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The road haulage industry is making good progress in reducing the carbon impact of its operations. Many firms are now benefiting from environmental and cost opportunities from monitoring their fuel usage and collaborating in order to avoid wasted emissions.
According to the Freight Transport Association1, road haulage now accounts for around a third of the UK domestic greenhouse gas emissions associated with road transport. Research from Daf Trucks shows that CO2 emissions for a 200-mile journey fell by 21 per cent from 1977-2007, with journey times falling 33 per cent.
Recent introduction of freight networks has seen fuel efficiency within the industry improve hugely, allowing firms to fill empty vehicles with new loads on their return journeys. According to the European Environment Agency, around 25 per cent of trucks, HGVs and couriers were travelling on UK roads completely empty, with another 50 per cent only half full.
Returnloads.net now allows haulage and courier firms to advertising their available loads or drivers online. After completing a delivery, rather than returning to base empty, a vehicle can identity an available local load with the same destination, and take it with them. By saving one complete vehicle journey, this reduces fuel consumption, administration costs and associated carbon emissions:
If the road haulage industry is serious about slashing the number of vehicles driving around the UK empty, it is crucial that there is a central online marketplace in which hauliers can seamlessly exchange information. After all, the carbon emissions, not to mention the cost savings to be made, are phenomenal, said Returnloads.net s Managing Director, Richard Newbold.
Some members transact thousands of loads a year on the site. It is not unusual for them to save upwards of 30,000 in administrative costs alone, especially for those with fleets of 11 plus vehicles.
Whereas in the past, firms would have to employ a several members of staff to match up available loads with drivers utilising a small number of telephone contacts, they can now access a network of suppliers at the touch of a button, sorting by vehicle and load location and destination. Drivers can even locate loads on-the-move via their mobile phone, using the innovative Returnload.net app.
Driver training is having a large bearing on the reduction of individual journey emissions. By making drivers understand exactly how their vehicles work, drivers are better able to manage their vehicles and fuel consumption. Research shows that by changing driving style, miles per gallon (MPG) can improve by 8-10 per cent, with an additional 3-5 per cent for cruising speeds and up to 5 per cent for idling time.
Adoption of Safe and Efficient Driving (SAFED) practises has been widely successful, creating a culture of environmental ownership amongst drivers. This provides operators with savings in fuel costs, lower CO2 emissions, lower maintenance costs and a reduction in vehicle downtime.
Haulage firms are also now better aware of how their fuel is being used throughout their fleet, with systems used to manage fuel deliveries and deliver key performance indicators on individual vehicles. Fuel card management improves visibility of fuel purchases and a dedicated member of staff can take responsibility for dictating strategy and process improvement.
Truck management has also allowed operators to match vehicles to the jobs being carried out. Analysis of vehicle specification, including engine power, torque rating, gearbox, fuel type and fuel efficiency, aerodynamics and weight will allow operators to choose the most appropriate vehicles for particular jobs, depending on cargo demands and journey distances. For example, research shows that by implementing correct aerodynamics kits, MPG can improve by up to 10 per cent.
Improvements in scheduling and routing now also means that firms will use telematics and GPS technology to analyse their fleet schedules and create an optimum routing strategy, which minimises fuel demands and maximise fleet capacity.
While carbon neutrality is a still a long way away, on-going development in hybrid and biofuel technology will allow haulage firms to make further improvements in their fleet s fuel efficiency, leading to longer-term gains.
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- Natural gas occupies a tiny niche in transportation energy, dwarfed by oil. Conditions are now right for that disparity to begin to change.
- Heavy-duty trucking looks like the logical beachhead for gas, with higher usage intensity and more manageable infrastructure needs than light-duty vehicles.
The International Energy Agency (IEA) released its latest Medium-Term Gas Market Report1 in St. Petersburg, Russia last month. Although the IEA sees the growth of gas in the power sector slowing, they also cite its emergence as “a significant transportation fuel.” What really caught my eye was their projection that gas over the next five years would have “a bigger impact on oil demand than biofuels and electric cars combined,” in light of the US shale gas revolution and tougher pollution rules in China.
That’s quite an assertion, considering oil’s longstanding dominance in transportation energy. As I noted in March2, Italy, Pakistan and several other countries already have well-established demand for compressed natural gas (CNG) for passenger cars. Despite these hot spots only 3% of gas is currently used in transportation, globally, based on analysis from Citigroup3. The IEA is forecasting that transportation growth will consume 10% of the projected global gas production increase of roughly 20 trillion cubic feet (TCF) per year by 2018. That’s 2 TCF per year of additional natural gas demand in the transport sector, equivalent to 1 million barrels per day of diesel fuel.
I’d be more skeptical about that figure if I hadn’t seen a presentation4 from Dr. Michael Gallagher of Westport Innovations at the Energy Information Administration’s annual energy conference in Washington, DC last Monday. Westport specializes in natural gas engine technology for heavy-duty trucks and played a major role in implementing the LNG vision of the ports of Los Angeles and Long Beach, CA a few years ago.
Dr. Gallagher made a strong case for gas in heavy-duty trucking, starting with the low cost of US natural gas compared to oil and its products. Initial growth rates in several segments look encouraging, including transit buses and new trash trucks, for which natural gas now has around half the market. Growth in China has apparently been even faster, with LNG vehicles increasing at over 100% per year (from a small base) and natural gas refueling stations growing at 33% per year since 2003.
In the US, trucking companies can save $1-2 per diesel-equivalent-gallon in fuel costs, while new heavy-duty trucks equipped with natural-gas-compatible engines and fuel tanks cost from $50-75,000 more than conventional diesel trucks. A successful transition to gas for trucking will require a combination of fuel availability, including retail infrastructure, along with high utilization to defray those up-front costs.
Gas supply looks ample for the purpose. The IEA’s forecast includes an increase in US dry natural gas production (gas with the liquids removed) from 24 TCF last year to 28 TCF by 2018. That’s an increase of a little more than 11 billion cubic feet per day (BCFD.) Based on the latest assessment5 from the US Energy Information Administration, US gas resources equate to 87 years of production at that higher rate.
From my perspective achieving this scenario depends less on the availability of the gas than on the ability of new transport-sector users to compete with other segments that are equally eager to use more gas. In the last 4 years gas demand for power generation6 has grown by 6.8 BCFD, mainly at the expense of coal, and there are many who would like to see that trend continue. The IEA report also cited US LNG export projects7 totaling more than 5 BCFD that already have either Department of Energy approval or signed contracts. New gas supplies won t wait around for transportation demand to emerge.
The biggest advantage that gas s new transportation customers have is the value they stand to gain, compared to other gas users. US LNG projects are selling into increasingly competitive global markets paying up to three times the US wellhead price of gas of around $4 per million BTUs (MMBTU). However, exporters must cover the cost of liquefaction and shipping, so their netback over wellhead prices might not be that large. Meanwhile gas’s encroachment on coal in the utility sector has been driven mainly by its low price. As the IEA notes, we’ve already seen this trend slow and reverse somewhat as US natural gas prices recovered from last year’s lows.
Against that, the US retail price of diesel fuel through mid-June of this year has averaged $3.96 per gallon8, equivalent to $31/MMBTU. With retail LNG currently available at a small but growing number9 of locations for under $3 per gallon10, the incentive for truckers to switch fuels looks substantial. And with a typical heavy-duty truck burning more than 10,000 gallons per year of fuel, each gas conversion is equivalent to the consumption of several dozen automobiles.
Fuel transitions take time. One of Dr. Gallagher s charts showed that it took more than 40 years for diesel to displace gasoline from heavy-duty trucks in the mid-20th century. A lot could happen along the way to a multi-decade shift from diesel to LNG and CNG, including new cellulosic biofuels or battery breakthroughs. For now, though, gas looks like a strong contender to provide a cleaner, cheaper fuel with sufficient energy density to be practical for long-distance trucking. This is a trend worth watching.
Geoffrey Styles is Managing Director of GSW Strategy Group, LLC, an energy and environmental strategy consulting firm. Since 2002 he has served as a consultant and advisor, helping organizations and executives address systems-level challenges. His industry experience includes 22 years at Texaco Inc., culminating in a senior position on Texaco’s leadership team for strategy development, …
- ^ Medium-Term Gas Market Report (iea.org)
- ^ noted in March (energyoutlook.blogspot.com)
- ^ analysis from Citigroup (ir.citi.com)
- ^ presentation (www.fbcinc.com)
- ^ latest assessment (www.eia.gov)
- ^ demand for power generation (www.eia.gov)
- ^ US LNG export projects (www.iea.org)
- ^ averaged $3.96 per gallon (www.eia.gov)
- ^ small but growing number (www.cnglngstations.com)
- ^ under $3 per gallon (www.cleanenergyfuels.com)
- ^ website (www.pacificenergydevelopment.com)
- ^ Trucking with Natural Gas?/shutterstock (www.shutterstock.com)
- ^ Geoffrey Styles (theenergycollective.com)
- ^ See complete profile (theenergycollective.com)
Consistent with the current macroeconomic trends, railroads started the year on a mixed note. Going by the rail traffic report for the first quarter 2013, growth in automotive and petroleum products shipments was steady while coal and grain shipments continued to cast a shadow over the rail freight industry.
According to the Association of American Railroads (AAR) rail traffic report, cumulative performance of the North American railroads (including U.S., Canadian and Mexican railroads) have fallen 1.5% year over year in the first quarter of the year. The biggest contributor to this decline was grain, which dropped 11%. Coal volumes followed closely, falling around 7%.
Going by the quarterly performance of the class 1 railroad, we see continued lower volumes from most of these carriers. One of the largest class 1 railroads in North America — Union Pacific Corp. ( UNP1 – Analyst Report2 ) — registered first quarter volume decline of 2% year over year. Another major railroad CSX Corp. ( CSX3 – Analyst Report4 ) also reported a similar level of decline in its volumes. Going forward, Canadian counterpart, Canadian Pacific Railway Ltd. ( CP – Analyst Report5 ) also experienced lackluster growth trend with flat volume growth on a year-over-year basis.
However, railroad operators like Kansas City Southern ( KSU6 – Analyst Report7 ) , Norfolk Southern Corp. ( NSC8 – Analyst Report9 ) and Canadian National Railway Company ( CNI10 – Analyst Report11 ) have shown modest volume growth, mainly driven by the emerging automotive business and rising petrochemical shipments.
Notably, despite mixed carload results, these carriers have mostly generated positive earnings in the reported quarter. The primary catalyst to this bottom-line performance was operational efficiency even in times of low market demand. Rising employee productivity, deploying fuel-efficient locomotives and undertaking railroad safety measures are some of the key drivers of profitability even in adverse market conditions.
Rail carriers like Canadian Pacific recorded operating ratio improvement of 430 basis points year over year. Continued focus on maintaining asset efficiencies, safety measures and increased productivity have been the prime contributors to Canadian Pacific s success in the first quarter. There are several other near-term growth catalysts in the railroad industry.
Rising Contribution of Petroleum Product Shipment
According to the AAR report, rail traffic from petroleum products has seen a whopping 46% growth in the three-month period ended Mar 30. According to the Energy Information Administration s (EIA) reports, U.S. crude oil exceeded 7 million barrels per day production, representing record growth since the last two decades. Further, in 2013, long-term projections of EIA suggest that this growth may also go up to 10 million barrels per day over a period of 2020 to 2040.
As a result, this surge represents a potential opportunity for revenue accretion, which the railroads are trying to tap with infrastructural development. According to industry sources, the role of crude oil as a revenue contributor has grown by leaps and bounds in a four-year span from a mere 3% to 30% of the oil and petroleum products shipment by railroads.
Despite the fact that rail-based crude transportation costs five times more ($10 $15 per barrel), crude shippers are compelled to rely on rail-based transport. This is due to the lack of pipeline infrastructural support in key oil and gas fields like Bakken Shale Formation in North Dakota and Montana, Eagle Ford Shale, Barnett Shale and Permian basin in Texas, the Gulf of Mexico and Alberta oil sand fields in Canada.
In 2012, Canadian National Railway, which operates along the Western Canada (Alberta region) to the Gulf Coast, has shipped approximately 30,000 tank cars of volumes of crude oil, while its counterpart Canadian Pacific shipped 53,000 tank cars of crude during the same period. Another giant railroader, BNSF Railroad of Berkshire Hathaway Inc. (BRK-B), which serves the North Dakota region reportedly earned $272 million from crude shipments last year by shipping approximately 100 million barrels of oil.
In the coming days, we expect railroads to accelerate their investment in order to create adequate service capacity for the oil and gas markets. Canadian Pacific projects crude shipment to reach up to 70,000 oil-tank cars by the year-end and move to 140,000 by the end of 2015. This kind of exponential growth in crude oil shipments is taking place across the rail industry. Consequently, we expect petroleum shipments to remain favorable and emerge as a significant revenue contributor in the long term.
Currently, Mexico is a growing market for automotive production and assembly given the lower cost of production there. As a result, markets sources predict that in the coming years, auto manufacturers are expected add capacity to accelerate manufacturing by 600,000 additional vehicles per annum. In the first three months of 2013, auto shipments by rail in Mexico increased 4.6% while in the U.S., auto shipment via rail rose about 2%. This counterbalanced the 1% drop in rail auto shipments in the Canadian market.
We believe upcoming plants by Honda Motor Co., Ltd. (HMC12), Nissan Motor Co. (NSANY13), Mazda and Audi would further boost auto production in Mexico. The facilities would also bode well for automotive shipments. Based on these proposed expansion plans, finished vehicle production in the Mexican market is expected to reach 3.5 million units in 2015, up about 35% from the 2012 production level.
The growth will provide carriers like Kansas City Southern, which operates across the Gulf of Mexico, ample opportunities to ship raw material into Mexico and return the finished products to the domestic market as well as to the U.S. and Canada. The increase in automotive production is also giving rise to new steel plants and processing centers across the company s service networks. These steel plants are likely to bring opportunities for steel shipments and other related products.
However, in the coming year, the growth can be slightly muted by the onslaught of the fiscal cliff. According to market reports, auto sales may see single-digit growth due to a change in consumer behavior owing to the U.S. tax policy changes. If the situation improves on the macro front, there should not be a cyclical downturn in the way of automotives.
The railroad industry is gaining largely from the ongoing conversion of traffic from truckload to rail intermodal. Intermodal is gaining popularity among shippers given its cost effectiveness over truck. On average, railroads are considered 300% more fuel-efficient than trucks, and we believe that intermodal will play an important role in driving the rail industry based on the growing awareness among shippers about its benefits.
Currently, rail intermodal accounts for over 20% of the railroads revenue, second in line after coal. In the coming years, we expect this contribution to only rise given the growing dependence of shippers on intermodal services.
Apart from these positives, other factors likely to have a material impact on Railroads near-term, top and bottom line growth include:
Coal represents important commodities and accounts for over 40% of railroad tonnage. According to EIA reports, coal production hit lows of 9.9 million short tons (MMst) in first quarter 2013, representing a steep decline from 22.7 MMst in the year-ago quarter. As per AAR reports, coal shipments by rail also continued to decline 8% in the U.S. market. The decline was partially offset by 11% and 9% growth in rail shipments in the Mexican and Canadian markets, respectively.
Domestic coal demand, of which utility coal accounts for approximately 93%, is witnessing persistent declines. Lower natural gas prices imply that gas is largely substituting the demand for utility coal. Additionally, higher stockpile levels have resulted in lower utility coal demand. Besides, natural gas prices, another important factor that resulted in the decline of coal-powered plants are the environmental issues associated with coal burning.
However, in 2013, coal consumption in the domestic market is expected to grow 7% year over year to 948 MMst and reach up to 957 MMst in 2014 on the back of rising natural gas prices.
On the export front, the scenario remains entirely different. After reaching highs of coal export in 2012 (126MMst), EIA projects U.S. coal exports to decline 15% year over year to 107 MMst in 2013. However, 2014 may show modest improvement with exports of 109 MMst. Factors like an economic overhang in European markets, lower U.S. coal pricing, higher stockpile levels and increased exports from Indonesia as well as a recovery in the Australian mines are the primary reasons for the expected decline.
Since 2012, the Grain market has been experiencing lows due the drought in the Mid-West markets. The outlook for 2013 is also not encouraging enough to elevate rail freight shipment from its current lull.
According the rail traffic report of AAR, North American grain shipment registered a decline of almost 11% in the first three months of 2013, which was partially offset by 24.6% growth in Mexican grain shipment. In April, the U.S. Department of Agriculture (USDA) released the World Agricultural Supply and Demand Estimates (WASDE) report, which states that total U.S. corn demand, will go down by 11.1% from the year-ago level.
U.S. corn exports will hit a low of 48.2% from last year with use of ethanol decreasing 9.2%. We believe that the impact of lowered estimates would be felt on railroad shipment as rail freight serves the majority of export shipment in the crop market.
Investment in development and expansion plans remain critical when analyzing railroads prospects. These capital investments are a double-edged sword. While the investments put significant stress on margin performance, forgoing these would result in a loss of growth prospects.
Railway investments are paramount given the evolving supply chain management and increasing role of airfreight carriers in offering freight transportation services. These investments build the required infrastructure needed for railways to stay afloat in a competitive environment not only within the railroad industry but also with other modes like truck, barges and cargo airlines.
As a result, investments in infrastructural projects have been an integral part of railroads development. However, this sector, characterized by huge capital influx has been drawing funds primarily through private financing.
As a result, investment plans when undertaken can have a considerable impact on the liquidity position of the company and may lead to a highly leverage balance sheet. According to AAR reports, railroads invest approximately 17% of their annualized revenue, which compares with only 3% of average U.S. manufactures revenue on capital expenditures.
According to the Department of Transportation (DOT), the demand for rail freight transportation will increase approximately 88% by 2035. As a result, Class I carriers would have to expedite their investments to meet this growing demand.
It is estimated that railroads would require $149 billion to improve rail network infrastructure within this stipulated period. In respect of current investment requirements, railroads would invest about $24.5 billion in 2013 according to AAR. This figures project an escalating trend when compared with recorded investment of $23 billion in 2012 and $12 billion in 2011 as per AAR.
Given the growing demand and need to upgrade railroad infrastructure to meet new regulations, deployment of fuel-efficient locomotives, upcoming rules on track sharing, railroad safety and high-speed rail services make it mandatory for railroads to infuse more capital on development projects. According to DOT, almost 90% of the railway capacity needs to be upgraded to meet the expected rise in demand level by 2035. Hence, for railroads it is important to balance profitability levels while investing in infrastructural development projects.
Currently, the U.S. railroad industry dominates less than 50% of total freight in America , indicating a huge opportunity for increasing market share. This opportunity can only be exploited by building railroad infrastructure that caters to the varied requirements of shippers.
The railroad industry as a whole offers a number of opportunities that are difficult to ignore from the standpoint of investors.
Discretionary Pricing Power: The freight railroad operators function in a seller s market and have enjoyed pricing power since 1980, when the U.S. government adopted the Staggers Rail Act. The idea was to allow rail transporters to hike prices on captive shippers like electric utilities, chemical and agricultural companies in order to improve profitability of the struggling railroad industry. As a result, of the Staggers Rail Act, railroads are hiking their freight rates by nearly 5% per annum on average, while maintaining a double-digit profit margin.
Duopolistic Market Structures: Railroads have by and large gained by practicing discretionary pricing in the freight market. In the prevailing duopolistic rail industry, railroad operators will be able to reap maximum benefits from rising prices when the overall demand grows.
This remains evident from the geographic distribution of markets between major railroads. Union Pacific and Burlington Northern Santa Fe control the western part of the U.S., while CSX Corp. and Norfolk Southern control the eastern part. On the other hand, Canadian Pacific and Canadian National control inter country rail shipment between the U.S. and Canada.
Despite the above mentioned positives, the freight railroad industry, like other industries, faces certain external and internal challenges. These are as follows:
Capital Intensive Nature: Railroad is a highly capital intensive industry that requires continued infrastructural improvements and acquisition of capital assets. Moreover, industry players access the credit markets for funds from time to time. Adverse conditions in credit markets could increase overhead costs associated with issuing debt, and may limit the companies ability to sell debt securities on favorable terms.
Positive Train Control Mandate: The Rail Safety Improvement Act 2008 (RSIA) has mandated the installation of PTC (Positive Train Control) by Dec 31, 2015 on main lines that carry certain hazardous materials and on lines that involve passenger operations. The Federal Railroad Administration (FRA) issued its final rule in Jan 2010, on the design, operational requirements and implementation of the new technology. The final rule is expected to impose significant new costs for the rail industry at large.
Price Regulations: The pricing practices of U.S. freight railroads are the major reasons of friction with captive shippers, who move their products through rail and do not have effective alternatives. According to the latest studies by the STB, approximately 35% of the annual freight rail is captive to a single railroad, allowing it monopoly pricing practices.
The unfair pricing power exhibited by the U.S. railroads has attracted congressional intervention for exercising stringent federal regulations on railroads. Congress has discussed railroad price regulation but has not passed any new rule so far.
U.S. Environmental Protection Agency: Railroads remain concerned about the proposed regulation by the U.S. Environmental Protection Agency (EPA) for power plants across 27 states. The proposed guideline Carbon Pollution Standard for New Power Plants aims at restricting emission of carbon dioxide by new power plants under Section 111 of the Clean Air Act. The standard proposes new power plants to limit their carbon-dioxide emission to 1,000 pounds per megawatt-hour.
Power plants fueled by natural gas have already met these standards but the majority of the units using conventional resources like coal are exceeding the set limit, as they emit an average of 1,800 pounds of carbon-dioxide per megawatt-hour. Railroads, which transport nearly two-thirds of the coal shipment, are most likely to be impacted by the implementation of the new regulation that could pose a significant threat to utility coal tonnage.
- ^ UNP (www.zacks.com)
- ^ Analyst Report (www.zacks.com)
- ^ CSX (www.zacks.com)
- ^ Analyst Report (www.zacks.com)
- ^ Analyst Report (www.zacks.com)
- ^ KSU (www.zacks.com)
- ^ Analyst Report (www.zacks.com)
- ^ NSC (www.zacks.com)
- ^ Analyst Report (www.zacks.com)
- ^ CNI (www.zacks.com)
- ^ Analyst Report (www.zacks.com)
- ^ HMC (www.zacks.com)
- ^ NSANY (www.zacks.com)
Volvo Trucks have committed themselves to developing commercial semi-trucks and a vehicle lineup with the best emission standards in the industry. Last week, Volvo announced on their website they have received a 2014 greenhouse gas certificate for their entire class 8 vehicle lineup. As a Volvo truck dealership, we re ecstatic to carry these trucks at both of our locations in order to provide companies and drivers with a fuel efficient vehicle committed to doing its part to preserve the planet.
In an article on their website, Volvo leaders issued statements about the certification and their lineup. Volvo is committed to leadership in fuel efficiency, and to reducing the carbon footprint of our operations and products, said G ran Nyberg, president, Volvo Trucks North American Sales and Marketing. Environmental care is a longstanding Volvo core value, and we will continue to work with EPA and NHTSA to deliver on the important goals of these regulations
Volvo has changed the designs of their trucks to make them aerodynamic, adding components to the inside and outside of the trucks. The EPA and NHTSA certifications apply to all configurations of the Volvo VNL, VNM, VHD and Autohauler models, all of which can be found on our site. You can find out more about the Volvo trucks and their n2014 vehicle 8 lineup on their website or by clicking on the news story here1.
Clean Energy Fuels has met its goal of completing 70 liquefied natural gas truck fueling stations this year, finishing the first stage of a network to support long-haul, heavy-duty trucks moving goods along major interstate corridors throughout the United States.
The company, one of the largest providers of natural gas fuel for transportation in the US, previously completed six LNG fueling stations in Southern California. Of the 76 LNG truck fueling stations now completed (see map, above), only 10 are open and operating. The six in Southern California are open as well as fueling stations in Las Vegas; Dallas; Baytown, Texas; and Seville, Ohio.
Clean Energy Fuels will open more stations once there s demand, spokesman Bruce Russell said. The company is in contact with major trucking companies and as new natural gas truck engines roll out, demand for the fueling stations will rise, he said.
Meanwhile, the company plans next year to build another 70 to 80 additional LNG fueling stations adjacent to long-haul trucking routes and around major warehouse distribution centers in the US.
Last month, Clean Energy Fuels announced it would work with GE1 to expand LNG infrastructure as part of its plan to enable trucks to operate on the fuel across the United States. Clean Energy said it will buy two MicroLNG plants from GE Oil & Gas as part of the deal. Each plant, which will support fueling stations along critical transportation corridors, has the capacity to produce 250,000 gallons of LNG per day, GE said.
The plant is designed to expand to up to 1 million gallons per day as adoption and demand increases. The LNG produced by the MicroLNG plants will be used primarily at Pilot-Flying J truck stops.
A report released last month by Carbon War Room and Trimble said the trucking sector could save 624 million metric tons of CO2e2 by 2022 if US tractor-trailer fleet operators adopted seven currently available efficiency technologies.
More than 26 million trucks of all classes in the United States hauled more than nine billion tons of freight in 2010, consuming nearly 50 billion gallons of fuel and producing more than 402 million tons of CO2e emissions in the process, Carbon War Room said.
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