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E+I 3088

īĞĐƟǀĞůLJ ŵĂŶĂŐĞ ƚŚĞ ƉƌŝĐĞ ƌŝƐŬ

ŽĨ ƌŝƐŝŶŐ Žƌ ĨĂůůŝŶŐ ĨƵĞů ƉƌŝĐĞƐ ǁŝƚŚ

ŝĞƐĞů ,ĞĚŐĞ &ƵƚƵƌĞƐ ĂŶĚ KƉƟŽŶƐ͘

COMMODITY DERIVATIVES

Diesel Hedge

dŚĞ ŝĞƐĞů ,ĞĚŐĞ ŐŝǀĞƐ LJŽƵ ĞdžƉŽƐƵƌĞ ƚŽ ĂŶ

ĞĸĐŝĞŶƚ ŚĞĚŐĞ ĨŽƌ ƚŚĞ ůŽĐĂů ĚŝĞƐĞů ƉƵŵƉ ƉƌŝĐĞƐ ďLJ

ƚƌĂĐŬŝŶŐ ĂŶ ŝŶƚĞƌŶĂƟŽŶĂů ƌĞĨĞƌĞŶĐĞ ŵĂƌŬĞƚ͘ EŽǁ

LJŽƵ ĐĂŶ ƌŝĚĞ ƚŚĞ ĨƵĞů ƉƌŝĐĞ ǁĂǀĞƐ ǁŝƚŚ ĐŽŶĮĚĞŶĐĞ͘

dĂůŬ ƚŽ ƵƐ ĂŶĚ ĮŶĚ ŽƵƚ ŚŽǁ͘

Ϭϭϭ ϱϮϬ ϳϬϬϬൟĐŽŵŵŽĚŝƟĞƐΛũƐĞ͘ĐŽ͘njĂ

ǁǁǁ͘ũƐĞ͘ĐŽ͘njĂ

:ŽŚĂŶŶĞƐďƵƌŐ

^ƚŽĐŬ džĐŚĂŶŐĞ

Are energy prices

ĐƵƫŶŐ ŝŶƚŽ LJŽƵƌ

ďŽƩŽŵ ůŝŶĞ͍