Terrified by peak oil, FedEx turns to biofuels, efficiency
FedEx owns 700 planes and tens of thousands of trucks, which is why CEO Fred Smith is crazy for energy efficiency, reports NPR.
Shortly after Smith founded Federal Express, the 1973 Arab oil embargo almost killed it. The experience imprinted Smith with a keen interest in the price and availability of oil.
FedEx’s forthcoming all-electric pickup and delivery vans will cost one-quarter as much to operate per mile as their gasoline equivalents, says Smith. He also predicts that electric vehicles will be in wide commercial use in about six years.
In the future, he sees his jets being powered by algae-based fuels, and his long-haul trucks running on natural gas. Smith is a staunch Republican, by the way, and a perfect example of how energy efficiency is a no-brainer that cuts across political lines.