The long-term future for global trade remains solid, and we are committed to providing solutions for businesses — large and small — to effectively compete in this important market.

This country – and much of the world economy – is in a backwards slide that must be reversed. Many leaders in corporate America today, including me, have ideas on the biggest challenges we face and the best solutions. I shared my own views on this recently with the National Association for Business Economics in Washington, D.C., of which our Chief Economist Gene Huang is president.

To revitalize our economy and build opportunity for current and future generations, we must:
• Reduce our reliance on imported petroleum;
• Combat overregulation; and
• Revitalize business through tax reform, education and training.

Just like you, we’re keeping an eye on the cost of fuel. At FedEx, our vision is to help develop a new short-haul transportation system powered by electricity. I am a member of the Electrification Coalition, which recommends the creation of “electrification deployment communities” — areas where incentives would support electrification on a broad scale.

Today, FedEx is testing all-electric pickup and delivery vehicles in the U.S. and Europe. Early results indicate that operational and maintenance costs could be 70 to 80 percent lower than those costs for internal combustion engines.

View a video that highlights more of my thoughts about the future of electric vehicles.