As Texas begins to thaw from the winter storm that ravaged the state, the rest of the nation is finding out that Texas operates off its own electrical grid. The U.S. has three power grids: one manages the eastern side of the country, one manages the western side, and Texas.
As we try to put 2020 in our distant memories, the global pandemic is still rampant. Energy plummeted 37% and was the worst-performing sector of the S&P 500 as the year ended. Exxon reported an annual loss of $22 billion while its market value fell by $120 billion. Chevron’s market value fell by $68 billion.
As people around the world line up for their Covid-19 vaccines, the global travel industry is anxiously looking for the light at the end of the tunnel. The debate will still ensue as government officials weigh the options of requiring proof of vaccination as borders begin to open to international travelers. In April 2020, air travel was down by 96% but has slightly rebounded to be down by 58% in our current environment.
As many Americans turned to cyber deals instead of in-store Black Friday specials, California-based Flock Freight is looking to revolutionize how those packages make their way into homes. The trucking industry has revenues of over $700 billion annually and is expected to grow by 75% into 2026. The trend to revolutionize trucking was being pushed by digitally matching truckers with shippers. Taking another approach, Flock looks to use its algorithms and software to pool shipments into a single truckload to increase efficiency. While Flock is not making the last mile deliveries, they are a vital part of the supply chain of companies looking for materials and products.