U.S. and European regulators are considering stricter rules on speculation in oil markets due to concerns that sharp rises in fuel prices could worsen the global recession, the Wall Street Journal reported Wednesday.
July 8, 2009Search
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Traffic Delays Fell in 2007
U.S. drivers spent less time in traffic delays in 2007 for the first time in at least 25 years, a new study showed.
July 8, 2009Virginia to Close 18 Rest Areas This Month
The Virginia Department of Transportation will close 18 of the state’s highway rest areas later this month, but the truck parking spaces lost will be replaced at other rest areas, the Associated Press reported.
July 7, 2009DOE Boosts ’09-’10 Fuel Price Outlook
The Energy Department Tuesday boosted its price forecasts for diesel, gasoline and crude oil for this year and 2010.
July 7, 2009ISM Services Index Improves
The U.S. economy’s service sector improved last month, showing the smallest level of contraction in nine months, the Institute for Supply Management said Monday.
July 6, 2009Safeway Fleet Set to Fill Tires With Nitrogen
Grocery retailer Safeway Inc. said it will begin inflating its truck and trailer fleet tires with nitrogen instead of compressed air.
July 6, 2009Diesel Falls 1.4¢ to $2.594
Diesel fuel’s national average price fell 1.4 cents to $2.594 a gallon, its second straight decline following almost two months of increases, the Energy Department said.
July 7, 2009DeFazio Seeks to Tax Oil Futures Contracts
A leading Democrat on the House Transportation and Infrastructure Committee proposed taxing speculative oil trades to kill two birds with one stone: Boost highway funding and reduce the effect of speculation on fuel prices.
July 6, 2009Trailer Orders for April, May Outpace Previous Two Qtrs.
U.S. orders for new trailers put in their best two-month performance in a year through May, leading original equipment manufacturers to express cautious optimism for their industry. However, major OEMs would not declare the recession at an end.
July 6, 2009House OKs Bill With Cap-and-Trade Measure
In a vote divided largely along party lines, the House last week narrowly passed an energy bill that calls for the United States to reduce its greenhouse-gas emissions by 17% from 2005 levels by 2020 and includes a controversial cap-and-trade provision. The vote sends the measure to the Senate, where it likely faces a tough and long battle.
July 6, 2009