Boeing, Imperium call for 15-year military aviation fuels contracts

In Washington, members of the aviation industry testified at a Senate Aviation operations, safety and security subcommittee hearing.   Among those testifying, John Plaza, Imperium CEO, asked that the Pentagon be allowed to sign long-term contracts for as long as fifteen years as opposed to the current five-year limit.

Billy Glover, Boeing managing director for environmental strategy echoed Plaza’s request, stating, “We need legislation to allow the Defense Department to enter long-term contracts for fuels to attract investment… Financiers are looking for a commitment of at least 10 years by a party with a AAA credit rating as a prerequisite for underwriting.”