Key Currency Exchange Rates for Friday, 2/26/21

The best approach to decarbonization provides the greatest environmental benefit at the lowest possible cost. Current regulations do neither while unleashing inflationary consequences that will be felt for decades to come. EV mandates for the trucking industry are an enormous mistake for many reasons validated by a new study from the American Transportation Research Institute. The report, Renewable Diesel – A Catalyst for Decarbonization, provides data using the U.S. Department of Energy's GREET model that proves renewable diesel (RD) has a much smaller carbon footprint over its lifecycle than do battery-electric trucks, and that widescale adoption of RD in trucking can be achieved at a fraction of the cost of electrification. To be clear: the trucking industry is not opposed to battery-electric vehicles (BEV). Some fleets are testing them, and the initial results are mixed at best. What's abundantly clear from early adopters of this technology is that the hurdles to widescale adoption are so massive and undeniable that target and timelines mandated by the U.S. Environmental Protection Agency (EPA) and the California Air Resources Board (CARB) can be described as nothing more than utterly disconnected from reality.

A group of transportation and trucking stakeholders is calling on Congress to repeal the Federal Excise Tax (FET) on heavy-duty commercial vehicles. This century-old tax is impeding the deployment of cleaner, more environmentally friendly trucks on our nation's roads, according to a letter from the American Trucking Associations, American Truck Dealers, and Zero Emission Transportation Association sent to Congressional leadership. The heavy-duty excise tax was established in 1917 to defray the costs of World War I and today adds 12% to the cost of a new truck, creating a major disincentive for trucking fleets small and large to modernize their equipment and replace older tractors with new, low-emission power units. The FET can add more than $50,000 to the price of the latest low- or zero-emission vehicle, making these investments cost-prohibitive for smaller fleets. Over 90% of U.S. motor carriers operate six or fewer trucks. “If Congress is serious about safety, the environment and jobs, then repealing the FET should be front-burner," said ATA President and CEO Chris Spear. "It’s time to shelve this World War I era tax and starting putting the best equipment on our roads.”

Marketers’ disgust with online ad fraud has created an opening for our industry, but we’re not ready to take advantage of it. Our out-of-date, out-of-synch approaches to magazine advertising proposals are holding us back from taking advantage of this new opportunity. Judging from my interactions with advertising sales reps, they’re seeing fewer digital-only RFPs these days and more media-agnostic ones. Marketers who were in the “print is dead” camp now seem intrigued with the ability of print to engage their most valuable prospects. But simply buying ad pages in general-interest magazines is not their idea of effective targeting.