The first federal gasoline tax in the United States was established on June 6, 1932 with the enactment of the Revenue Act of 1932. Signed by President Herbert Hoover, the gasoline tax was set at 1 cent per gallon.

The current federal fuel tax – 18.4 cents per gallon of gasoline and 24.4 cents per gallon of diesel – has not been raised since 1993.

Source: U.S. Federal Highway Administration

Oil trains crowd out grain shipments to NW ports

As oil trains hauling North Dakota crude delay rail transport of grain to Pacific Northwest ports, the prospect of growing fossil-fuel traffic has some fearing that such shipping disruptions will become a long-term problem impeding exports and the regional economy.

Suez Canal widening to begin this week

The Suez Canal’s major deepening project is just over the horizon as crews will start widening and dredging a 34-kilometer strip in order to improve wait times for vessels using the canal.

Prospect of Nicaragua canal stumps industry observers

When the Nicaraguan government earlier this month approved plans by a Hong Kong-based company to build a canal linking the Pacific with the Caribbean and thus the Atlantic, observers in the maritime industry were largely left scratching their heads.

China lends Argentina $7.5 billion for power, rail projects

Argentina recently signed deals to borrow $7.5 billion from China at a time when the Latin American country cannot tap global capital markets because of disputes over unpaid debt.

New Panama Canal lock gates moved to chambers

The first gates of the Panama Canal expansion program have been moved to the new locks complex on the Atlantic side, marking another milestone in the $5.25 billion project.