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Kyle Pattison's Letter To The Editor

By Kyle Pattison 25 May, 2016

By now everyone has noticed much cheaper gasoline.  Some of us are old enough to remember gas wars, where stations would get into battles with their competitors to see who could sell gas the cheapest.  That is sort of what is happening now.  But, this time it is countries battling it out.  OPEC, led by the Saudi’s, is trying to kill off American hydraulic fracturing.  This technology of hydraulic fracturing is changing everything.  OPEC can no longer control supplies and prices.  We are no longer hostage to them and they don’t like it.  In the face of this growing oil glut, Saudi Arabia actually increased its oil production to bankrupt American frackers.

Their efforts are hurting a lot of American energy companies and those who supply them…including ours.  We have been forced to lay-off people.  Fortunately, we are able to continue to pay for their health insurance while they are off, but it’s still tough.

Some people question why we are asking Clayton County to re-zone some land to secure additional sand reserves while energy is in a slump?  There are several reasons, but here are the two most important.  First, our business requires enormous capital investment in trucks, massive equipment and it is important to have a consistent, minimal cost, long-term plan that does not change.  Second, we are very bullish on the future of our business over the long haul.  Hydraulic fracturing is just about the cheapest way to produce energy today.  We are confident low-cost energy will help turn our economy around and bring jobs back to the United States.  Once oil prices go up, the economy improves and our business will begin to grow again.  Newer technologies for fracking (and even re-fracking) of wells use even more sand and are lowering costs.  That is good for us and the local economy.

If you would like more information, please visit our home page. There you will find a new video that we’ve produced.  It tells the story of our people and what they do every day.  It’s called “The Road” because the road to energy independence starts here.  We think you will like it.  You will also find a link to a recent piece in the Wall Street Journal that details why OPEC will fail and American fracking will prevail.

Last modified on Wednesday, 25 May 2016 23:00
Kyle Pattison

Kyle graduated from the University of Iowa with a degree in accounting and understands the value of association. He has served on the National Feed and Grain board for many years as well as the Agri Business Association of Iowa which led to becoming the Chairman of the Board.

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The Pattison family has, for their entire 60-year history, consistently proven their commitment to their customers, employees, their community and the environment.

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