Trucking Consolidation Seen Benefiting Surviving Firms
Soaring fuel prices have driven trucking bankruptcies up 143% over the same time last year, and industry analysts said the market may need to consolidate more before it improves for those companies that survive, the Associated Press reported.
June 10, 2008U.S. Trade Deficit Jumps 7.8% on Energy Costs
The U.S. trade deficit grew 7.8% in April to the highest level in more than a year, on surging energy costs, the Commerce Department said Tuesday.
June 10, 2008Diesel Falls 1.5¢ to $4.692; Gas Tops $4 for First Time
The national average price of diesel fuel fell for a second straight week, dipping 1.5 cents to $4.692 a gallon, while gasoline rose above $4 for the first time, the Department of Energy said Monday.
June 10, 2008GPS Market to Reach $240 Billion in Five Years, Report Says
Global Positioning System location-finding and navigation services are generating increasing revenue as the satellite-based technology is embedded in a wider range of mobile devices, according to a report from the European firm ABI Research.
June 9, 2008Saudi Arabia Seeks Meeting on Oil Prices
Saudi Arabia plans to call for a summit between oil-producing and consuming nations to discuss soaring crude prices, the Associated Press reported Monday.
June 9, 2008Congress Tackles ‘Splash-and-Dash’ Loophole Giving Tax Credit for Exported Biodiesel
Two bills circulating in Congress would eliminate a loophole that permits foreign producers of biodiesel to get a tax credit if they “splash” their product with petroleum-based diesel in the United States and then sell it overseas.
June 9, 2008Conn. Truck Inspections Drop 20%
Connecticut’s truck inspections fell 20% to about 18,600 in 2007, compared with a year earlier, the Hartford Courant reported.
June 9, 2008Long Beach Port Approves Clean Trucks Plan
The Port of Long Beach, Calif., has approved the final details of its terms required for truckers to register for the port’s new clean trucks program, scheduled to begin Oct. 1.
June 9, 2008Gasoline Average Tops $4 a Gallon
The national average for gasoline has topped $4 a gallon for the first time, according to AAA.
June 9, 2008I-5 Bridge Plan Approved in Oregon
The regional government of the Portland, Ore., area is backing a new Interstate 5 bridge over the Columbia River, the Associated Press reported.
June 9, 2008