For the past month, the big talk has been about President Biden’s
$2 trillion infrastructure plan. Of this, $621 billion will go into transportation infrastructure such as bridges, roads, and public transit. Another $300 billion will go into building affordable housing along with building and upgrading schools. This will bring an extensive amount of work for the construction industry.
Since April 2020, the construction industry has added 931,000 jobs with 110,000 of that in March alone. There is anticipation of repairing 20,000 miles of highway as well as 10,000 bridges. This stimulus will mainly impact both the heavy and civil engineering segment which will also create a demand in the Heavy equipment industry.
To power this heavy equipment to fund this operation, there will need to be a substantial amount of fuel. Though the plan pushes for renewable energy such as solar and wind, the use of fossil fuels will still be in high demand for the infrastructure project. Since renewable energy provides only 11% of the United States’ energy, we will need the off-road fuel to power the equipment which will help make the infrastructure plan a reality.