Fuel

Canadian heavy crude has become so cheap that the cost of shipping it to refineries exceeds the value of the oil itself, a situation that may result in even more oil-sands producers shutting operations.

The world will run out of places to store oil in as little as three months, according to an industry consultant.

The U.S. oil market is displaying worries that stockpiles are going to run out of storage space, with futures being whipsawed as a growing glut counters economic stimulus measures.

The rapid plunge in oil prices could cut into sales of both tractors and liquid tank trailers as well as the trucks that haul fossil fuel extraction equipment, experts said.

Concerned over potential fuel shortages, American Trucking Associations and several other fuel marketing associations have sent letters to the Environmental Protection Agency seeking a waiver of summer gasoline sale requirements.

A shipping company was ordered to pay a $1.65 million fine and given four years’ probation after one of its vessels was caught dumping oil bilge water into the Pacific Ocean, a short distance from the Golden Gate Bridge.

The U.S. average retail price of diesel fell 7.4 cents to $2.659 per gallon, the Department of Energy reported March 23 as oil prices went lower.

The spread of the coronavirus coupled with an oil-price war between Russia and Saudi Arabia threatens to devastate the oil services industry and its workers.

Electric-transit bus manufacturer Proterra appointed current Chairman Jack Allen to CEO as it prepares to extend its technology to other vehicle segments, including last-mile delivery.

The world is close to running out of space to store all the fuel that jets are no longer burning.