AAA Daily Fuel Gauge Report for Friday, 9/22/23

UPM Plywood, Arctic Astronautics and Huld announce today a joint mission to launch the first ever wooden satellite, WISA WOODSATTM, into Earth’s orbit by the end of 2021. WISA Woodsat will go where no wood has gone before. With a mission to gather data on the behavior and durability of plywood over an extended period in the harsh temperatures, vacuum and radiation of space in order to assess the use of wood materials in space structures. WISA Woodsat is a nanosatellite designed and built by Arctic Astronautics, and it is based on the Kitsat educational satellite. The satellite measures roughly 10 x 10 x 10 cm and weighs one kilogram. A suite of on-board sensors, including two cameras will be used to monitor the specially coated WISA®-Birch plywood.

“After declines in November and December totaling 1.7%, tonnage was unchanged in January” said ATA Chief Economist Bob Costello. “This outcome is impressive considering the massive winter storm that brought cold temperatures and significant snowfalls to large parts of the country, including those that rarely see such storms. Furthermore, the terrible wildfires in California likely also caused freight disruptions. Softness in manufacturing and retail sales continue to be a drag on truck freight volumes as well, so the fact tonnage was flat is a positive sign.” In January, the ATA advanced seasonally adjusted For-Hire Truck Tonnage Index equaled 111.9 the same as December. The index, which is based on 2015 as 100, was up 0.3% from the same month last year, the first year-over-year increase since August. The not seasonally adjusted index, which calculates raw changes in tonnage hauled, equaled 110 in January, 1.1% above December’s reading of 108.9.

The American Trucking Associations applauded congressional leaders for introducing legislation to repeal the antiquated federal excise tax on the purchase of new trucks and trailers. “First implemented over a century ago to help finance America’s effort in World War I, the FET has become the largest excise tax on any product, adding $24,000 to the cost of each new clean-diesel tractor-trailer,” said American Trucking Associations President & CEO Chris Spear. “Keeping this antiquated tax on the books imposes an enormous hardship, particularly for the small fleets, family businesses, and independent truckers who make up the overwhelming majority of trucking. Removing this burden will allow motor carriers to replace their trucks with modern, safer, and cleaner equipment, which will in turn provide a boost to manufacturing jobs. Our industry is grateful to Reps. LaMalfa, Pappas, LaHood, Carbajal, and Miller for their leadership on this issue to improve highway safety, reduce emissions, and strengthen our economy.” The FET began in 1917 to help finance World War I. Today, it is the highest percentage federal excise tax – at 12 percent – levied on any product, amounting to a $6 billion annual burden on the trucking industry.