Truck stoppoladminJanuary 30, 20204:33 pmTop 5 Most Intriguing Trucking News to Finish Off First Month of 2020

During the first month of 2020, we talked about the first challenges that are coming to the trucking industry as well as rising positivity among truckers and companies. But the industry is constantly moving, shifting and changing and important trucking news is always plenty to explore and be aware of. Therefore, let’s end the month of January strong with the top 5 most impactful and intriguing trucking news that recently seen daylight.

 

1.    Record-breaking Revenues in Truck Manufacturing

 

A global leader in the manufacture, customer support and design of high-quality premium trucks PACCAR recently recorded a class 8 truck order slowdown on the fourth-quarter of 2019. However, the story of its parent company of Kenworth and Peterbilt trucks and the total revenue for the whole of 2019 is completely different.

Among many other trucking news circling, PACCAR showcased record-breaking revenues of $25.60 billion which is up to 9% from the 2018 numbers of $23.50 billion.

The revenue for the last quarter had a slight downgrade which did not affect the overall success for the year 2019 and trucking news like these only shows how truck manufacturing is not slowing down.

 

Kentworth

 

2.  Multiple Trucking Companies Featured on Forbes List

Forbes – one of the most iconic magazines on the planet composed its annual list of most successful and admired companies on the planet. All based on a survey of more than 3,000 executives, analysts, and directors.

As Apple topped the list for the 13th straight year followed by Amazon and Microsoft in the top 3, trucking-related companies have also taken the list quite by storm!

Federal Express, a multinational delivery service based in Memphis, Tennesse takes the highest rank (15th) among trucking companies. Other more familiar companies include Paccar, Volvo, XP Logistics and more.

 

Trucking

 

3.    Trucking news report Texas-based Carrier to Shut Down

 

One of the biggest shutdowns this year so far is without a doubt the Flatbed carrier TK Transport from Clute, Texas. According to various reports and trucking news – the decision to cease operations came due to rising insurance costs, government regulations and weak spot market.

The company assured that the truck drivers will be paid and not left stranded on the road while trying to close the business the right way.

They also added that a list of companies hiring in the area will be provided for drivers and pointed out a need for the trucking industry to shift to a real-time payment system such as those like UPS, FedEx or Amazon.

 

Turcking business

 

4.    Another Californian Law Affecting the Trucking Industry

 

We already saw one Californian law all over the trucking news recently when it posed a threat to thousands of truck drivers and the trucking industry in California as a whole. As that law has been halted, a new one appears.

It took effect just now in January and it will require all trucks and buses to have engine models of at least 2010. Tens of thousands of notices are already issued for trucks with expiring registrations while thousands are known to be already noncompliant with the regulations and can’t be registered.

Approximate numbers for overall measures are said to be 420,000 heavy-duty trucks and around 80,000 of them could not meet the new requirements. All of this is due to California and Los Angeles ranking number one on the list of most-polluted cities and areas in the US.

 

Truck stop

 

5.    Freight, Businesses & Logistics Touched by Coronavirus

 

Coronavirus news and updates are everywhere, and now the impact is reaching carriers across the globe. Our more-than-ever interconnected world and logistics might crumble and spark a new crisis.

World Health Organization could declare an international health emergency in the upcoming days and various carriers are already shutting down flights across North America and Europe.

For now, the trucking industry in the US is operating as always but that could change if the trend continues in the same direction with the same or even greater acceleration.

 

USA Truck

 

 

Pods truckpoladminJanuary 24, 20202:19 pmPositivity Boost for US Trucking Industry & Truck Drivers in 4 Steps!

US trucking industry is always balancing between the good and the bad, the challenges and new achievements. And while the first indications showed us that 2020 might be a challenging year for both truck drivers and the US trucking industry, it is always important to remain positive and optimistic. And it seems that towards the end of the first month of the year this is the trend that’s happening. Let’s welcome the positivity boost for the US trucking industry and truck drivers in 4 easy steps!

 

Step 1: California’s Controversial Truck Drivers Law Halted

 

We simply have to start with California’s AB5 law and how truck drivers achieved major victory recently. The controversial law received heavy criticism due to its threats to more than 70,000 truckers by reclassifying them as employees of minimum wage rather than self-employed independent contractors.

The law received an opposition from California Trucking Association which filled out a federal lawsuit in its efforts to stop the law.

And on January 16, a federal judge halted the procedure of the law indefinitely until further notice which could extend for months or even years while the battle for AB5 will continue in court.

 

Kenworth

 

Step 2: Spring Freight Volumes Rates to Increase?

 

According to various reports, the US manufacturing sector as a whole has been struggling for some time which affects shippers and motor carriers. But recent Federal Reserve Data shows us a 0.2% increase in output by US manufacturers.

This is one of the first signs of recovery, and no one else should be happier than shippers, carriers and the US trucking industry as a whole.

More shipping means more selling for shippers which results in higher trucking rates and benefits for truck drivers. The hope for upside this year and growth in US commerce is real.

 

Trucking loads

 

Step 3: Shippers Express Positivity

 

The survey which was conducted in the last quarter of 2019 has been seen to show optimism among shippers for the future.

The most optimistic ones were LTL (less-than-truckload) respondents with an expectancy of expansion and growth due to e-commerce sales.

When it comes to trucking, it was a more modest vote and actually indicated that many are expecting volume growth to slow down. However, the intermodal competitiveness improvement is expected to increase, and more than 50% of voters expect truckload growth moving towards the future in the US trucking industry.

 

Pods truck

 

Step 4: Optimism is Now Priority in the US Trucking Industry

Despite all the challenges that await, the optimistic approach was emphasized during the Highway Transportation Session at NITL 2020 Summit.

Hundreds of executives and professionals from the US trucking industry and transportation sector came together to discuss a variety of topics and challenges like truck parking, driver retention, contract rates and much more.

The tone throughout the conference was always positive, and it always highlighted what needs to be done for improvement and how to step up the game in various areas within the industry. Let’s see what 2020 has in store for all of us!

Burned truckpoladminJanuary 20, 20202:07 pmWhy Truck Accidents in the USA are Still So Frequent: The 4 Common Causes

Truck driving remains one of the most dangerous professions in the world, especially in the US. It made the list of top ten deadliest professions alongside such occupations as deep-sea fishing or power line workers which already speaks volumes. The heavy cargo that is carried often turns the accident into a fatal truck crash for other drivers on the road, or sometimes even properties. The blinding sun might be the cause of one of the first pileups of the year, but the most common causes of truck accidents are way more complex. Let’s find out the 4 most persistent reasons why truck driving has become dangerous alongside a dash of mind-opening statistics.

 

1.    Fatigue: One of the Main Causes of Truck Accidents

 

When it comes to truck driving and fatigue, it takes the top positions in every statistical measurement of truck accidents in the US. Think of long-haul routes, minimal rest in between and overworking. Only a few of many reasons for fatigue.

Driving while being fatigued caused 13% of truck accidents in 2015 and still continues to be one of the main reasons why truck driving is a dangerous profession. Approximately 20% of truck drivers fall asleep at the wheel within the 30 day period.

Truck companies tend to put a lot of pressure on delivery, with short and firm deadlines compared to large distances that need to be covered. And this leads us straight into the second cause.

 

Semi truck on the road

 

2.    Overspeeding: Deadline Pressure

In 2017, speeding is shown to be the most frequently reported factor in driver-related fatalities. This overspeeding and overtaking issue within truck driving in the US easily points to the major pressure of deadlines.

But are those strict deadlines always possible to achieve? The risk is not just truck accidents, but potentially losing a job or paying a fine.

How about factors such as unexpected traffic jams, poor weather conditions, technical issues and more? That’s when overspeeding and overtaking comes in, and if truck accidents come at expense of speeding then it is more than likely to be fatal.

 

 

Burned truck

 

3.    Alcohol & Drug Abuse: A Big Issue

 

Alcohol and drug abuse is something that made our past list of overlooked issues in the trucking industry, and 2020 promises to be more in touch with this issue with projects like ClearingHouse.

However, today the problem still persists. And even with passenger vehicles taking the spotlight for this problem more, truck driving has been often an area where usage of alcohol and non-medicinal drugs on the job was spotted.

This problem is eclipsing almost every type of transportation sector while being responsible for approximately 10% of truck accidents in the US each year over the past 5 years.

 

Semi truck

 

4.    Lack of Training & Maintenance: Cutting Corners & Costs

 

Brake and tire problems are found amongst the top ones for large truck accidents and crashes. Yes – by law the companies are required to check the trucks so that they meet top conditions for hitting the road. But statistics indicate that is not always the case.

This is a result of cutting the cost and time that it takes to maintain the truck in the top-notch state.

Poorly trained drivers can also be the reason for major truck accidents in the US. And current driver shortages in the country might encourage some companies to hire someone as fast as possible, neglecting all the necessary training hours that are needed.

 

 

 

ReeferpoladminJanuary 8, 20206:45 pmUS Trucking Industry Outlook for 2020: First Challenges & Bumps on the Road

From hundreds of carriers shutting down and worrying geopolitical events to decreased short-term shipping rates, record-breaking driver shortages and so much more. After two brilliant years for the US trucking industry in 2016 and 2017, it is safe to say that the year 2019 wasn’t a pretty one. What about a new year, a supposedly fresh start? It is not easy to find a positive outlook, thus it looks like it is going to be a bumpy and definitely a challenging road ahead of us. Let’s stroll through a quick outlook for the start of 2020 and what US trucking news has in store for us.

National Compliance Deadline for US Trucking Industry

 

One of the biggest topics among US trucking news was without a doubt the National compliance deadline. A law that went into full effect recently and required every single truck on American roads to be equipped with an electronic logging device (ELD) is probably the finest example. It is a balance between good and bad, a benefit and a challenge.

The main purpose of the ELD is to create a safer work environment for drivers in the US trucking industry, but also to allow accurate managing, easier communication and more.

Sounds fantastic, but where’s the catch? There’s no secret that ELD adds additional costs of both time and money that can be detrimental for struggling businesses.

 

Reefer

 

Adaption Period for New Software & Laws

 

The beginning of the new year is definitely a serious adaption period for the US trucking industry. First off, the Freight Index shows us a steady decline in freight volumes and expenditures. But that is just a very tip of adaption iceberg that awaits.

Next up, the US trucking news report laws like this in California that will reclassify independent drivers and could change the whole complexity of trucking in the state.

And yes, ELD also plays a big part once again. Many say that a lot of companies could be underestimating potential costs and problems with new software. Learning how to operate smoothly alongside new software and moving freight efficiently at the same time is one of the biggest adaptions to overcome at the moment.

 

Dry van

 

Adaption Period for New Software & Laws

 

The beginning of the new year is definitely a serious adaption period for the US trucking industry. First off, the Freight Index shows us a steady decline in freight volumes and expenditures. But that is just a very tip of adaption iceberg that awaits.

Next up, the US trucking news report laws like this in California that will reclassify independent drivers and could change the whole complexity of trucking in the state.

And yes, ELD also plays a big part once again. Many say that a lot of companies could be underestimating potential costs and problems with new software. Learning how to operate smoothly alongside new software and moving freight efficiently at the same time is one of the biggest adaptions to overcome at the moment.

 

Running a Trucking Company Continues to be a Major Challenge

 

Running a trucking company is full of rewards and risks, but it is continuing to be a major challenge due to its strong dependency on many factors: economics, politics, foreign policies and the US trucking industry as a whole.

Then there are driver shortages and striking competition for them, manufacturing declines and various government regulations just like the one in California.

In addition, the unstable environment, tensions in the geopolitical arena and recession lurking around the corner raises the stakes even more. All of this presents a plethora of bumps in the road for someone who desires to become a player in the industry.

 

Dispatch

 

The Conclusion: US Trucking Industry is Concerned but Motivated

 

Who knows what the future holds for the US trucking industry. New tensions are added in the Middle East which can have an effect, but the trend of eCommerce growth continues. And while driver shorter is persistent, the economy might see growth in GDP. It’s an uncertain mix, but one thing we do know for sure – it is going to be a challenging year.

 

Paul Mark Group

Hauling heavy loudpoladminJanuary 6, 20203:34 pmELD is in Full Effect in the US Trucking Industry – What Is It Exactly?

Back in 2012, the US Congress authorized the “Moving Ahead for Progress in the 21st Century” bill which is also known as MAP-21. Alongside the plans for highway funding included in the law, it also required to develop a rule mandating the usage of electronic logging devices (ELD). The ELD rule officially became a law on Feb. 16, 2016. For vehicles equipped with an AORBD, these had to be upgraded or replaced to meet full ELD status by Dec. 16, 2019. It has seen quite a lot of controversy over the years, but now that ELD is in full effect in the US trucking industry, let’s get to know and understand it better!

 

What is ELD Exactly?

 

ELD devices are designed to record the data that showcases a number of hours driver works and rests each day to make sure they are compliant with government regulations. The driver information that mainly concerns hours of service that commercial truckers are restricted to is placed on a permanent record of driving hours, on-duty hours and rest time, over the course of a trip.

Originally, it was the paper logbooks that were used which then got replaced by an Automatic On-Board Recording Device (AOBRD).

Today, the ELD is a replacement for both, that is now passed its deadline and is fully implemented throughout the US trucking industry.

 

Pilot Local truck

 

How Does It Work?

 

So, how does the ELD work? First, the application software is installed either on a portable device like a phone and tablet or on a hard-wired in-cab dash-mounted device.

Then, the ELD synchronizes with the engine of the vehicle which allows for an automatic recording of duty status once the ignition is turned on. The device starts recording the driving time when the truck speed goes over 5mph.

Once the vehicle stops, the status can be changed to non-driving or on-duty depending on the driver’s actions taken next, whether he is fueling, loading, unloading or taking a break and sleeping.

 

Hauling heavy loud

 

Why the US Trucking Industry Introduced ELD?

 

The introduction of ELDs into the US Trucking Industry was led by multiple reasons that raised concerns and needed solutions. When the driver becomes tired and sleepy, it causes major accidents and draws great attention from media and lawmakers.

Wanting to ensure the drivers don’t exceed restricted driving hours and questioning the accuracy of paper logs were one of the main reasons that led to introducing ELD.

In general, the safer work environment for drivers, faster and more accurate tracking, managing and shared data is the aim of ELD to excel at.

 

Dump truck

 

Common ELD Issues & Benefits

 

Rarely comes an innovation without some kind of issues and challenges. And ELD has already experienced it multiple times. From online anti-ELD petitions to being upheld in court for driver privacy concerns to software malfunction – that’s just a small part of a bigger issue picture that still goes on.

However, while the ELD still needs great improvements and solutions, the benefits of it can’t be overlooked either. Whether its more miles on the road that leads to more money, better communication with a home office or simply reduced headache from paperwork and beyond.

The US trucking industry, truck drivers and ELD still have a long way to go to form a trustworthy bond, and it all starts now!

 

Highway trucking

Trucking, corn fieldpoladminDecember 18, 20192:26 pmLatest Technology Innovations in the US That Are Improving the Trucking Industry

Trucking Industry and technology innovations in the US go hand in hand and are closely dependant on each other. With a fresh year coming very soon, the latest technology innovations in Us has been made over the recent weeks and months. They are boasting high-tech characteristics and aim to improve both safety and overall functionality for moving freight. Let’s check out the latest measures taken to do that while using the latest high-quality tech.

Intelligent ABS for Trailers

 

Following the announcement at the North American Commercial Vehicle Show in Atlanta on October, Atlanta, Ga. – Wabco presented a new and intelligent anti-lock braking system, also known as iABS which is designed specifically for commercial trailers not only in the US but whole North America.

It is aimed to improve and enhance trailer control, emergency braking and overall trailer system functionality while supporting the strategy to make this a standard.

With such improvement to the commercial trailers and trucking industry, there’s no doubt that the new anti-lock braking system is among the best technology innovations in the US this year.

 

 Traffic, Trailers

 

High-Tech to Improve Traffic Flow

 

Traffic is one of those issues that just won’t go away. But it can be improved at specific locations with certain strategies, that’s for sure! This is where the technology innovations in the US and Windsor, Ontario in Canada come into battle the Trucker’s Tuesday.

A volume of truck traffic is so heavy that it got its own name and with over 10,000 trucks passing the US-Canada corridor it desperately needed solutions.

High-tech algorithms and real-time information are now produced for traffic planners by Miovision SmartView 360 degrees fisheye cameras.

This will not only improve traffic and get the trucking industry going more smoothly but boost patience for waiting for the completion of the stunning project of Gordie Howie Bridge.

 

Trucking, corn field

 

Debuting New Trailer Tracking System

 

Same vehicle show in Atlanta, but the different announcement and a new player within technology innovations in US – new trailer telematics system FleetPulse.

To provide data that is accurate, the sensors are hardwired into the trailer and the dashboard provides all the critical information: from flagging problems and automated issue alerts to streamlining daily inspections and service bookings and beyond.

The fact that the system can and will still be improved bears only good news for the trucking industry in the future.

 

Truck stop

 

Technology Innovations in the US on the Rise Aimed for Safety

 

With an incident waiting to happen every 15 minutes according to the statistics, the need for technology innovations in the US that are designed for safety is more significant than ever.

The trucking industry needs to get safer and more durable, and a great variety of new technology has been added recently.

From new dry vans that will resist scaling and corrosion while having anti-snag roof bows to rear cameras, stop indicator lamps and more. The trucking industry and technology innovations in the US are definitely moving forward in hopes to make a safer environment for both drivers and pedestrians.

 

High way, trucking

Tolls,truckspoladminDecember 10, 20194:20 pmChristmas & Thanksgiving Spirit in The USA Trucking Industry

Thanksgiving is past us, and Christmas is around the corner. What does it have to do with USA trucking? Quite a lot! When these holidays reach the trucking world, kind and beautiful things tend to happen that might be difficult to notice. We all know that the trucking world is big and dynamic, but sometimes, it is small things that really matter. Check out how Thanksgiving and Christmas spirit rolled through the trucking world recently with plenty of good deeds happening in the USA trucking industry.

 

Rival Carriers Aid the Stranded Celadon Drivers

 

Many of us can already sense the beautiful Christmas vibes approaching. But for some, especially employees of Celadon it has been rough times recently.

Indiana-based mega carrier known as Celadon Group is set to file the biggest truckload carrier bankruptcy in the history of USA trucking while leaving thousands jobless and stranded on the road.

But the response from the trucking world was more than fantastic. Not only other companies are offering jobs and free rides to get drivers home, but regular people have also joined in to offer a hot meal, a shower and more. Must be that Christmas spirit!

 

Trucking recession

 

Thanksgiving Tradition in The USA Trucking

 

Working in USA trucking has it owns perks that aren’t included in job contracts and employment arrangements. And Thanksgiving is definitely one of them!

Many drivers couldn’t be home for Thanksgiving due to being on the road, but multiple truck stops have stepped in to brighten the holidays up for truckers as much as possible.

Both the Greater Chicago I-55 Truck Plaza and the Boise Stage Stop in Idaho are great examples that continue to offer professional drivers with valid CDL a free dinner that is rich and fulfilling.

This is a tradition that has run for years in the trucking world, and hopefully never stops. Keep those turkeys coming!

 

Thanks giving and trucking

 

The Elusive Capitol Christmas Tree Arrives

 

It is very well known that almost everything you have in your home was moved by truck and the driver behind the wheel. But how about something as iconic as the capital Christmas tree?

Here is where the trucking world comes to aid once again, as recently the 60-foot tall tree has completed a 2000 mile trip to reach Washington DC from Carson National Forest in New Mexico.

What did it take to complete such a trip? Team of law enforcement, three truck drivers and the Kenworth W990 which only shows that USA trucking is capable of anything – especially delivering Christmas spirit for people!

 

Trucks

 

Trucksgiving Was in Full force This Year

 

Wait a minute. Trucksgiving? We told you that the trucking world has its own perks and secrets, and it can turn something as profound as thanksgiving into its own thing – trucks giving!

It is small acts of kindness by ordinary people that can certainly light up truckers day, a week or even the whole year.

It is a beautiful tradition in Maine that hands out care packages to truck drivers who are on the road during the holidays. And in the past, even the high schoolers joined in to put smiles on people’s faces. The same people that work the hardest and make sure everyone gets to have everything on their table.

 

Tolls,trucks

 

 

 

 

trucking newspoladminDecember 6, 20198:40 pmOverlooked Issues Within the US Trucking Industry That Needs Solutions

In the past, we talked about the biggest challenges in the US trucking industry as well as how the recession is impacting the trucking world. But once you dive into the vast ocean of trucking news, it is quite easy to see that there’s a lot more issues and challenges than it meets the eye. Some of them are known very well, some could be persisting for decades while others can be overlooked. Let’s take a quick look at which problems are still persisting in the US trucking industry that requires attention and strong solutions.

 

Harsh Detention Frequency & Length

 

When approximately 60% of the drivers say they are delayed at least three times a week at minimum, it is a sign that indicates a deep-rooted, yet overlooked issue within the US trucking industry that needs to be solved.

Even though more than half of the truckers who experience detentions receive payments for it, still a large part doesn’t or is afraid to ask for one.

Other reports and trucking news also say that the detention frequency and length have increased over the years which impacts driver productivity, compensation and regulatory compliance negatively.

 

Trucking industry

 

Persisting Truck Parking Issues

 

Of all the problems and difficulties that truck drivers are facing today, for some, it might be a surprise but parking shortage is something more than serious. And it delivers a plethora of issues not only for the US trucking industry but everyone else too.

Various trucking news addressed the issue multiple times, and it seems like a variety of factors such as inadequate state funding, greater shipping demand and hours-of-service driving restriction limiting drive-time windows are making it harder to overcome the problem.

Currently, there are less than 400,00 parking spots for approximately 1.5 million truck drivers on the road at any given time. It results in drivers spending hours searching for an empty parking space that leads to productivity decrease and around $4,600 in lost wages per year.

 

trucking news

 

Drug Abuse Problem In The US Trucking Industry

 

While drug abuse problems in the US trucking industry is receiving more and more attention, it could potentially hit driver availability strongly. An area already having a hard time keeping up with the demand.

Trucking Alliance Managing Director Lane Kidd said “We have a huge drug abuse problem in the trucking industry, and should actually purge an estimated 300,000 commercial drivers to clean it up. No wonder truck accidents are on the rise” which speaks volumes in the trucking news about the current issue.

And the tricks to overcome the system are plentiful for drug-related drivers today. However, the new Clearinghouse program that is set to go live in 2020 plans to tackle the issue by housing all the positive drug and alcohol tests meanwhile carriers and state licensing agencies will be required to query the site before hiring a driver or issuing a driver’s license.

 

CDL Class A

Fuel cardpoladminNovember 26, 20192:47 pmThe Good the Bad and the Ugly: Recent Laws & Regulations Affecting Trucking Industry

The trucking industry is hugged by many outside factors. Be it weather, world economics or politics, the trucking world is always affected by something every single day. Recently, a surge of different laws & regulations made their way into the trucking industry. Some are bringing positive changes while others are met by protests and lawsuits. Let’s discover recent laws and regulations that are currently affecting the trucking industry at different locations.

 

AD Campaigns Proposed To Lure New Workers

 

As a shortage of drivers in the US continues to be a challenge, laws and regulations makers have decided to take upon themselves to try to increase the workforce in the transportation area overall.

The new proposed bill offers to launch an attempt to attract and hire new workers and improve diversity in the transportation workforce through a series of broadcast, digital and print media announcement campaigns.

Lawmakers also mentioned that both the trucking industry and the transportation sector needs to have more workers to stay competitive. Therefore this new extensive campaign could be the good news for the struggling trucking industry that is in need of new drivers badly.

 

Trucking industry

 

California’s Labor Law That Threatens Owners-Operators

 

While the previous regulations might impact the industry in a more positive way, this one received a lot of controversy in the trucking industry.

It was already opposed by the California Trucking Association by filling out the federal lawsuit in efforts to stop the impending law which could threaten the thousands of truck drivers and their livelihoods.

It is believed that if the AB 5 law goes into full effect it will touch approximately 70,000 truckers and their ability to earn a living as companies that employ independent contractors will have to reclassify them as employees which will deliver an entitlement of a minimum wage and workers compensation.

 

Fuel card

 

New Truck Restriction Program For Winter

 

Winter is upon us, and some states and cities already have seen some harsh winter weather. But with it comes some new interesting proposals and tests on the road.

According to WNEP, the brand new PennDOT program will act only when the weather gets bad enough that the speed limit will be required to be lowered to 45 m.p.h and will restrict semi-trucks to the right lane.

Authorities are hoping that this new restriction will help to prevent traffic backups that occur during more extreme winter events as well as keep commerce going and provide more safety to the public.

 

Trucks

 

An Expensive New Toll Plan

 

Another controversial topic in the trucking industry comes back from 2018 when the plan was initially withdrawn due to harsh criticism.

But the plan is back and is set to generate $21 billion for infrastructure improvements while using federal funding, borrowing, and tolling both passenger vehicles and commercial ones.

Connecticut Governor Ned Lamont presented a new transportation funding plan called CT2030 recently and according to him, around 40% of the fees would be paid by out-of-state drivers and the heavy trucks would pay the biggest rates as they tend to wear and tear the roads the most.

 

Local truck

 

OilpoladminNovember 20, 20192:51 pmWinter is Coming & Oil News Says The Future is For The Consumer

Winter is lurking around the corner, and some of Autumn‘s last oil news and reports are coming in with strong predictions and forecasts. The oil and fuel market is dynamic, huge and dependent on many factors, which include geopolitics and more. But in the end, the consumer is the one who pays for it and feels the biggest effect. Various reports and forecasts have been released which analyze the world oil market, demand and supply analysis, refinery operations and more to find out the trend for oil moving forward. Let‘s stroll through a quick overview of what is happening for the future, and why the consumer is set to win, at least for now.

 

Oil News & Forecasts Leans In Favor of Consumers

 

Extensive reports and oil news by OPEC and other sources that eclipse the whole world, not only the United States reports a forecast that leans in favor of consumers and those in need to buy fuel which includes truck drivers, the trucking industry and companies.

This has a lot to do with refining capacity that is going to see an expansion so large that not every construction might be even finished while older plants might need to close their doors for good.

A rising surplus of distillation capacity will be at the global levels, and the majority of those closures are expected to take place in the U.S. and Canada.

Brent spot prices in 2020 will also be lower compared to this year due to the rise and arrival of new oil inventory.

 

Oil

 

Lots of New Oil Is Coming

 

Forecasts and oil news also tells us that there‘s lots of new oil to be delivered to the market, especially from non-OPEC countries with estimates of 9.9 million barrels per day rise between 2018 and 2024 which accounts for approximately 10% of the global oil market.

The countries named and projected to deliver new supplies are Norway, Canada, Brazil and brand new oil fields from Guyana in South America.

And while the growth forecast for US shale oil output has been lowered, it is still predicted to grow.

 

Pilot/Flying J

 

The Rising Demand

 

While those 9.9 million barrels per day from non-OPEC countries will pressure OPEC to give up the idea of increasing its own output, and probably even make reductions, meanwhile the overall demand will rise significantly.

The demand is going to increase 6.1 million barrels per day by the year 2024 mostly due to the fact that the mentioned countries will deliver so much of new oil to the market.

And it already can be seen as the growth in demand is more than doubled in the third quarter.

 

Love's Diesiel

 

Not So High on Diesel Alternatives Though

 

While these oil news might indicate a competitive and rich oil market in the future, the prospect for diesel engine alternatives is not high at all.

Even though steps are being taken into that direction, commercial trucks are still far behind passenger vehicles in terms of shifting to alternative power sources for trucks such as hydrogen or battery.

Diesel and oil as a whole are trending to still be the biggest pushing power until 2040 that moves the freight around both in the US and the world.

 

 

 

 

 

 

 

 

 

 

 

Paul Mark