FedEx Corp. said Thursday its fiscal first-quarter profit slipped 22% from a year ago on higher fuel costs and declining demand for express shipments, and said its express unit will boost rates by a net 4.9% next year.
September 18, 2008Business, Fuel, Logistics, Government
Union Pacific Boosts 3Q Earnings Forecast
Freight railroad Union Pacific Corp. Tuesday boosted its third-quarter earnings forecast due to lower fuel prices and improved operating efficiency.
September 23, 2008Business, Fuel, Technology, Equipment, Safety
Port of Oakland Issuing Funds for Truck Emissions Systems
More than 1,500 truckers at the Port of Oakland, Calif., have applied for 1,000 subsidies to retrofit their trucks to reduce emissions, the San Francisco Business Times reported Monday.
September 22, 2008Government, Business, Safety, Fuel
Alternative Fuels Use to Rise After 2010 Change, Graves Says
If you think the Environmental Protection Agency’s 2010 engine requirements will be the ultimate technological test for fleets, American Trucking Associations President Bill Graves has a message for you: There’s more to come.
September 22, 2008Government, Business, Safety, Fuel
FedEx’s 1Q Profit Slips 22%; Express Unit to Boost Rate 4.9%
Government, Business, Fuel
Crude Settles Below $100 a Barrel
Oil prices remained under $100 a barrel Thursday after earlier rising over $102, Bloomberg reported.
September 18, 2008Business, Fuel, Safety, Government
U.S. Lawmakers Raise Concerns on UPS-DHL Air Deal
Ohio officials told federal lawmakers they have been rebuffed in their efforts to persuade DHL to consider alternatives to its proposed agreement to have UPS Inc. carry its North American air packages, the Associated Press reported.
September 17, 2008Government, Business, Fuel
House Passes Energy Bill Allowing More Offshore Drilling
The House late Tuesday approved a bill that legislation that would open more offshore areas for oil and oil and natural gas drilling, pending states’ approval, the Associated Press reported.
September 17, 2008Fuel, Business, Logistics, Government
Diesel Drops 3.6¢ to $4.023; Gasoline Jumps 18.7¢ to $3.835
Despite a major hurricane on Texas’ Gulf Coast this weekend, diesel fuel’s national average price fell for the ninth straight week, dropping 3.6 cents to $4.023 a gallon, but gasoline’s average jumped 18.7 cents, the Department of Energy said Monday.
September 16, 2008Business, Fuel, Government
Oil Continues to Fall; DOE Approves Some SPR Releases
Oil prices continued to fall Tuesday, dropping below $92 a barrel in early trading, while Department of Energy approved oil releases from the Strategic Petroleum Reserve to help refineries left with supply shortages due to Hurricane Ike, Bloomberg reported.
September 16, 2008Fuel, Business, Government
EU Sets 10% Biofuels Requirement
The European Parliament’s energy committee voted to require that at least 10% of road transport fuel in 2020 come from renewable sources led by biofuels, while adding checks to prevent food shortages, Bloomberg reported.
September 15, 2008