00:00With cold weather still gripping much of the nation, many are looking for ways...
00:05...to warm up without driving up heating costs.
00:08Mike Stavala, president and...
00:10...CEO of Suburban Propane joins us to share why propane can be a smart option...
00:15...this winter.
00:16Mike, thanks for joining us.
00:17Great, thanks for having me.
00:19Well, Mike, we are...
00:20...in the midst of a really tenacious blast of Arctic chill here, occasional snow.
00:24It's been a tough...
00:25...winter for most east of the Rockies and the toughest in years for many of us.
00:30As we move through winter 2025 to 2026, what does this mean for American...
00:35...families and businesses?
00:36Well, first of all, safety is number one.
00:40You know, especially at Suburban Propane, safety is our highest priority.
00:44So, we haven't seen...
00:45...this kind of weather with harsh storms and really a lot of icing conditions.
00:50...over so much of the United States, certainly the eastern half of the United States...
00:55...and that causes some obvious challenges, making sure...
01:00...that people get the safety and comfort they deserve.
01:03But I'm really proud...
01:05...of the 3,000 employees of Suburban Propane that are out there every day.
01:10...fighting through the elements to make sure that our customers get the propane that they need.
01:15And, Mike, I have a pellet stove, which I love, but we really lean into electric heat for much of heating our...
01:20...home.
01:21...maybe I'm doing it wrong.
01:22We paid more last month than I have since we moved to our place in the past nine years.
01:25So, with the concern about higher heating costs and potential fuel shortages, how resilient is the...
01:30...propane supply right now?
01:31Well, I would say that propane, we're...
01:35...producing in the United States record levels of propane than we...
01:40...ve ever had.
01:41So, the supply of propane right now is...
01:45...is at some of the all-time high levels and...
01:50...and so, I think, given where we are with inventory levels...
01:55...it is keeping prices relatively low, even...
02:00...even though there's a huge spike in demand as the winter is upon us and...
02:05...there's so many homes that are reliant on propane to heat...
02:10...for heating, cooking, hot water, everything.
02:13So, there's a lot of...
02:15...demand, but it hasn't yet translated into significantly higher...
02:20...prices.
02:21...it ultimately...
02:22...we will see some higher prices, but I think relative to...
02:25...some of the other energy sources, we're in a really good position...
02:28...with inventory levels.
02:30That's really good to hear.
02:31Now, we've been reading some states, including your home state of New Jersey...
02:34...have reported...
02:35...some concerns about propane shortages in some places...
02:38...so, has suburban propane...
02:40...been impacted in any way?
02:41So, our supply guys do a great job...
02:45...preparing for this kind of a winter.
02:47You know, we are a national company...
02:49...so, one of the...
02:50...benefits of being national.
02:51We're in 42 states.
02:53So, we really plan...
02:54...well...
02:55...in advance of the heating season.
02:56We have great relationships with our suppliers...
02:58...to make sure that...
02:59...when...
03:00...when we need product...
03:01...we can be...
03:02...you know...
03:03...sort of...
03:04...almost at the front...
03:05...of the line, if you will.
03:06But...
03:07...I think...
03:08...the reality is...
03:09...
03:10...
03:10...we have...
03:11...plenty of propane today.
03:13We are starting to see some tightness.
03:15And...
03:16...and...
03:17...I think...
03:18...mostly as it relates to...
03:19...the icing conditions...
03:20...that are on the road...
03:21...that are just making it harder...
03:22...for some of the transport trucks...
03:24...and even some of...
03:25...the rail...
03:26...cars...
03:27...that bring propane...
03:28...to the terminals...
03:29...that...
03:30...that we pick up...
03:30...or that our...
03:31...our transport drivers...
03:32...pick up at...
03:33...in order to bring propane...
03:34...to our...
03:35...locations...
03:36...where we then deliver...
03:37...directly to the customer.
03:38So...
03:39...we are seeing...
03:40...some delays...
03:41...because of...
03:42...longer wait times...
03:43...tougher road conditions...
03:45...but as far as...
03:47...the amount of propane...
03:48...we're...
03:49...we're still managing...
03:50...very...
03:50...very...
03:51...well...
03:52...at this point...
03:53...well...
03:54...suburban propane...
03:55...will...
03:56...be celebrating...
03:57...100 years...
03:58...in business...
03:59...this year...
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