Today's pickup: Hurricane Florence could bring rising diesel prices to some areas

  Photo: Shutterstock

Photo: Shutterstock

Good day,

One year after the U.S. House of Representatives passed the bipartisan SELF DRIVE Act, House Energy and Commerce Committee leaders called on the Senate to advance automated vehicle legislation.

The republican leaders cited increased safety, improved accessibility and the United States’ competitive edge among the reasons they believe it is important for the Senate to get self-rising vehicle legislation passed sooner rather than later.

The Senate’s similar AV START Act gained approval from the Commerce Committee last fall, but it has not yet passed the full Senate. House leaders are hoping it sees some action before the end of the year.

Did you know?

Both FTR Research and ACT Research reported all-time record high monthly Class 8 truck order numbers in August. You can see the data in our Infograph.

Quotable:

“Logistics challenges and costs are among the largest hurdles that most relief organizations face after a disaster. While we certainly hope that none of these storms will be as destructive as predicted, we’re glad to be part of an industry that can provide so many meaningful solutions – and grateful to the many companies that are already making it possible for us to help.”

--American Logistics Aid Network Executive Director Kathy Fulton , on what the organization is seeing ahead of Hurricane Florence.

In other news:

Tesla bull capitulates, says stock is ‘no longer investable’

Nomura Instinet analyst Romit Shah downgraded Tesla this morning to neutral from buy in a note titled “No Longer Investable.” (Bloomberg)

Why robots are producing more of what you eat

Vision-automation technology is taking over the factory floor, a testing ground for adoption in self-driving cars and drones. (WSJ)

China seeks WTO backing for sanctions on U.S. over dumping duties

China will ask the WTO next week for permission to impose sanctions on the United States, for Washington’s non-compliance with a ruling in a dispute over U.S. dumping duties. (Reuters)

What happens when the next financial crisis strikes?

It came as a nasty surprise to almost everyone a decade ago when we found ourselves on the cusp of a worldwide financial collapse. (Washington Post)

Hurricane risks include toxic sludge and lagoons of pig manure

Hurricane Florence’s potential for destruction also includes increased risks for the environment and public health as torrential rains could overwhelm the pits where toxic waste is stored. (Bloomberg)

Final Thoughts

Hurricane season brings an increased risk to transportation energy in the United States, both from a supply and price perspective. FreightWaves reporter Maria Baker spoke to Brett Wetzel, senior manager of applied knowledge for Breakthrough to understand the broader impact of Hurricane Florence.

“A storm of this magnitude is likely to cause localized diesel supply and price disruptions, as extreme weather impacts the downstream distribution of refined products to fuel stations and truck stops,” Wetzel told Baker.

There are no oil refineries in the direct path of Florence, so Wetzel predicted the impact on diesel prices should be limited in magnitude and geographic reach, as long as the Colonial Pipeline does not experience any disruptions.

Hammer down everyone!