A cargo ship moves under the Bayonne Bridge as it heads into port in Bayonne, N.J. (Spencer Platt/Getty Images via Bloomberg News) The U.S. trade deficit widened in July by less than forecast, reflecting an increase in exports of cars and services. The shortfall in goods and services trade grew to $65 billion from a ...more
Containers sitting stacked at the Yangshan Deepwater Port, operated by Shanghai International Port Group Co. in Shanghai. (Bloomberg News) The dawn of artificial intelligence tools like ChatGPT may revolutionize the way both the public and private sector use data to ferret out risks and opportunities in the $32 trillion global trading system. During the pandemic, ...more
The Wild Horse Port of Entry. (U.S. Customs and Border Protection) Montana’s Wild Horse border crossing into Canada must remain open 24 hours to handle higher commercial truck and personal traffic, declared a letter to President Joe Biden and Prime Minister Justin Trudeau from Gov. Greg Gianforte and Alberta Premier Danielle Smith. Currently truck drivers ...more
State, local and college representatives broke ground for the new commercial truck driving and diesel technology facility at Wiregrass Georgia Technical College in July 2022. (Wiregrass Georgia Technical College) To support the Biden administration’s Trucking Action Plan, the U.S. Department of Commerce has awarded $742,180 to help a Georgia technical college pay for a concrete ...more
Crude oil storage tanks at the Juaymah Tank Farm in Saudi Aramco's Ras Tanura oil refinery and oil terminal in Ras Tanura, Saudi Arabia. (Simon Dawson/Bloomberg) DUBAI, United Arab Emirates — Saudi Arabia and Russia agreed Sept. 5 to extend their voluntary oil production cuts through the end of this year, trimming 1.3 million barrels ...more
United Auto Workers members walk in the Labor Day parade in Detroit on Sept. 4. (Paul Sancya/AP) DETROIT — A 46% pay raise. A 32-hour week with 40 hours of pay. A restoration of traditional pensions. The demands that a more combative United Auto Workers union has pressed on General Motors, Stellantis and Ford — ...more
(Conceptual rendering by Chevron USA Inc.) Chevron Corp. bought a plot of land the size of almost 60 football fields just outside of Houston in preparation for what could become a new research-and-development campus. The 77-acre plot is part of the Bridgeland residential and commercial development being built by Howard Hughes Holdings Inc. in Cypress, ...more
A diesel storage tank is refilled at a Chevron station in San Francisco. (David Paul Morris/Bloomberg News) Diesel prices climbed for the seventh week in a row, although the increase was a modest 1.7 cents a gallon nationally, according to information from the Energy Information Administration released Sept. 5. For the week ending Sept. 4, ...more
Trucks line up at a Port of Los Angeles gate. (Port of Los Angeles) Federal trucking regulators have announced plans to conduct a study aimed at providing a better understanding of the impact of driver detention time on driver safety and commercial motor vehicle operations. “With an eye on a future updated driver detention study, ...more
A Rivian R1T electric vehicle pickup truck at the company's manufacturing facility in Normal, Ill. (Jamie Kelter Davis/Bloomberg News) Rivian announced Sept. 1 that it has poached a former Porsche executive to add to its team at a critical juncture for the electric vehicle startup. The California-based automaker hired Kjell Gruner as its chief commercial ...more
