Energy Sector Roundup: Oil, retail gas edge up to new highs

Trucking group urges slowdown to cut fuel costs

The leading U.S. trucking industry trade group laid out a plan to cut fuel consumption and emissions over the next 10 years, mostly by urging members and the public to slow down.

The American Trucking Associations, whose members include FedEx Corp., UPS Inc. and Con-way Inc., said it now costs more than $1,000 to fill a typical tractor-trailer. That means the industry could end up spending a record $135 billion on diesel this year, up $22 billion from 2007, according to the ATA.

Among the group's proposals: limiting the speed on new trucks and lowering the national speed limit to 65 mph for all vehicles, reducing engine idling, boosting fuel efficiency, and easing highway congestion, possibly with a new fuel tax.

Adopting its guidelines could cut fuel consumption by 86 billion gallons and carbon dioxide emissions by 900 million tons for all vehicles over the next decade.

Dynegy swings to 1Q loss on accounting loss

Dynegy Inc. swung to a first-quarter loss as power prices surged, leading the Houston-based power producer to record bookkeeping losses to account for some advance sales.

The company reported losing $152 million, or 18 cents per share, compared with profit of $14 million, or 3 cents per share, in the same period last year. The total included $284 million in mark-to-market accounting losses on certain forward power sales.

"The higher prices we're seeing in the forward markets, particularly in 2009 and beyond, reflect the overall tightening of electricity markets and rising energy commodity prices that set the marginal price in the marketplace," Bruce Williamson, Dynegy's chairman and chief executive, said in a statement.

--Compiled by AP Business Writer Adam Schreck