White House suggests fuel export limits to gas companies to refill depleted inventories
Good morning! It’s National Taco Day AND Taco Tuesday.
Not sure if there was ever a better day to celebrate. 🌮
United States Energy Secretary Jennifer Granholm privately met with representatives from Exxon Mobil Corp., Marathon Petroleum Corp., Phillips 66, and Shell Plc - some of the largest gasoline companies on American soil. The intent of the meeting was clear: these companies are collecting high profits and failing to address fuel inventories.
The idea of limiting sales to international buyers has been suggested, stating that it should be redirected into inventories state-side. But gas companies are stating that rather than redirecting fuel produced into a stockpile, the country should be looking for more affordable ways to move the product to the United States.
Check out today’s featured article from AJOT to read about the most recent meeting between Senior Biden administration officials and executives of the largest U.S. gasoline producers. Will the White House limit fuel exports to international buyers in order to build domestic inventories? ☕️
Featured Article:
Biden officials float fuel export limit in meeting with refiners | AJOT
“Senior Biden administration officials pressed executives from some of the largest US gasoline producers to curtail overseas sales during a tense meeting Friday afternoon, suggesting that without voluntary action, the government could force the industry to stockpile more fuel in US tanks.”
Driver Issues & Behind The Wheel 🚛
New York battles driver shortage by allowing trucking companies to perform CDL testing
Driver shortage this, driver shortage that. Well, New York is doing something about it. New York State Governor. Kathy Hochul, announced that the state will now allow third parties and trucking issues to issue CDLs and perform the required road tests in order to speed up the process and, hopefully, invite more candidates to apply for positions.
Currently, large lots owned by the State University of New York and the New York Racing Association have also been allowed by the state government to be used as testing sites. The 14-day waiting period between the permit and the road test has also been eliminated. Earlier this year in May, the state amended the rules to that those between the ages of 18 and 20 could also apply for Class A CDLs. By widening the employment opportunity, the state hopes to fill the shortages quickly.
Trade & Border Issues 🗺
United Kingdom aims to protect underwater infrastructure with specialist ships after Nord Stream explosions
Three of the four Nord Stream pipes under the Baltic Sea mysteriously exploded last week. While Russia is blaming the West, Europe is speculating that the explosions were an act of sabotage. Great Britain’s defense minister Ben Wallace spoke at the Conservative Party conference in Birmingham, central England, and states that the act could be a direct threat to the British economy by the Russian government.
He announced that the country was taking precautions after the Nord Stream gas pipeline destruction in the form of “two specialist ships with the capability to keep our cables and pipelines safe.” These ships are described as being built for seabed warfare.
Let’s Get Global 🌎
👟 Nike is feeling the pain. The sportswear conglomerate announced new forecasts for its upcoming revenue reports after its goods continue to stockpile in warehouses across the globe. The company’s net income fell $1.5 billion by August, down 22% from the same time in 2021. Higher markdowns to get rid of the excess product alongside higher transportation costs are the source of the blame, says Nike. With consumers feeling the squeeze from the higher cost of living, it seems that they’re spending less on new shoes. (Supply Chain Brain)
🤝 The FAO has spoken. The United Nations Food and Agriculture Organization (FAO) is fighting to protect food and agriculture from invasive species after pointing off that climate change and international trade are putting the earth at serious risk. Signed by over 180 countries, the International Plan Protection Convention (IPPC), is an intergovernmental treaty to globally protect the plants of our ecosystems. (The Loadstar)
🚢 Ocean carriers are still swimming in bathtubs of money. You get the picture. Record profits have been highlighted again and again as container carriers absorbed huge profits in the wake of the pandemic. The world’s second-largest shipping carrier, Maersk, is reporting a 52% increase in revenue as compared to this time last year - a whopping $21.7 billion. That means that net profits were $8.6 billion, a new quarter record. (Logistics Management)
iLevel With You
More topics for the average American household to consider…
✈️ If you’re a United Preferred member, we hope you’re not planning on flying to JFK Airport anytime soon. United Airlines Holdings is suspending its operations and services at the well-traveled John F. Kennedy International Airport in New York after a series of back-and-forth between the airline and the regulators to control airport expansion. Effective October 29th, United Airlines will no longer service the airport, removing four daily flights. United had been fighting for expansion, considering it could not be competitive in the airport with only a small number of flights. (Supply Chain Brain)
♻️ Ohio is for lovers… and natural gas. Clean Energy Fuels Corp. is opening up a new station in Groveport, Ohio, introducing renewable natural gas (RNG) to the area. RNG is being praised by the California Air Resources Board (CARB) and the Environmental Protection Agency as a cleaner option than electric vehicles. This Groveport station will be one of Clean Energy’s 19 refueling stations planned to be constructed before the end of 2022. (Fleet Maintenance)
💩 Something is fishy… or just stinky, up in here. Hurricane Ian wreaked havoc across the Florida Gulf Coast last week, upending manholes and flooding pumps that had turned off after widespread power outages. The unfortunate result has been tons of raw sewage dumped into Florida’s waterways and jeopardizing the people, flora, and fauna in the area. Raw sewage can carry E.coli, viruses, and other types of bacteria that can result in severe skin rash or gastrointestinal issues if a human comes in contact with it. (G Captain)
GET SMART
Ramp up that brain power for these advanced topics…
💰 Believing in a profitably turnaround. That’s what 74% of supply chain leaders are banking on after a Gartner-sponsored survey shows most supply chain leaders are expecting profits to increase over the next three years by using circular economy principles. These principles are implemented with a system that separates a company’s resource consumption from is growth and business value. It’s particularly. valuable in an inflationary environment. (Supply Chain Management Review)
🎙 Surround yourself with leaders and always be willing to learn. Clarendon Capital’s Operating Partner, John Larkin, joins Jeff Berman, Group News Editor for Logistics Management and the Peerless Media Supply Chain Group for a podcast interview. Together they discuss the current state of the freight economy and what the future may look like as we enter 2023. (Logistics Management)
📟 Let’s get digital - digital! Intelligent Industry Leader for Capgemini Americas, Mark Landry, is speaking out about the importance of digital twin technology for a company getting to the next level. Digital twin technology is essential a dynamic digitized model of what already exists in the physical realm, but it can give a company a widespread look at the context of the supply chain and its hiccups. This virtual replica can compromise of warehouse, operations, and inventory positions wherever they are on the globe. (Supply Chain Digital)
Leases & Loans 💰
Supply-Chain Tech Startup Noodle.ai Gets Fresh Corporate Backing | Supply Chain Brain
Supply Chain Brain writes an article about the logistics software start-up Noodle Analytics winning financial backing from Honeywell International and ServiceNow.
Leadership 🏆
“It’s all around people, process and technology” | Supply Chain Management Review
Supply Chain Management Review contributor Bob Trebilcock writes about Frank McKay, Jabil’s chief supply chain and procurement officer, and his opinion on the supply chain industry after the past few years.
“What’s on tonight?” | Seth’s Blog
Seth writes about the reason gatekeepers have such an impact on industry decisions.
American Politics 🇺🇸
Georgia and Nevada on their minds: Senate watchers sweat two swing states | Politico
Politico contributors Burgess Everett and Natalie Allison write about the teetering Senate race in Georgia and Nevada and what it could mean for the Senate Majority.
Trade & Border Issues 🗺
The Nord Stream pipeline sabotage, explained | VOX
Vox contributor Jen Kirby writes about the recent Nord Stream pipeline explosions and the likely results.
Sales 🧾
Volvo to sell VNR Electric chargers directly to customers | Fleet Maintenance
Fleet Maintenance Staff writes about Volvo Trucks North America’s newest program, the Vendor Direct Shipping program, that will provide electric chargers directly to consumers.
Industry Forecast 📊
What can fleets expect in 2023? | Fleet Owner
Fleet Owner contributor Jane Clark writes about the forecasted supply chain disruptions that may extend into 2023.
Covid-19 😷
COVID Has Fundamentally Changed the Profession of Supply Chain Management | Logistics Viewpoints
Logistics Viewpoints contributor Steve Banker writes about how the Covid-19 pandemic has seemed to change what’s required of a professional supply chain environment forever.
American Economy 🇺🇸
Yahoo News contributors Jessica Guynn, Swapna Venugopal Ramaswamy, Elisabeth Buchwald, and Terry Collins from USA TODAY write about how American citizens are making it through one of the most challenging inflationary periods of their lifetime.
Global Economy 🌏
5 signs the world is headed for a recession | CNN Business
CNN business contributor Allison Morrow writes about the biggest reasons we can expect a global recession on the horizon - in fact, a 98% chance.
Insurance 📋
Hurricane Ian exposes an insurance crisis that's much bigger than Florida | MSNBC
MSNBC’s Opinion Columnist Jarvis DeBerry writes about the troubling implications of the insurance industry after Hurricane Ian wreaked havoc across Florida.
Driver Issues 🚛
Buttigieg: ‘We owe our truckers a safe place to rest’ | Land Line
Land Line contributor Mark Schemmer writes about U.S. Department of Transportation Secretary Pete Buttigieg’s opening words at the National Coalition of Truck Parking’s last week where he advocated for better driver parking and rest stops.
Electric Vehicles 🔋
Where Do Electric Trucks Fit In? | Trucking Info
Trucking Info contributor Vesna Brajkovic writes about the growing market for electric trucks and whether our nation has the capacity or infrastructure to handle it.
The Workday Dash is an aggregation of articles regarding the transportation logistics, trucking, and supply chain industries for November 28, 2024, from iLevel Logistics Inc.