Rising Fuel Costs Slow Spot Rate Descent
The rise in fuel prices is slowing a decline in spot rates while also potentially suppressing base revenue for some carriers, experts said.
March 31, 2022Congressional Negotiations Ramp Up on Supply Chain, Semiconductor Package
WASHINGTON — Recent passage in the U.S. Senate of comprehensive legislation aimed at boosting domestic manufacturing of semiconductors is helping to set in motion formal negotiations with House lawmakers.
March 31, 2022Georgia Passes Bill Allowing Fair Apportionment of Fault Damages
Legislation that unanimously passed the Georgia Senate on March 30 will allow a defendant in civil litigation to apportion monetary damages to another party that shared fault in the case, but who was not named in the lawsuit.
March 31, 2022DeJoy Says He’s Been Cleared in Federal Probe
WASHINGTON — Postmaster General Louis DeJoy said March 31 that the Justice Department has closed without criminal charges an investigation into political fundraising activity at his former business.
March 31, 2022House GOP Presses Oversight on Infrastructure Affairs
WASHINGTON — With a new $1 trillion infrastructure law potentially facilitating the distribution of billions of dollars in extra funding for infrastructure projects over the coming years, Republican leaders on the transportation panel in the U.S. House intend to push the Biden administration for input on the law’s implementation.
March 31, 2022White House Urges Ports to Work With Local Leaders to Secure Funding
WASHINGTON — Top White House executives urged port leaders to collaborate with their elected leaders and focus on projects that align with Biden administration goals as they strive to access a share of $1.2 trillion in federal infrastructure funds.
March 31, 2022Biden Invokes Defense Production Act to Boost EV Battery Production
The Biden administration announced it will invoke Cold War powers to boost domestic production of materials for batteries needed to power electric vehicles and the transition to renewable energy, a move intended to improve U.S. competitiveness in a market dominated by China.
March 31, 2022OPEC Sticks to Modest Boost in Oil Despite War Jitters
LONDON — OPEC and allied oil producers including Russia decided March 31 to stick to a modest increase in the amount of crude they pump to the world, a step that supports higher prices even as the Biden administration plans to try to lower them by releasing oil from strategic reserves.
March 31, 2022Key Inflation Gauge Sets 40-Year High as Fuel, Food Soar
WASHINGTON — An inflation gauge that is closely monitored by the Federal Reserve jumped 6.4% in February compared with a year ago, with sharply higher prices for food, gasoline and other necessities squeezing Americans’ finances.
March 31, 2022Biden Plans to Tap Oil Reserve to Control Gas Prices
WASHINGTON — President Joe Biden is preparing to order the release of up to 1 million barrels of oil per day from the nation’s strategic petroleum reserve, according to two people familiar with the decision, in a bid to control energy prices that have spiked as the U.S. and allies have imposed steep sanctions on Russia over its invasion of Ukraine.
March 31, 2022