with Congress out of town, there were still some major developments for EMA and our members. First, Sen. Mike Crapo (R-ID), Chairman of the Senate Finance Committee, introduced a Senate bill that would block EPA’s ability to implement the newly finalized tailpipe emissions rules before the end of the year. Initially, Sen. Crapo had intended to include this on last week’s appropriations bills, however, due to the timing of that bill and the looming possibility of a government shutdown, the Idaho Republican agreed to move forward with the bill as a standalone measure. It will be voted on soon, though its pathway to passage is

unclear. Another related proposal being led by Sens. Pete Ricketts (RNE) and Dan Sullivan (R-AK) would overturn the rule altogether using the Congressional Review Act (CRA), a measure that allows Congress to not only strike federal regulation, but also to prevent it from being introduced in the future.

Meanwhile, the EPA today issued new tailpipe emissions requirements for heavy-duty trucks through 2032 which is a defacto electrification mandate. However, the trucking industry isn’t expected to move toward electrification designs given that it will be a heavy lift due to up-front costs. Chris Spear, president and CEO of the American Trucking Associations, said in a statement that he "opposes this rule in its current form because the post-2030 targets remain entirely unachievable given the current state of zero-emission technology, the lack of charging infrastructure and restrictions on the power grid." The new rule covers delivery vans, garbage trucks and school buses and everything up through long-haul 18-wheelers. Todd Spencer, president of the Owner-Operator Independent Drivers Association, slammed EPA for being "dead set on regulating every local mom and pop business out of existence with its flurry of unworkable environmental mandates."

The final version gives more time for manufacturers in the earlier model years starting with 2027 to develop technologies and deploy infrastructure mirroring California’s Advanced Clean Truck rule which EPA approved a year ago. “EPA’s new heavy-duty emissions rule is challenging, but Ford is working aggressively to meet the moment,” Cynthia Williams, Ford's global director of sustainability, homologation and compliance, said in a statement. Ford is part of the Heavy-duty

Leadership Group, a coalition backing the rule that also includes engine maker Cummins and parts suppliers BorgWarner and Eaton.

In fact, the CRA has become increasingly relevant, because should Republicans add the Senate and the White House to entities under their control, they’d be able to overturn any number of Biden Administration regulations, but only those finalized within 60 legislative days of such CRA action. This means that the Biden Administration will want to move quickly to ensure its regulations cannot be repealed, so we may see a flurry of regulation in the coming weeks because, while the 60-day strike date is unclear, one thing isn’t—the sooner the better for the Biden Administration. Worth noting, however, is that this is only relevant if Republicans have the House, Senate, and White House. If any remain under Democratic control, it will be near impossible for the next Administration to win these legislative battles. Still, the CRA isn’t the only major battle coming, because regardless of who wins the election, Congress is poised for a major tax fight as many of the breaks implemented by the 2017 Tax Cuts and Jobs Act (TCJA) expire, which may be ok with Democrats while Republicans may try to use the tax bill to revoke tax provisions incorporated under the Inflation Reduction Act (IRA).

Speaking of the IRA, the House Energy and Commerce Committee Majority raised concerns that the Energy Department’s efficient building codes efforts—underwritten by $1 billion in IRA—would raise costs for consumers while breaching state and local regulatory authority. They also noted the rules could lead to liquid fuel bans or requirements that new homes include EV charging. The Department of Energy disputed some of this, noting

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“the Federal government does not issue or force the adoption of building codes, but the Department of Energy assists private organizations in their efforts to develop cost-effective codes.” All that to say, there is a lot of action in the regulatory space, and EMA will be working to ensure our member’s priorities are incorporated.

Proposed Visa/Mastercard Swipe Fee Settlement Won’t Help Main Street

A proposed agreement announced this week by Visa and Mastercard to reduce “swipe” fees charged to retailers to process credit card transactions would provide “very small relief” and does not end the need for Congress to pass legislation, the Merchants Payments Coalition said. “This settlement is a bad deal for retailers,” MPC Executive Committee member and National Grocers Association Senior Vice President of Government Relations and Counsel Christopher Jones said. “A few years of very small relief followed by business as usual is not a good outcome from 20 years of litigation. The settlement does nothing to actually bring competitive market forces to swipe fees or change the behavior of a cartel that centrally fixes rates and bars competition. Instead, it tries to provide token, temporary relief and then allows the card companies to raise rates yet again. Congress needs to act so that we will have real reform that will benefit retailers and their customers.”

Under a proposed settlement in longrunning class action litigation, Visa and Mastercard would lower credit card swipe fees – which currently average 2.26 percent of the transaction amount –by at least four basis points for at least three years. For five years, swipe fees would not increase above rates that existed at the end of 2023. Also, for five years, the average rate would be at least seven basis points below

the current average.

“Those reductions are within the range that Visa and Mastercard have raised swipe fees over the last few years and fall far short of the relief that is needed,” Jones said. The average Visa-Mastercard swipe fee rate has grown, rising from 2.02 percent in 2010 to 2.26 percent in 2023, according to data from the Nilson Report.

Credit and debit card swipe fees have more than doubled over the past decade and soared to a record $172.05 billion in 2023, up from $160.7 billion in 2022, according to the Nilson Report. They are most retailers’ highest operating cost after labor and are too much to absorb, driving up prices paid by the average family by over $1,000 a year.

Visa and Mastercard credit card swipe fees alone totaled $100.77 billion in 2023, rising from $93.2 billion the year before and topping the $100 billion mark for the first time.

The settlement proposal comes as Senate Judiciary Committee Chairman Richard Durbin (D-IL), one of the lead sponsors of the Credit Card Competition Act (CCCA), plans to hold a hearing on lack of competition over swipe fees. The CEOs of Visa and Mastercard have refused to appear at the hearing, and Durbin said last week that the refusal to publicly defend “skimming of every credit card transaction in America speaks volumes.”

Visa and Mastercard – which control 80 percent of the market – each centrally set the swipe fees charged by banks that issue cards under their brands, and also block transactions from being processed over other networks that could do the job with lower fees and better security. The legislation would require banks with

at least $100 billion in assets to enable cards they issue to be processed over at least two unaffiliated networks –Visa or Mastercard plus a competitor like NYCE, Star, Shazam or Discover. The ban on running transactions over a competing network means none of the networks could be added without passage of the CCCA, including Discover, despite the recent announcement of its merger with Capital One.

Banks would choose which networks to enable but retailers would then decide which to use, resulting in competition over fees, security and service that is expected to save retailers and consumers over $15 billion a year. Rewards would not be affected, security would be improved, consumers would still use the same cards, and community banks and all but one credit union would be exempt

FUELIOWA // www.FUELIowa.com 29

Summer FUELIowa Events

You don't want to miss out on any of the activities that FUELIowa has planned. Our summer activities are the perfect way for you and your employees to network, have fun, and make lasting memories. From golf and bags tournament to Okoboji night life, FUELIowa has something for everyone. Don't miss out on the adventure!

June 10, 2024 Golf Benefit Supporting Camp Courageous

First on the calendar is the ever popular benefit for Camp Courageous. Finkbine Golf Course hosted the golf event last year, and it was so well received that we have decided to return there again this year. Camp Courageous of Iowa is a year-round respite care and recreational facility for individuals of all ages with disabilities. The camp was established in 1972 with the first 211 campers attending in the summer of 1974. Today, Camp Courageous serves over 7,000 individuals with disabilities in a yearround program.

This partnership has special meaning for FUELIowa and its members. You can find information regarding sponsorships and registrations as well as contact information for the event on the following page.

Mark your calendar for Monday, June 10th, at Finkbine Golf Course in Iowa City, Iowa. All proceeds from this event go directly to Camp Courageous, and will help ensure that people with disabilities are able to benefit from its programs. We hope you'll join us and support this great cause.

August 1 -2, 2024 SUMMERFEST and Annual Meeting

FUELIowa's annual fundraiser for the PAC will be held in Okoboji on August 1-2. Join us for networking, Annual Meeting, bags tournament, golf, auction and more.

SUMMERFEST will raise funds for FuelIowa PAC, a political action committee (PAC) focused on

helping elect candidates who support the oil and gas industry in Iowa.

Sponsorships and registration are available now. You can find registration information on the following pages. Don't miss out on this opportunity to support FuelIowa PAC. We look forward to seeing you in Okoboji!

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JUNE 10, 2024

Finkbine Golf Course

Iowa City, Iowa

GOLF

Enjoy 18 holes at Finkbine Golf Course, a premier golf facility in Iowa City, Iowa. This is a 4-person scramble with shotgun start complete with pin prizes and a putting contest. Beverage carts will keep you cool all day.

DINNER

Meet up in the club house after the 18th hole to tell everyone about your great shots. We will have cocktails, a short program, prime rib dinner and dessert and prizes. Don’t forget to purchase your 2024 Camp Courageous / FUELIowa commemorative car.

TRAVELING TROPHY

If you are up for some friendly competition and bragging rights, the traveling trophy is at stake. Who will win this year?!

Camp Courageous of Iowa is a year-round respite care and recreational facility for individuals of all ages with disabilities. The camp was established in 1972 with the first 211 campers attending in the summer of 1974. Today, Camp Courageous serves over 7,000 individuals with disabilities in a year-round program. Learn more about the Camp online at campcourageous.org.

FUELIOWA // www.FUELIowa.com

FUELIowa will host their Annual Meeting, giving members the opportunity to discuss key issues of importance to our members. Following the Annual Meeting, stay for SUMMERFEST where FUELIowa members and friends come together in a fun and relaxing atmosphere. SUMMERFEST helps build relationships and by attending, you signal that you support our great industry. Through sponsorships, registrations, and donations, we are able to fund the FUELIowa PAC. There has never been a more enjoyable way to support the FUELIowa PAC.

BAGS & COCKTAILS

What’s better than a game of bags? The obvious answer is, of course, two games of bags! We will kick-off our annual bags tournament with views of beautiful Lake Okoboji while enjoying cocktails, hors d’ oeuvres, and conversation. Let’s have some fun!

DINNER & RECEPTION

Mix and mingle on the shore at the beautiful Waterfront Event Center at Bridges Bay Resort. We will have open bar, steak or scallops dinner, and dessert as we watch the sunset over the lake. Enjoy a comedian, and after dinner, explore all that Okoboji has to offer.

GOLF

Day two, it is time to hit the links! Enjoy 18 holes at Brooks Country Club - Okoboji’s premier golf facility. This is a 4-person scramble with shotgun start complete with pin prizes and a putting contest. Lunch is provided and beverage carts will keep you cool all day. Meet up after at the 19th hole to settle your bets and collect your prizes.

FAMILY FUN

Not a golfer? Take advantage of Bridges Bay Resort, Lake Okoboji or a day at Arnolds Amusement Park. Bridges Bay features a pool, waterpark, restaurants on the water and much more, perfect for a long weekend. Spouses and family can participate with you at events, take a cruise on the famous Queen II, or they can be free to explore everything on their own while you network!

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10430 New York Ave Ste F, Urbandale IA 50322 | 515.224.7545
2024 DAY ONE DAY TWO
August 1-2,

SUMMERFEST | August 1-2, 2024 | Okoboji

Our annual action packed event in support of the FUELIOWA-PAC. Join us for a cocktail reception, dinner & silent auction with family and friends. Enjoy fun in the sun and a choice of golf or a day at Arnolds Park! Pay with personal funds to be included on the 2024 FUELIowa PAC Donor List.

Day 1

5:00 p.m. Cocktails, Dinner & Reception

6:00 p.m. Silent Auction

7:00 p.m. Bags

HOTEL: Bridges Bay Resort, call (712) 332-2202 & reference FUELIowa for a preferred rate.

REGISTRATION INFORMATION

SCHEDULE OF EVENTS: Check fueliowa.com for schedule and time updates. *PERSONAL FUNDS: Please make PERSONAL checks payable to the

SUMMERFEST - $200 per attendee, dinner, open bar, bags tournament, & choice of golf or Arnolds Park.

DAY 1 SPONSORSHIPS

 Dinner Reception (2) ....................................................$1500

 Entertainment Sponsor (2).............................................$1000

 Open Bar (3) ................................................................. $500

 Auction Prize (fund or donate item) $500

 Bags Tournament (2) ................................................... $500

 Donate to the FUELIowa-PAC (*Personal Funds) .$_____

Includes 8 Mulligans/4 extra drink tickets 1

PAYMENT INFORMATION

DAY 2 SPONSORSHIPS

 Breakfast $500

 Gift Bag Sponsor ......................................................... $500

 Lunch / Awards Sponsor ...........................................$1000

 Cigar Sponsor ..............................................................$1000

 Putting Contest ..........................................................$1000

 Hole Sponsor $1000

Includes Four (4) SUMMERFEST Passes

 Beverage Cart Sponsor (2) ....................................... $1,000

 Hat Sponsor (2) ........................................................... $2000

 Pin Prize Sponsor (4) ..................................................... $250

 Pre-purchase Mulligan Package ............................... $100

Disclosure: In the event of inclement weather or other possible changes, we will not reschedule. Please consider your fees a donation.

FUELIOWA // www.FUELIowa.com 33
RSVP
 PERSONAL Credit Card Card Exp Date  VISA  Master Card  AmEx  Discover Name on Card Signature Billing address if different from Primary Contact information.
TOTAL $
*TOTAL DUE $  PERSONAL Check Enclosed
SUBMIT
FUELIowa, 10430 New York Ave Ste F, Urbandale, Iowa 50322 | Questions? Call (515) 421-4596 or e-mail jim@fueliowa.com. Download a PDF registration form online at www.FUELIowa.com Primary Contact: Company: Address: City: State: Zip: Email: Phone: ()- Cell: ()-
REGISTRATION AND PAYMENT
    $ 2     $ 3     $ 4     $ 5     $ 6     $
NAME COMPANY or GUEST EMAIL
Tournament 9:00 p.m. Okoboji Night Life Day 2 7:00 a.m. Golf Registration Opens – (coffee, juice, donuts) 8:00 a.m. Golf Shotgun Start - Brooks Country Club Golf 10:00 a.m. Arnolds Park (non-golfers) (includes rides, cruise on the Queen II & museums) 12:30 p.m. Lunch / Awards Ceremony
PERSONAL
Boat Dinner Golf or Park
FUELIowa-PAC or use PERSONAL credit cards. If monies received are not drawn on
FUNDS the monies will be deposited in to the Political Education Fund (PEF).
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2024 FUELIOWA S P ONS O R S

Lower carbon fuel solutions for your fleet—starting today. A complete line of high-quality biofuels, Chevron Renewable Energy Group’s EnDura Fuels™ is a simple way to help move your fuel forward by enabling reduced carbon intensity, improving engine performance, and maintaining operations — now. Visit regi.com for lower carbon fuel solutions.

FUELIOWA // www.FUELIowa.com 35
Chevron Renewable Energy Group, Renewable Energy Group, REG, the logo and the other trademarks and trade names referenced herein are trademarks of Chevron U.S.A. Inc.© 2023 Chevron U.S.A. All Rights Reserved. BIODIESEL RENEWABLE DIESEL RENEWABLE DIESEL + BIODIESEL ULTRA BIODIESEL
regi.com
Renewable fuels drive change and power possibility.
36 PRESORTED STANDARD U.S. POSTAGE PAID DES MOINES, IA PERMIT NO. 1988 10430 New York Ave Ste F Urbandale IA 50322 Blending renewable fuels? Interested in RINs? RINAlliance helps blenders stay compliant with U.S. EPA’s Renewable Fuel Standard (RFS) while maximizing profits. Call us today to learn how you can benefit! www.RINAlliance.com

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