The destruction caused by Hurricane Ida when it made landfall August 29 has led to the largest ever initial loss of crude oil production in the Gulf of Mexico. Hurricane Ida has been responsible for the loss of 16.8 million barrels per day (bpd) of output in the near two weeks since the first production […]
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In some of our previous blog post’s we’ve discussed the driver shortage and how it is affecting the fuel industry. In the fuel industry alone, it is hard to find drivers with the proper requirements and hazmat endorsements. This is causing drivers who are qualified to ask for competitive wages, which is causing freight rates […]
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In the wake of Hurricane Ida, Louisiana has been left with a significant fuel shortage. The Energy Department has authorized the use of the strategic oil supply to help combat the shortage. The Energy Department is set to release 1.5 million barrels of crude to ExxonMobil Baton Rouge, giving the company the responsibility of replenishing […]
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Discuss Risk Management with your Fuel Distributor before a Big Storm Hits With over 1 million homes and businesses without power this week, we find ourselves with memories of the past, specifically a memory from back in 2017.
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Hurricane Idea made landfall yesterday in Port Fourchon, Louisiana as a Category 4 storm, with sustained winds of 150 mph. At the time of reporting more than one million homes and businesses in Louisiana have lost electricity.
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The COVID-19 pandemic has caused a lot of change over the past 18 months when it comes to how most industries are ran. Many companies have had to reevaluate the way they do business and assess what changes need to be made to still be standing in a post pandemic economy. The trucking industry is […]
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Truck freight rates are still high in the United States for flatbeds, vans and reefer freights. Shippers have been paying a premium for several reasons. According to Fleet Owner, “shippers not only experienced escalating spot and contract rates in July but they were also hammered by port congestion, unloading delays, shortages of trucks and drivers, […]
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Today marks the longest stretch of daily declines in oil prices since 2019 as concern continues to grow about global energy demand. West Texas Intermediate (WTI) dropped for the seventh day this week leading to a weekly loss of 7.3%. Oil prices took a hit this month caused by speculation that the Federal Reserve will […]
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Big changes could be coming for truckers across Pennsylvania in February of 2022. These changes would be positive and could save truckers 33% in Pennsylvania taxes. Under the current tax plan, truck drivers pay 73 cents a gallon on diesel tax which equals to around 12 cents a mile in state taxes. The new plan […]
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Today marks the sixth day in a row that the world’s third busiest container port remains partially closed. China’s Ningbo-Zhoushan container port shut down their Meishan terminal last Wednesday after one of their employees tested positive for COVID-19. Ningbo authorities stated that the port worker was believed to be fully vaccinated but received an inactivated […]
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