The official start of propane heating season is only two months away, and inventories are skinny, pretty close to the five-year minimum. Should that be a concern? After all, stocks were at the low end of the range last year, and it was a relatively benign market, with few supply chain disruptions. But there’s a potential gotcha in that statement. Because last year the first three months of winter were quite mild in propane country. What would happen if the market were hit with weather events like what we saw during the “polar vortex” of 2013-14, a winter etched into the minds of all propaners who lived through it? Obviously, the outcome would be quite different. In today’s RBN blog, we continue our series on the upcoming propane heating season with a look at the challenges that unusually cold weather could bring.
Visualize the infrastructure behind U.S. NGL movement.
The U.S. NGLs Map provides a comprehensive view of the transport, processing, and export networks moving NGLs across the U.S.
This is the second episode of a blog series focused on the outlook for U.S. propane markets during the upcoming 2022-23 heating season. Part 1 was mostly a look in the rear-view mirror, covering the huge increase in export volumes over the past few years, the wide swings in domestic propane seasonal demand, and a cycle-by-cycle review of propane price behavior over the past 18 months. The bottom line is that last year propane prices spiked way up prior to the onset of winter due to a confluence of bullish market developments, then virtually collapsed in November and December when winterlike weather failed to arrive on cue. In essence, prices were high when marketers were building stocks and low when it was time to move those supplies to market. That is not the way it is supposed to happen and can be painful for any company not using the most robust hedging strategies.
Nobody wants to make that same mistake again and be stuck with overpriced inventories this year. But neither does anyone want to be caught with inadequate stocks if and when really cold weather hits. What’s a prudent propaner to do?
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About the song
"People Get Ready" was written by Curtis Mayfield and appears as the seventh song on The Impression's fourth studio album of the same name. Released as the second single from the LP in February 1965, the song went to #3 on the Billboard R&B chart and #14 on the Billboard Hot 100 Singles chart. Mayfield wrote the song in 1964, after the March on Washington; the church bombing in Birmingham, AL; and the assassination of President Kennedy. Reverend Martin Luther King Jr. named it the unofficial anthem of the Civil Rights Movement. Many artists have covered the song over the years, including Aretha Franklin, Al Green, the Staple Singers, Bob Dylan, and Bob Marley, who combined the song with his "One Love." Rod Stewart and Jeff Beck released a version in 1985, which went to #5 on the Billboard Mainstream Rock Songs chart and #48 on the Billboard Hot 100 Singles charts. The song was inducted into the Grammy Hall of Fame in 1998. Personnel on the original record were: Curtis Mayfield (lead vocals, guitar), Fred Cash, Sam Gooden (backing vocals), and various Chicago studio musicians assembled by producer Johnny Pate (instrumentation).
The album, People Get Ready, was recorded in 1964 at Universal Recording in Chicago, with Johnny Pate producing. All the songs on the album were written by Curtis Mayfield. Released in February 1965, the album went to #1 on the Billboard R&B Albums chart and #23 on the Billboard 200 Album chart. Three singles were released from the LP.
The Impressions were an American doo-wop, gospel, soul and R&B group formed in Chicago in 1958. R&B singers Jerry Butler and Curtis Mayfield both got their professional starts in the group. Mayfield started singing in a gospel choir in his youth. He met fellow singer Jerry Butler in Chicago when he was 14, and later joined Butler in The Impressions. After Butler's departure from the group in 1962, Mayfield, along with Fred Cash and Sam Gooden — and under the direction of producer Johnny Pate — became the top-selling soul act, known worldwide as The Impressions. Mayfield left the group for a solo career in 1970. The Impressions released 20 studio albums, one soundtrack album,10 compilation albums and 76 singles. They are members of the Rock and Roll Hall of Fame and the Vocal Group Hall of Fame. Twelve members passed through the ranks of The Impressions since their formation. The group's career spanned six decades before officially retiring the name in 2018.
Curtis Mayfield became one of the most influential musicians behind soul music and politically conscious African-American music. The American singer, songwriter, guitarist, and record producer started a successful solo career that yielded sixteen studio albums, six soundtrack albums, four live albums, nine compilation albums, and 34 singles. He has a Grammy Legend Award, Grammy Lifetime Achievement Award, and is a member of the Grammy Hall of Fame. He has been twice-inducted into the Rock and Roll Hall of Fame, once as a member of The Impressions, and as a solo artist. Mayfield was paralyzed from the waist down after lighting equipment fell on him during a performance in New York in August 1990. He continued to record and perform until his death in December 1999.
