Business News: Lash Realty hires new agent, Lobster Festival gives back, Rotarians polio awareness walk, oil prices
Rotary International's End Polio Now campaign.
Sharon Lombardo, left, from the Maine Lobster Festival Association and Adrienne Randall, right, from the Teen and Young Parent Program.
Sharon Lombardo, of the Lobster Festival benefactions committee, hands a check for $950 to Don Carpenter, executive director of Trekkers.
Jacob Stevenson, of Waldoboro, has joined Lash Realty Group
Rotary International's End Polio Now campaign.
Sharon Lombardo, left, from the Maine Lobster Festival Association and Adrienne Randall, right, from the Teen and Young Parent Program.
Sharon Lombardo, of the Lobster Festival benefactions committee, hands a check for $950 to Don Carpenter, executive director of Trekkers.
Jacob Stevenson, of Waldoboro, has joined Lash Realty Group
WALDOBORO — Lash Realty Group has added Jacob Stevenson to its agency. Born and raised in Maine, Stevenson is a long time resident of Waldoboro. He spent extensive time exploring the Midcoast and getting to know the people who call it home.
“Being able to help clients in making such a big life decision is great, whether they’re buying or selling property the fact that they chose me to assist them really drives me to work hard,” he said, in a news release.
With a love for the Midcoast and a passion for architecture, “it seemed only fitting that he move to a career in real-estate,” the release said. His interest in the outdoors keeps his keen eye open for those details of nature important to Maine living. Stevenson can be reached at (207) 790-0252 or jstevenson@lashrealtygroup.com. Lash Realty Group serves the Midcoast providing personal and customer oriented details.
Lobster Festival gives back
ROCKLAND — Throughout the year, the Maine Lobster Festival gives the proceeds made during the Festival back to the local community in the form of donations and scholarships. The September donations went to Trekkers and the Teen and Young Parent Program.
The Maine Lobster Festival Board of Directors contributed $950 to Trekkers mentoring program in support of Trekkers' College/Career Exploration program for 11th grade students. This five-month program will help students identify and learn more about post-secondary and career options.
In addition to exploring more than 20 colleges, art schools and trade schools from Maine to Pennsylvania, students in this program gain insight into the college application process and discuss topics such as financial aid and return on investment.
Maine Lobster Festival also contributed $500 grant to the Teen and Young Parent Program. This money will support Books for Home Visits, a project that promotes literacy by providing all enrolled children with a new book at their monthly home visit.
The Festival committee has given more than $500,000 to the local community through support for organizations such as Midcoast Regional Child Development Services, Trekkers and Meals on Wheels.
To learn more about the Maine Lobster Festival's community efforts, contact them at 1-800-LOB-CLAW, or by email at info@mainelobsterfestival.com.
For more information about the Festival, visit website www.mainelobsterfestival.com, visit Facebook, or follow Twitter at @MELobsterFest.
Rotarians walk for Polio awareness
CAMDEN — Local Rotarians and their friends, along with members of the Midcoast Interact Club, walked through Camden, Saturday, Oct. 25, to raise awareness of and funds for Rotary International's End Polio Now campaign.
Polio is now endemic on only three countries: Afghanistan, Nigeria and Pakistan. Funds raised during the walk will help in the effort to complete eradicate this crippling disease.
Members of the Camden, West Bay and Rockland Rotary Clubs organized the walk, which brought together people of all ages.
Home heating oil prices drop to 2011 levels
The Governor's Energy Office conducted its weekly heating fuel price survey on Monday, Oct. 20,, and found the current statewide average cash price for No. 2 heating oil was $3.23 per gallon, dropping another 4 cents last week. This statewide average price is the lowest heating season price recorded by the Energy Office since January of 2011. The average statewide price for kerosene, $3.78 per gallon, is also five cents a gallon less than last week. Propane prices have remained fairly steady; the statewide average price dropped two cents to $2.84 per gallon (for heating customers). A year ago, in late October, heating oil averaged $3.54 per gallon; kerosene, $3.95, and propane, $2.67.
The price for Brent crude oil (the international benchmark) continues to fall, with no immediate plans by Saudi Arabia (the world's largest exporter) to decrease production http://www.bloomberg.com/news/2014-10-20/brent-oil-falls-as-opec-seen-waiting-to-take-action.html. Last week, Brent crude traded for the lowest price since late 2010. Flat worldwide demand and increased production both in the US and abroad, has resulted in price declines of 23 percent this year. West Texas Intermediate (WTI), the US price benchmark, also declined 16 percent this year. The Brent-WTI spread has also narrowed; both crude prices are now within a few dollars of each other.
What does this mean for Mainers' energy costs? Historically, heating oil prices are at their lowest in midsummer, then begin climbing with the onset of the heating season. Exactly the opposite has occurred this year; the statewide average for heating oil has dropped almost 30 cents a gallon over the last three months. If prices were to remain at this level for the season, the average Maine household heating with oil (e.g., 850 gallons per year) would save more than $400 over last year. However, prices are volatile, and a decision by OPEC (Organization of the Petroleum Exporting Countries) to cut production may make this a temporary reprieve.
Using last week's average heating oil price ($3.23), and converting to a common heating unit value (million Btu), the price of fuel oil is $23.29. This compares with an equivalent heating unit value for natural gas of $15.23 (at $1.52/therm); propane, $31.09 (at $2.84/gallon); kerosene $28.37 (at $3.78/gallon); wood pellets, $15.21(at $251/ton); cord wood, $11.36(at $250/cord) and electricity, $46.89 (at 16 cents per kwh).
These fuel-only prices do not take into account the type of heating system, nor its efficiency. For example, the electricity cost is for traditional baseboard heat. Other electric heating technologies, such as heat pumps and electric thermal storage (ETS), may offer consumers energy savings. Cold climate heat pumps, a recent technological advancement, are much more efficient than baseboard electric heat, so total energy costs are lower than many other types of heating fuels. ETS offers savings by utilizing off-peak electric rates, available in many areas of the state.
The Energy Office has a calculator on its web site that allows consumers to obtain more detailed estimates of home heating costs, and the price impacts of various types of fuel, heating systems and heating appliances. Heating costs vary considerably from home to home. The price for heating oil is a statewide average, and that prices in a given geographic region of the state may be considerably higher or lower than this average. This week, within the Energy Office sample, the highest heating oil price ($3.59) was found in one region in the state, and the lowest heating oil price ($2.80) was recorded in two regions. Also, the statewide average price for propane is based on a use of at least 900 gallons a year. Households using propane just for cooking or hot water generally pay a higher per gallon price. The table above provides current Maine cash prices in dollars rounded to the nearest penny.
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