Government

The European Parliament’s energy committee voted to require that at least 10% of road transport fuel in 2020 come from renewable sources led by biofuels, while adding checks to prevent food shortages, Bloomberg reported.

Manufacturing growth in New York state declined this month, showing contraction, the Federal Reserve Bank of New York said Monday.

A coalition of highway users including American Trucking Associations applauded the U.S. Department of Transportation’s decision last week to reject tolls on Interstate 80 in Pennsylvania, though a truckers group in that state warned that officials may seek to privatize the Pennsylvania Turnpike.

A federal judge last week denied American Trucking Associations’ request for a preliminary injunction against controversial portions of emission-reduction programs at the California ports of Los Angeles and Long Beach.

Congress, after an abrupt about-face by the Bush administration, moved quickly last week to transfer more than $8 billion into the Highway Trust Fund to keep the road-building finance program solvent.

Astronomic fuel prices are only part of the economic drag on trucking these days. Add the growing length of time on accounts receivables, more customer bankruptcies and the tightening of credit by suppliers and lenders, and it’s easy to see how carriers’ cash flow has ebbed.

Fuel prices last week continued their slide from July’s record highs, as the U.S. retail average for diesel fuel dropped for an eighth straight week and gasoline for the ninth.

A day after the Senate passed a bill to fund an $8 billion shortfall in the federal Highway Trust Fund, the House followed suit, voting 376-29 to approve a similar measure.

Retail sales fell 0.5% in August, the Commerce Department said Friday.