The end of the first quarter of the new year is quickly approaching, and commercial trucking companies across the country know what that means… it is time to reconcile IFTA! The International Fuel Tax Agreement (IFTA) is a cooperative agreement between forty-eight states in the United States and ten provinces of Canada. It allows interjurisdictional […]
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The latest data from the Energy Information Administration (EIA) from January 14th showed a small crude inventory build of 500,000 barrels. This has been coupled with a large increase of gasoline which added 5.9 million barrels. Even with this inventory build, United States commercial petroleum stocks have declined most of the past eighteen months. The […]
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Our Customers Asked, and We Listened We are proud to announce that Guttman Energy’s Fleet Fuel Card Business now offers the option to automatically pay invoices with business debit/credit cards on file for our fleet card customers. And yes, we are accepting ANY major credit or debit card. This opportunity was created at the request […]
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On November 15th, President Biden signed his $1 trillion infrastructure plan into law. The funding will span over a five-year period with more than half ($550 billion) being allocated to transportation, broadband and utility projects. The infrastructure legislation will also put $110 billion into improving roads and bridges, $66 billion in freight and passenger rail […]
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As the holiday season approaches, retailers are scrambling to ensure their shelves are fully stocked and trying to overcome the numerous disruptions in the supply chain that they have faced since the beginning of the pandemic. Currently, more than sixty container ships carrying consumer product goods worth billions of dollars are stuck outside the Port […]
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The destruction caused by Hurricane Ida when it made landfall August 29 has led to the largest ever initial loss of crude oil production in the Gulf of Mexico. Hurricane Ida has been responsible for the loss of 16.8 million barrels per day (bpd) of output in the near two weeks since the first production […]
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Hurricane Idea made landfall yesterday in Port Fourchon, Louisiana as a Category 4 storm, with sustained winds of 150 mph. At the time of reporting more than one million homes and businesses in Louisiana have lost electricity.
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Energy firms in the United States added oil and natural gas rigs for the second consecutive week. Oil prices have recently risen to their highest point since the third quarter of 2018 which urged oil drillers to return to the well pads.
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Lordstown Motors Corporation warned Tuesday that is it close to running out of cash and may be forced to shut down operations before the end of the year. The announcement sent the electric truck maker’s shares down 20% in midday trading on Wednesday. The Lordstown facility was once home to a General Motors plant, which […]
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The Colonial Pipeline has been shut down since Friday, May 7th after a cybersecurity attack. It is the largest fuel pipeline in the United States that runs from Texas to New Jersey and transports roughly forty-five percent of the East Coast’s fuel supply. Colonial transports 2.5 million barrels per day of gasoline, diesel, jet fuel […]
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