Here are five things worth knowing today:
1. Santa Barbara County officials nixed Exxon Mobil’s request to use tanker trucks to transport crude oil from offshore wells through Santa Barbara County, according to the Orange County Register. Last month, a pipeline break caused 101,000 gallons of oil to “blacken beaches and create an ocean oil slick,” the Register said. According to the report, Exxon normally moves oil from three offshore platforms through more than 10 miles of pipeline; however, that movement has been stopped since the recent spill, cited as “the state’s largest oil spill in 25 years.”
2. Late last night the House passed a $55.3 billion measure for transportation and housing projects, The Hill reports. Lawmakers approved the bill in a 216-210 vote, and rejected amendments from Democrats that would have increased funding for Amtrak and the D.C. Metro, according to the Hill. “Passage of the bill came after the White House threatened to veto the legislation earlier in the week because of insufficient funding levels, capped by sequestration, and controversial policy riders that would undermine President Obama’s policy to normalize relations with Cuba, block funds for the transfer of any detainees at Guantanamo Bay prison to the United States and undo trucking regulations,” according to the Hill.
3. According to The Street, the S&P 500 has averaged returns of about 10% a year over the long run, but one trucking company, C.H. Robinson, is expected to deliver returns of 11.9% on average over the next several years. “Founded in 1905, C.H. Robinson has grown to reach a market cap in excess of $9 billion and has 281 offices in 36 countries and more than 12,600 employees,” The Street reports.
4. This week, Massachusetts State Police and the Massachusetts Department of Transportation are cracking down on speeding and aggressive and distracted driving for I-495 and I-95 through the Foxboro area. According to MassDOT, the effort is part of a Highway Safety Corridor Program to reduce incidences of speeding and driving-related crashes involving fatalities and injuries. “The program uses radar technology to calculate the average rate of speed through segments of I-49 and I-95 and will be used to deploy state police patrols during times where the data show vehicle speed above the posted limit,” MassDOT said.
5. Massachusetts transportation officials proposed a $3 billion plan for highway, smaller airports, freight trucks, motor vehicles and MBTA projects for fiscal year 2016, according to The Berkshire Eagle. According to the report, most of the funding would go toward repairing and upgrading existing infrastructure. The Eagle has more.