Following a series of positive results from multiple vaccines, the conversation on Capitol Hill has shifted to the distribution and logistics of the COVID-19 vaccines. On December 10th, a group of freight industry executives, including Richard Smith, Regional President of the Americas and Executive Vice President at Fedex Express, and Wesley Wheeler, President of Global Health Care at UPS, will testify as witnesses before the Senate Transportation and Safety Subcommittee. The purpose of this hearing is to determine the logistics and transportation partnership needed between the government and the private sector to safely deliver millions of vaccine doses around the country.
Improving highway safety has been a priority for the trucking industry for the past decade, with changes to Hours of Service (HOS) and the switch to electronic logging devices (ELDs), and the Texas Department of Public Safety is adding to these safety measures by opening a new technologically advanced truck inspection facility in Seguin, TX. Seguin is located right along the heavily trafficked I-10 corridor, making it the perfect spot to see if these facility upgrades improve both safety and efficiency. If these investments prove to be successful, this could be a new blueprint for how truck inspection facilities are designed in the future.
Volatility in investing in oil and gas is nothing new, but the COVID-19 pandemic-driven demand destruction is forcing oil and gas companies to reassess the value of their biggest assets, proven reserves. Oil and gas companies have historically held faith in their reserves even during energy downturns, but this time feels different, and oil executives are starting to prepare themselves for large amounts of their oil and gas reserves to become totally worthless.