ILMA Compoundings - March 2021 - 3

BOARD OF DIRECTORS
President
Chuck Decker
American Oil &
Supply International, LLC
Treasurer
Michael Damiani
Radco Industries, Inc.
Secretary
Ann Ball
CIMCOOL Industrial
Products LLC
Immediate Past President
Barbara Kudis
Allegheny Petroleum
Products Co.

Barbara A. Bellanti
Battenfeld Grease &
Oil Corporation of N.Y.
Richard Camper
Pacific Precision
Formulators Inc.
Dave Croghan
Maxum Petroleum
Lon Fanning
DuBois Chemicals
Catharine T. Golden
Etna Products, Inc.
Frank H. Hamilton III
South Atlantic Services, Inc.
Greg Julian
Advanced Lubrication
Specialties
Michael McHenry
Master Fluid Solutions
Kent Morris
Pinnacle Oil, Inc.
David Richards
RichardsApex, Inc.

STAFF
Chief Executive Officer
Holly Alfano

Director of Marketing
Amber Lopez

Associate Director
Martha F. Jolkovski

Meetings Manager
Meg Thaxton

Senior Director of
Communications
Brenda Gillinson

Accounting Manager
Margaret Smith

Senior Manager of
Member Engagement
Tim Mack

General Counsel
Jeffrey L. Leiter
Associate Counsel
Matthew Levetown

EDITORIAL, DESIGN
Contributing Editor
Brenda Gillinson

Designer
Mark St. Amand

THE YGS GROUP
Senior Managing Editor
Sam Hoffmeister

Copy Editor
Amanda Holahan

Content & Copy Director
Craig Lauer

Account Manager
Max Lalwani

MEDIA SALES
President
Jack Davidson
Vice President
Serena L. Spiezio

Advertising Account
Executive
Tima Good
tima.good@theYGSgroup.com

INDEPENDENT LUBRICANT
MANUFACTURERS ASSOCIATION
675 North Washington Street, Suite 275, Alexandria, VA 22314
Phone: 703-684-5574 * Fax: 703-836-8503 * www.ilma.org
Editorial, Design, Media Sales, & Printed by The YGS Group
800-501-9571 * www.theygsgroup.com
Compoundings (USPS 003-447) is published monthly by the
Independent Lubricant Manufacturers Association,
675 North Washington Street, Suite 275
Alexandria, VA 22314.
Annual subscriptions: Members, $75 of annual dues;
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ISSN 1042-508X
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LETTER FROM THE CEO

You Better Start Swimmin'
" Come gather around people, wherever you roam
And admit that the waters around you have grown
And accept it that soon you'll be drenched to the bone
If your time to you is worth savin'
Then you better start swimmin' or you'll sink like a stone
For the times they are a-changin' " *

he anthem of 2021?
One by one, some of America's largest corporations started the year
announcing major shifts in their businesses.

* GM will phase out gasoline- and diesel-powered vehicles by 2035, and the
company plans to be carbon-neutral by 2040. The company has stepped out
ahead of competitors, one of the first to announce a timeline for a complete
transition to electric vehicles (EVs). Executives acknowledged that they are hoping government incentives for consumers will continue. In the meantime, they
have been investing in battery technology in an attempt to find more affordable
solutions for consumers. GM expects its battery technology, Ultium, will cut
costs as much as 60%. GM also entered into a joint venture with South Korean
company LG Chem and is investing $2.3 billion in a battery factory in Ohio.
* ExxonMobil plans to invest in carbon-capture technologies, in a move to
yield to the demands of activist shareholders. The company plans to invest an
additional $3 billion in the technology between now and 2025, though its
R&D division has invested in carbon capture for many years. Exxon says it
has captured more carbon than any other company.
* Royal Dutch Shell will cut back oil production, expecting production to decline
by 1%-2% annually, including asset sales. The company intends to cut production of gasoline and diesel by 55% over the next 10 years, while doubling the
amount of electricity it sells and rolling out thousands of EV charging stations.

Was it the fallout from the pandemic or the change in the White House that
prompted this new direction? It was probably a combination of both. Vehicle
miles traveled took a nosedive in 2020, and with new emphasis on remote work
and online consumerism, it's unlikely that there will be solid growth anytime
soon. And it's anticipated that President Joe Biden's Environmental Protection
Agency will toughen fuel efficiency and emissions standards early on. EVs will
likely continue to get a free ride with government incentives and tax credits.
But undoubtedly, this is the handwriting on the wall that was long overdue to
be read.
The times sure are a-changin'.
*Bob Dylan, The Times They Are A-Changin'

Holly Alfano
Chief Executive Officer

© 2021 Independent Lubricant Manufacturers Association.
All Rights Reserved.
ILMA is pleased to present a variety of viewpoints in Compoundings
magazine. Readers should keep in mind that bylined articles represent the views of the named author or authors and not necessarily
the opinions, viewpoints or positions of ILMA.

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ILMA Compoundings - March 2021

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