Following Congress’ rejection of calls by presidential contenders to rescind the federal tax on gasoline and diesel fuel this summer, some lawmakers are quietly considering boosting the tax by a dime to ensure the federal highway fund is adequately financed, the Associated Press reported.
July 21, 2008Search
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Senate Committee Approves Amendment Aimed at Halting Mexico Trucking Program
The Senate Appropriations Committee approved an amendment to the Department of Transportation’s fiscal 2009 budget aimed at halting the U.S.-Mexico trucking pilot program.
July 23, 2008
Matt Silver, CEO of Cargado, discusses how AI, data and smarter platforms are reshaping cross-border shipping.
Leading Economic Indicators Dip 0.1%
An index of leading economic indicators dipped 0.1% in June, the New York-based Conference Board said Monday.
July 21, 2008U.S. Firms to Raise Prices Amid High Costs, Survey Says
More U.S. companies plan to raise boost prices and limit hiring as a continuing surge in raw-material costs crimps profits, according to a new business survey, Bloomberg reported Monday.
July 21, 2008Forward Air’s 2Q Earnings Improve
Forward Air Corp. said its second-quarter profit rose to $12.1 million, or 42 cents a share, from $11.5 million, or 38 cents, a year ago.
July 21, 2008EPA Requests More Input on Greenhouse Gases
The Environmental Protection Agency issued a nearly 600-page request for public comment on whether it should use existing law to regulate greenhouse gas emissions, a decision one trucking official said was a way to further delay any new regulations until after President Bush leaves office.
July 21, 2008California Issues Natural Gas Grants
Clean Energy Fuels Corp. said two California environmental agencies awarded grants totaling more than $11 million to further the development of natural gas fueling stations and vehicles.
July 21, 2008Diesel Falls 4.6¢ to $4.718 a Gallon
Diesel fuel’s national average pump price fell by the most in six months, dropping 4.6 cents to $4.718 a gallon, the Department of Energy reported.
July 22, 2008Diesel Rises 3.7¢ to Record $4.764; Crude Drops
The U.S. retail diesel average rose 3.7 cents last week to another record, $4.764 a gallon, the Department of Energy reported, while the price of crude oil posted its largest single-day drop in 17 years on July 15.
July 21, 2008Smaller Fleets Seeking Buyers as Strategy to Avoid Bankruptcy
Behind this year’s surge in trucking company failures, brought on largely by the double-whammy of slow freight and skyrocketing fuel prices, is another ominous trend: a sharp increase in the number of motor carriers asking larger competitors to buy them out.
July 21, 2008