John Cripe on the current crude oil situation and what producers can do (3 minutes, 30 seconds, MP3)
One energy analyst tells Brownfield he expects crude oil prices to stay within the recent trading range heading into harvest. According to Growmark Manager of Energy Price Risk Management John Cripe, prices are just about at equilibrium and supply shouldn’t be much of an issue this year – “We’ve got a big crop to haul in, but there’s plenty of diesel, plenty of propane, so I see the rest of 2009 as being kind of anticlimactic.”
However, Cripe adds, “When you get into 2010 and 2011, I’m pretty concerned about price spikes again.”
Cripe encourages farmers to find a supplier that will offer forward contracts adding that he’s found the best time to lock in prices is around December and January.
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