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Edgar Filing: TIDELANDS OIL & GAS CORP/WA - Form 10-K - page 13 / 83

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Edgar Filing: TIDELANDS OIL & GAS CORP/WA -

Form 10-K

propane

for

rely heavily propane sold

heating

purposes.

on

propane

as a

is

at

its

highest

ropane

customers

l. The

volume of

peak

six-month

All

of

our

p

heating

fue

during

the

heating season affected by the

o s

f October through everity of the winter

March weat

and her.

is We

directly estimate

that

approximatel

volume

will

be

s

conditions

can var

year to

year,

performance.

Furt

y

two-thirds

old

during

of

our

annual

these

months.

y

substantially

from

quart

significantly hermore, warmer

affecting than norma

retail propane Actual weather er to quarter and

our financial l temperatures in

our

service

area

c

of

propane

we

sell

vary

significantl

Weather adverse

condition effect on

an . y

significantly Consequently,

due

to

actual

s in any quarter our operations.

decrease

the

our opera

ting

total volume results may

or

changes

year

ma

in temperature. y have a material

o

Sudden and sharp p

ropane price increases that

cannot be passed

on to customers may adversely affect our profits, cash flow.

income, and

o

Energy efficiency and propane and our revenues.

technology

may reduce the demand for

o

The national technological

trend

toward

increased

conservation

and

advances,

including

installation

of

improved

insulation and the development of more

other

heating

devices,

has

adversely

efficient furnaces affected the demand

and for

propane by

retail

efficiency

measures

customers.

Future

or

technological

conservation

and

advances

in

heating,

conservation, energy generation, or other devices might reduce demand for propane and our revenues.

o

The

propane

business

is

highly

regulated.

New or stricter

  • -

    11-

environmental,

health, or safety regulations may increase our

operating costs and reduce our net

income.

o

The

propane

business

is

subject

state,

and local

environmental,

safety

laws

and

regulations

distribution,

and

increased

costs

in

transportation the future due

to a wide range

of federal,

transportation,

health and

governing

the

of propane.

We

storage, may have

to

new

or

stricter

safety,

health,

transportation,

and

environmental

regulations

or

liabilities

resulting

from

other regulatory

permits.

non-compliance The increase in

with operating or any such costs may

reduce

our

net

income.

o

We will be associated delivering

subject to all ope

with

handling,

combustible

liqu

consumers. As a result, we ma

proceedings

and

litigation

business. Our

insurance

may n

all material

expenses

relat

personal injury available in the

occurrence

of

a

and property

future at

ec

serious

ac

involved, may have use our products.

an

adverse

dant in vari

ous legal

he ordinary

course of

te to protec

t us from

ial future c

laims for

hat insuranc

e will be

ces. In addi

tion, the

ther or no

t we are

he public's

desire to

rating hazar

storing,

arising

in

t

effect on t

ids

such as

y be

a defen

ot

be

adequa

ed

to

potent

onomical

pri

cident,

whe

ds and risks

normally

transporti

ng, and

propane f

or use by

damage or t

GOVERNMENT REGULATION AND ENVIRONMENTAL MATTERS

13

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