Who Makes Billions Paving America's Roads?
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- Опубликовано: 16 май 2024
- The asphalt and road paving industry has always been hugely dependent on federal money. In fact, about 50% of the funding to the industry comes from the U.S. government.
With the Infrastructure Investment and Jobs Act, also known as the Bipartisan Infrastructure Act, signed into law, $1.2 trillion will be invested. That is a 40% to 50% increase over the previous FAST Act. CRH, as the largest road paver in the U.S., is one of the biggest winners. In 2022, CRH made more than $32 billion; more than $20 billion of that came from its business in America. That number is about to increase substantially in the next few years.
But there are some strings attached. More money is going to projects that prove they are better for the environment. The industry has solutions to meet this challenge, such as recycled asphalt pavement and warm mix asphalt. But implementing them in the field poses challenges.
Correction 6/26: At 7:58 we misstated 960billion in dividends. The correct is $960 million in dividends.
Chapters:
00:00 - Introduction
01:13 - The need for asphalt
04:40 - CRH and Industry
11:18 - Challenges
Produced by: Robert Ferris
Editor: Jacob Harrell
Senior Managing Producer: Tala Hadavi
Additional Camera: Natalie Rice, Darren Geeter
Graphics: Alex Wood, Christina Locopo, Jason Reginato
Additional footage: CRH, Getty Images
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Who Makes Billions Paving America's Roads?
It's so annoying that nobody blinks an eye at spending $1 trillion on roads that don't pay for themselves, but building more rail & transit doesn't happen because it "doesn't make a profit"...
Like roads make profit; most of them are unkept and unsustainable.
does usa doesnt have toll taxes
It’s hard to build out rail because of property rights.
Or that we don't mix zones to reduce distances traveled because the expectation is that everybody will drive.
@@kaustubhraizadaIt varies by state but most funding come from fuel taxes.
Several years ago they repaved a two-lane road here. About 12 mi long. Heavily traveled with lots of trucks. They basically did it as a rolling closure. They would chew up the asphalt All the way down to the base and haul it off. Behind that they had two more grinders that took up about 10 in of the base. That was hauled off as well. The old base and asphalt were taken out to off-site locations and mixed with new material and brought right back. They were fed in with more machines directly behind the ones that had taken it up. So you had this giant road closure coming by and as it went by the road went from paved to dirt to dug up base back to reinstalled base and New paving. They did it at night and when they would quit in the morning they would have as much as a mile of brand new road. And I mean brand new. That was a solid 10 years ago and it hasn't been resurfaced since and it's still in good shape. It was one hell of a project to watch happen
About 30 miles of two lane state highway was done the same way here in WI two years ago. Took about 1 month to go down and back. Two hard winters and it's still in new condition and this is a BUSY highway.
The Swiss built the same operation but you can drive over it ( not trucks)
Where was that, and what was the project called? Any videos online showing how they did it?
That's usialy how roads are done.. if there's 2 lanes one is closed and completed before moving to the next.. if it's single lanes, they will do portions and both directions of traffic will weave in and out
This can all be done in a convoy (in situ) where you don't need to take the old and new asphalt back and forth.
We need to be building more railroads, bike paths walkable neighborhoods
Brightline's new Orlando extension from Miami will be such a game changer.
We have railroads. The problem is those railroads are privately owned, and big time cargo businesses own them. We have the largest railroad network in the world. We just need to make more of those railroads more accessible to passenger rail. We have the infrastructure for most things, but it's big time companies that use those resources and thus, we cannot have nice things. We need to just free up those resources. Making more railroads could work but is more expensive than forcing those companies to give up some or at least make them publicly accessible for everyone to use. Couldn't hurt for them just to fit other companies into their schedule.
@@mathmanchris666 A problem with existing rails in the US is that they were not designed for high speed passenger rail in mind. Even lower speed LRT has challenges with at grade crossings. The cost to improve ex. rail for speed and reliability is great.
@@mathmanchris666 to actually get traffic from streets on to rail you actually need more rail. And in the end railroads are a lot cheaper than streets. That is on a per person or per goods transported basis.
But then how would the Biden crime family make money if roads are no longer needing of repair?
Props to CNBC for releasing some content where people are actually talking about solutions to a problem
It’s unbelievable this comes from cnbc..
im just as surprised.
@@no-purpose-here props to the team of journalist that organized this.
There's no solution to American stupidity
“$960 billion in dividends” lol. Good to see that nobody that wrote or said this number realized it’s stupidly wrong
typical of CNBC
I saw that and I was thinking wouldn't that make them even wealthier than Apple? Or even Saudi Aramco in terms of our cash position?
Someone had to do the voiceover AND put the graphic in AND edit the entire video, yet no one asked "How does a company with $32B in revenue pay $960B in dividends?
Enron math….
Shareholders are going to be billionaires lmao
960 Million Dollars in dividends. Not 960 billion
Caught that too...in college I went to see Ted Turner speak and he said "billions" instead of "millions" and caught himself. He said at some point I kind of lose track of which is which. Before long, we will have trillions to fumble around with too.
@@BH_71ah yummy yummy inflationary monetary policy
Lol. As a CRH shareholder, I wish it was $960 billion.
math is not important to journalists. stem is too hard
Probably not even a mistake with all the inflation
From 2004-2010, CRH and a host of other road construction companies went on a buying spree and CRH basically bought up 40-50% of the companies on the USA west coast, rolling them all into one entity while still keeping their original names, like mom and pop's asphalt paving company.
This has allowed them to break union contracts left and right, from the Operating Engineers to the Teamsters, and has driven wages and benefits down in some instances more than 30%, pocketing the rest for the C Suite Club. I know of more than 7 quarries and operations along Oregon's I-5 corridor that they purchased and did this to the workers.
@@zakirsiddiqui1now that is a stupid statement.
No it does not make roads cheaper because in this same video they said inflation has risen the cost of roads (just like other products) and this company continues to grow its profits.
Profits are grown by increasing price tag and reducing employee overhead/benefits.
So no, it is not a good scenario for employees or the government. It is a great outcome for the company…
Workers making less, means the government makes less in taxes which means less money to build/repair roads…
You cannot be this dense 🤦🏻♂️
Argh.. and here I was all impressed with this company. Thanks for the additional insight.
zakirsiddiqui1 Please tell me you’re not actually that dumb.
You mean a corporation is trying to maximize its profit while screwing over its workers? This is an all new low in buisness that I've most certainly never heard of.
@@zakirsiddiqui1 Do you actually think the company will lower their prices to the government and other customers, rather than keep prices the same and pocket the savings from lower wages? If so, you live in a dream world.
This just goes to show how insanely profitable the more mundane sectors can be. If it is something people need, something that is so ingrained into their lives as to be taken for granted, there is money to be made.
*Addendum: Whether it is right or wrong to make such substantial profit on necessities is another question.
capitalism kills by engrains=ing competitive greed and class violence in every single aspect of our lives
Mundane? Ha! Try working on these live lanes of traffic with the motoring public putting your life at risk every single day.
@@njnature ....I meant the business side of it. Selling asphalt sounds about as exciting as selling solar panels or ironing boards.
First thing i did was see if this company had a stock.
Agree. So much bla bla here in Europe about green energy. Meanwhile shell invests hugely in fossil fuels
That doesn't include the payoffs, bribes, and graft.❤ These guys are the biggest thrives in America.
and their boss Buttigieg.
The biggest thieves (unlike you, I spelled it correctly) in America? America, the home of Enron, WorldCom, "Too Big to Fail" Banks, Trump, etc. and the department of roads contractor is #1 on your list? Were you born yesterday? Be honest.
@@KB-ke3fiHis new name is Secretary Booty juice 😂
I’ve worked with CRH in the UK paving roads and building asphalt highways at night. I’ve seen first hand of how they’ve franchised off their tipper/dump trucks to drivers and then not given enough work to cover truck repayments and employee wages. It’s a shame that they’re making such huge profits but are making it from false promises.
Its always like this and people still fall for it.
You don't ever want to accept financing terms from a company with a vested interest in seeing you fail.
Think about it. As a driver seeking an independent living, you sign a loan for your new truck with the company responsible for basically all of your hauling jobs. They give you lots of work until maybe 85% or more of the loan is repaid. Then they starve you. You go into default, they get a basically free truck.
@@kenofken9458 that, or they just lower the prices so you have to work more just to survive.
That’s everything, capitalism. If any of us were the person making those billions we wouldn’t be complaining. 🤷🏽♂️
You failed to mention the loss of lives associated with their business.
I like how the fact that roads are heavily subsidized by other funding outside of "road tax" is quickly glossed over.
The "road tax" i.e. gas tax need to be raised, it's so far behind what is needed. No one has the balls to do it, so it's just a patchwork of temp funding from congress instead of actually coming from a fund that pays for itself instead of being perpetually 20 years behind where it needs to be.. Or just change the funding structure altogether and stop fooling around, and believing the gas tax is paying for all of this..
Yep. It means that everyone who doesn't drive is subsidising everyone that does.
@@mrawesome9219Not really. Only if you are a very low spender who pays a lot of taxes. Remember, you indirectly use the roads for all the goods you buy plus Defense, Government Services, etc. Remember, if you don’t make near median income, you don’t pay much taxes.
That being said, the gas tax needs to come up for many good reasons. What’s killing the country,and the environment, is taxing labor.
How to fix traffic: trams with grass
Asphalt companies: 😳
The actual problem is urban planning which is an utter joke in the USA! All those massive road surfaces and parkings because you must have to drive everywhere you go!
And those Infrastructures are been built/maintained by ICE and oil while EVs just are useless.
@@alanmay7929 Also all the regulations that you "must" have X number of parking spaces for a business, or development. They make a shopping mall, then have to put in the absolute max number of parking spaces that theoretically might be needed, i.e. if every store has max capacity of customers so we need "this many" parking spots on the ONE day a year you might reach that level of customers. Never mind it's likely to never ever happen. But we gotta have all the possible parking sports for a day that will never happen.. Why? Why does the U.S. do this, we need way less space taken up by acres of parking. Put in more walkable neighborhoods and affordable housing where those stupid parking lots that never get used to full capacity..
What stood out was the remark that revenues were up 50% because of federal spending, but costs were up 30% because of inflation.
You're still 20% ahead of where you were a year ago. Did anyone reading this comment get a 20% annual raise? Probably not.
Crazy how what are essentially monopolies are selectively allowed.
VIRGIN PAVEMENT
Even if you had the capital to compete would you?
Its not a monopoly if there are 6+ other options.
not even close to being a monopoly.
Political contributions protect companies. 😊
IMHO
this is the first CNBC viewing I've had in a long time where I wasn't upset with the bias, just true reporting. Very nice
That says more about you than CNBC.
Your right just a news story nothing about bashing Trump or lgqebt rights
Only partly True. What they leave out is, to the detriment of non-Latino Americans, cost are kept down by a Blind Eye being turned to Illegal workers being employed in this sector. (Top Supervisors excluded) If employees only speak Mexican (difference between Mexican and Spanish. Learned that in Spain) Non-Mexican speakers become a Burden/Hindrance by Design!
@@rpalmer274Yeah because faux business doesn’t bash Biden every two minutes!! Especially that god awful maria woman!!🥴
I was going to say the same thing. I thought it was going to just be another hit piece on large corporations.
Hey from Europe. This was your engine for the ecomony, it was something everyone admired in the US. Now your humongous road network eats your money and holds you back from the next level: High speed rail.
Nobody wants high speed rail. Stop pushing your beliefs on us.
@@mirzaahmed6589 You might not want it now when you are not informed enough. I understand that. But in 30 years you will regret so much, if you don't build it.
@@ob0273you have to think one example of HSR operating in the US would open the floodgates. Even Brightline’s extension to Orlando, far from true high speed rail, is turning some heads
Because of Population density and high operating costs
@@mirzaahmed6589 Uzbekistan have high speed rail lines - yet America doesn't. What year are you living in? I bet your whole life revolves around your car?
Or we could have both heavy long distance rail-trains, and intercity/city light rail trains with fresh grass and trees lining both sides, covering bike paths too :)
Big brain, 100% agree
wouldn't work, for multiple reasons
@@southrichmondtofl those reasons are?
@@lionofgod1353 One huge one is I nor anyone I know could be transported around efficiently enough to where we need to be from where we live to run the economy and the country. Please tell me you really don’t believe trains bike or public transportation could get the people in this country around to keep this economy afloat??? 😂
@@southrichmondtofl I don’t know why your so hostile, I don’t want cars to be banned, I just want alternatives to the car, if you think that’s a crazy thought you are gone
"Golden age" lmao maybe golden age of investment. But nearly the inverse in terms of actual upkeep. Funny how that works.
Money is going to up keep
@@grimaffiliations3671 With little results to show it seems. TAXPAYERS used INVOLUTARY INCOME FOREFEITURE. It's not very effective...
sounds eerily similar to the United States medical industry!
CRH is also benefiting from the fact they have a replace a *LOT* of asphalt that were mixed with Johns Manville-sourced asbestos fibers starting in the 1960's.
Asphalt from the 1960’s? Fk, it don’t even last 10 years around my parts.
Are you from the Balkans?
I promise you that's not today's mix or the last 20years
Why US is not making high speed rail network like Japan and China. I mean in 10 years US can have one the biggest High speed rail network. I will help reducing carbon footprint boost the productivity, low cost comparing to both road and air cost and also this network can on green energy .
To many issues with land ownership, giant Country, private own rail networks, small population per land sizes, it's nothing like China or Japan when looking at out Country layout and populations that live across it so it would cost too much and too much red tape.
There’s lower hanging fruit out there than high speed rail that would have a greater return on investment. I’d instead like to see 9-5 peak direction commuter rail systems turned into two-way, all day, regional rail. What Toronto’s Go Transit is doing is a great model for American commuter rail systems.
Population density, the vast majority live in suburbs
There's a road near me divided by a county line. My county used traditional paving methods, the other county using recycled. Three years later, the difference is clear. Ruts forming and chunks falling off on their side while our side is almost like new.
I'm a road builder. They mentioned using recycled tires. Oh, God NO!
We tried that. What a disaster. Road fell apart. We had to go back in and tear it all out.
We're best off using the best materials we can. The road will last double to triple as long while only costing a couple percent more. I'm close to retirement and there's roads I built when I was young that are still in good condition 35 years later. The low bid system isn't doing you any favors. We should concentrate on quality over low price first. Pay a little more, get a lot more.
@@TheBandit7613 where does a road last 35 years?? nowhere in the north east . can only be in warm climates.
@@ronblack7870 It rains 4 times per year here and no snow or salt. Las Vegas.
Insitu Repave Process - it sucks. Same with foamed asphalt and high RAP asphalt. 😮
Asphalt that lasts 10+ years isn't good for job security or investor returns. Better to have it crumble after two years to keep the contracts coming.
The nearby federal highway hasn't been repaved in fifteen years. It's a longer interval than you're suggesting.
Asphalt is one of the most recyclable materials in the modern world. not only is it easily recyclable, but it is cheaply recyclable. You can not say that about many things.
Only if we dont count the thousands of gallons of oil that are "binder" that actually makes the asphalt work. Asphalt is small gravel and lots of oil.
@@jakkarro294But that oil is not being burned so it doesn't end up in the atmosphere.
@@daniels.3062 Lol, you mean the oil and fuels used to pump, refine, transport,, heat to 180 degrees, transported to placement and then placed by heavy equipment should not count. When factored in, and studied, asphalt and concrete production and placement is by far the largest carbon emission in the world. Calling it "recyclable" is both ignorant and dangerous.
@@jakkarro294 Everything we do has SOME cost associated with it. You don't get something for nothing. So 'recycling' asphalt is still better than the alternative.
@@jakkarro294 Yeah let's try that with electric. lol
In Germany during the Cold War, roads that were expected to be used by NATO tanks during deployment in case of attack by the former Soviet Union were all built with concrete because only concrete would not fail under the weight of tanks. Unlike in the United States, some military training exercises - like Reforger - were done outside of designated military training areas in civilian areas to give soldiers a realistic idea of what it would be like to go to war and so civilian roads were used all over the countryside by armored vehicles.
I like the comment made at the end of the video, " one of the best sustainability and long term cost saving measures is building roads that last longer" It seems that too often, with any product, people get hung up on sustainability in manufacturing and lose sight of the sustainability of long term usage.
Nice info.
I had work on new technology on concrete, asphalt and as well as recycling them in early 2011. We did come up with a slew of various unexpected wonder experiments with all the test done in two of Maryland testing lab as well as in Florida and it all surpassed the industry benchmark standard. Our test was funded by a generous founder of a bio-tech company Emergent during my stint at his Polo Club.
Currently, we are hoping to enter these technology in some sort of a competition open to private entities, university and agencies to the likes of ChallengeX of some sort worthy of the price winning. For now we'll keep it as trade secrete. Patent it will be suicidal and heartache even with NDA in today's court rulings.
Yes, We do welcome venture capital inquiries.
This is a fantastic video, great deep dive into the stock and the underlying company and its operations.
Please keep making videos like this, of substance
🤓 - roads would last longer, if high speed rail was used (or expanded) for freight. Getting heavy loads off roads is critical.
Then smaller freight trucks would be for local and/or regional transport.
...
true streats for cars are quite more expansive than railroads on a per person or a per good basis. so getting as much traffic as possible away from cars is the best way to reduce costs for streats. But that is not just rail. we are not just talking about long distance, but also local traffic. bike lanes for example cost about a 50th of streats, have a higher capacity and last longer. So not having them in place for local traffic thereby producing more car traffic is also a gigantic waste.
we dont have hi speed rail established yet. Lets start there first. Rail as it stands right now is mainly designed for bulk material and containers. Plus the rail industry needs a overhaul esp in regards to their staffing practices before we even begin to discuss railways.
And then there’s the problem of environmentalists blocking interstate commerce from said rail movement because they don’t want xyz to be transported in their backyard.
Which amounts to certain liberal driven states.
The Man: it's the Golden age of infrastructure
Meanwhile Cities: tearing down bridges highways and overpasses because they too expensive to maintain, replacing them with public transit and bike paths
Tearing down bridges and roads while losing population. Sounds like everything is going great.
@@tira2145 What places are losing population from tearing down bridges and roads? Please let me know!
The car industry fight for survival time to give it the finishing blow
@@QuintonPierre777 Do you really think that mass transit will ever take over the freedom that personal vehicles give everyone?
@@tira2145 have to get the DOD Secretary on board like what happened for the Fed. highway act of 1956.Additional,the Chambers of Commerce secretary has to abolish the SZEA of 1916. Lastly, we have to also re-establish nationalization of the rails which was stopped due to the 1920 transportation act this is a discussion one has with the fed finance committee chair . Then only then that question can be fully answered .
Great clip. Educational and informative.
Crazy how in Cyprus in the SBA area the asphalt is brilliant with all that heat it goes from year to year decade to decade.
Recycle more Asphalt. But it's the Companies that own the Quarry's have the Asphalt Companies. It must be in their interests to dig and sell rock.
“One of the best cost saving is building roads that last longer” you know what would help cost savings is if their was a magical way of getting places without using roads (good public transportation) CMBC disappoints on every video about transportation
Our population is too large and the Country to expansive. Public transportation works in Japan/Europe because of small land areas and or congested population.
@@HermannTheGreatnobody serious is building a train from Biloxi to Grassy Butte, you need to look at the regional scale where the investments absolutely make sense.
@@eriklakeland3857 You made my day! Thank you for using common sense
@@eriklakeland3857 it’s just as you say and NJB has a vid for that! 😁
ruclips.net/video/REni8Oi1QJQ/видео.html
public transportation is a culture thing, you cannot afford to build them if nobody wants to ride on there.
Very informative video, thank you team at CNBC for investigating this area of life I so often overlook
Politicians are making billions not paving our roads. They pass spending packages that are supposed to be for infrastructure but we all know where that money really goes.
Is CRH recieveing money from US taxpayers in ways other than asphalt supply? Absolutely, they benefit from some of the lowest corporate taxes in the world. They probably also price gouge as much as pentagon contractors. Spare me the nuance in this story. Our country wastes money allowing people to play the role of "successful billionaire". This is so absurd that we allow companies as large as CRH to have this kind of security 9ver their profit margins. They shouldn't make business out of public maintenance.
Sure. Let's turn into Venezuela. LOL.
And now the FEDS have convinced the voters that the tax payer is going to forgive and pay for every college kids tuition. Anything for a vote.
@@disel4life were the world strongest economy. If our federal government isn't capable of producing asphalt then I don't want to be here.
@@stevenjohnson891 read your constitution. The government has NO BUSINESS producing asphalt. Good bye.
imagine what it would be like without all waste and greed, but theres one problem, Humans
We need more trains
How is it going in CA? Poor planning and mismanagement
No we don't. 99% of the US doesn't have the density to support them.
@@mirzaahmed6589 what do you think of Brightline’s operation in low density, car centric Florida? Is that not a model for other areas of the country? And there are a ton of lessons on transit from similarly sprawling Canada and Australia.
I agree, and so does NJB
ruclips.net/video/REni8Oi1QJQ/видео.html
I remember a news story years ago about a gentleman who shared his entire wealth with the people who worked for him when he sold his very successful paving buisness.
Yes I believe he was from Michigan. I remember that.
Thompson-Mccully is who youre talking about. Bought out by, CRH actually.
It was also a Michigan business
I guess he was paving the way for them to have a better life.
Guy lived in his Original home 1300 square feet.Agood man.
On Arkansas interstates we’re only allowed to use 6 or 7 percent of RAP. I remember one time we had a project where the company I work for now used old shingles to do a parking lot for a school. Not sure how long it’s gonna hold but it looks to be okay for now
We need Theodore Roosevelt to run the justice department
funny thing people cry theres no jobs and when there is jobs people cry its a wrong.
And the NYPD, like he did in the 20s.
@@hacktivistdersibelius5106w1qèiiìiuueùùf7uf7⁸fģffđç⁸iìì !
Thanks to this video I now know who to blame for our crappy roads 😊
Not really. I don't blame an ink pen company for misspelling words.
yeah and I blame cows when I run out of milk
@@brandons2199 Same here.
@@markbrown2296 Im sure they're underpaid.
@@brandons2199 who else is there to blame?
Thank you for the entertainment and insightful content.
I just learnt asphalt can be recycled.
Interesting story. Thank you for your service!! From Detroit. G
Holy smokes $32 billion that’s a lot of money I guess these guys don’t want to have any flying cars or that’ll drop significantly😮
In Las Vegas Las Vegas Paving gets all the contracts. Such a scam.
You do know that all those companies CRH was compared to are owned by CRH. For a company raking in 100s of Billions from international governments yearly, they have extremely low profits. Also as they're registered in Dublin they don't pay any local taxes, another example of capital flight.
very well done CNBC, finally some good research and a great unbias report
You'd think if they really cared about the environment we'd invest more in trains, public transportation and the zoning laws.
They spent a good part of video talking about “recycling” the asphalt as if building concrete jungles is good for the environment, you’re 100% right man
public transportation, trains nor anything else besides a personal car, in no way shape or form, could get me or anyone I know around efficiently enough to keep this economy and country going!!! Funny how EVERYONE has the same answer, yea, Id love for everyone to live that close to their needs, resources and work. Sit back and use your critical thinking and you'll realize it just wouldn't work. And oh by the way, we can care about the environment all we want but the product we quit making because of the environment...is now made in Russia and China, because they don't care about the environment, net ZERO gain in saving the environment, pollute here or elsewhere, its still pollution.
@@southrichmondtoflLet me guess, you haven’t left the US and you think the US is best country in the world, and this generation is gonna doom us all, and you sit on the right? Your ignorance is beyond belief.
ruclips.net/video/REni8Oi1QJQ/видео.html
@@southrichmondtofl we managed it before with rail.
a big problem with roads is the seams between adjacent layers. they say they pave 20 feet wide. where i live they did a road in 4 passes . so the joint between successive passes ended up exactly where your right tire rides when in the left lane on a 5 lane road ( middle turn lane) . so after about 5 years there is a line of ruts and small potholes in a line all the way down the road where that seam was right where you right tire travels. they should have done the thing in 5 passes not 4 . but i'm sure the paving companies would charge more for that. i doubt the local dot engineers even thought about that.
I bet your right, not even considered at the time, and I'm sure they had observed that on other roads over the years. "Ahh, doesn't matter, we will repave in five years anyway." Nope, five years of "patches" to extend the "life" of the road before they considerer a total repave..
Same problem in Australia but opposite side. Our ripple strip's on Hways r different too ours are raised bumps not divots
They are a good example of big business for entrepreneurs.
Yes asphalt one of my biggest social concerns
👀 Visited & lived in a lot of countries (20+) in a couple continents. When I came back to the U.S. (6yrs ago), I saw-for the first time-how bad the roads were here in at least 15+ states.
🛣️ There’s too many examples to name, but the best roads I drove on were in Germany-not a single pothole ANYWHERE. Super high quality roads in Western Europe-they got it right.
🤷🏾♂️ I don’t know what we’re doing wrong here, but it seems intentional. Roads that need constant repair over a short amount of time seems like a racket.
Rico you're very right, They seems to focus only on the big state in the country, My local road here that leads to the highway is not in a good shape at all.
I was stationed in Mannheim, Germany in the early 90's and it's very true...the roads and streets over there are outstanding! But so are the roads in Belgium and The Netherlands as I often had to travel to those countries due to my military duty! The German Autobahn was awesome! No speed limit and very very little access between large cities! 💯💜🙏🏽
@@Biggsneeky I shutdown Mannheim & Heidelberg back in ‘12, & ‘13. Then they reopened Mannheim for “big body” transport. PHV is completely different now….but yeah…the roads are awesome there
@@DarlaShuttlesworth Yeah, I noticed that streets located in high profile areas have the best maintenance
Maybe build more trains. Bike lanes that can help. But more roads? That’s not going to help
bike lanes are a nuisance and impractical if a one way trip is more than 5 miles. freight rail needs to become more flexible before we can even have that discussion.
@@sioul8485I believe busses are far better than trains. Cheaper and much more flexible
@@agisler87 i believe both are better . Trains for long trips across the US and buses for common thinkings . Both can be used for work too.
@@sioul8485 ok 5 miles by bike isn’t a nuisance that’s a breeze . And going to groceries doesn’t take 5 miles where i live. Considering that cars now a days feel like an infestation because of to many cars on the road should be considered highly. I go to the grocery store with my bike and it’s insanely faster than a car. And just 2 miles away
Ban the use of studded tires. They damage road surface more than anything else when allowed.
What a great interview. You have now immortalized your grandfather. You will always be able to look back upon this story.
WHEN EVERYONE IS IN A STATE OF CONFUSION
THERE WILL ALWAYS BE A VERY IMPORTANT [KEY] APPEARING
WHETHER IT IS A NOBLE PERSON OR A LOW EBB EXPERIENCE BUT IN CONCLUSION
WILLINGNESS TO CHANGE WILL LEAD TO A BETTER DIRECTION
it's so wasteful and people don't really talk about the pollution to pave these roads constantly.
Yes, and now they want to add microplastics.
Amazing 50 - 60 yrs old!
What binder can replace petroleum in asphalt?
I've been in the belief that it's all a racket. Around here, asphalt gets laid or used to fill a pothole, and only a few weeks later the road is already bad.
I surely hope that at least 50% of that money goes to anything else besides car infrastructure!!
Cars are the reason for modern life. One of the greatest inventions.
@@Robert-cu9bm Sure, but let’s not prioritize cars 99% of the time. It’s bad is so many ways
CRH definitely has a powerful lobby in Virginia, they are always making roads or redoing existing roads.
This is a big promo CRH
Would help if local county and municipalities would make it easier for small companies to open new gravel pits and help those companies obtain performance bonds. That would slow down these large non American owned companies from monopolizing our infrastructure.
7:55 should be $960 million not billion
Beautifully shot and edited
I worked in the industry for decades. Much missing from this. The "binding agent" is a byproduct of refining crude oil into gasoline/diesel, etc. It is the 'tar' left at the bottom of the tank. It is generally just about given away it's so cheap. Where will this come from when electric vehicles are prevalent? Most of the highway grindings cannot be used over, only a small amount added or the mixture will not last.
CRH once established a branch in Belgium but it went out of business fast.
Reading the comments of people talking about how road's don't pay for themselves, it is true they don't directly pay for themselves but they are the most critical aspect of our entire economy. In the same way a runway doesn't pay for itself but the airport is useless without it. Without our highway and interstate system the American way of life would not exist. The rapid transportation of goods and people across the nation is everything to the American way of life. This allows us to shop online, have stores with pretty much anything we could want right down the street and of course gives us the freedom to drive to every corner America at 70 MPH.
Nobody likes paying taxes but it is the price of living in the nation we do with the Infrastructure we do.
yea, and we did that 100% better and more efficiently when we had more rail!
@@sirpieman300 Rail infrastructure is also essential but has serious limitations. If you need to transport large amounts of heavy cargo like timber, oil, coal or shipping containers long distance's then train is the way to go, thousands of tons of cargo can be moved a thousand miles with like a thousand gallons of diesel fuel. However to distribute the cargo from the trains to there destinations, takes trucks and roads. They all work together and each link in the chain is important, ship, plane, train and truck.
According to this piece of journalistic masterpiece, CHR is planning to distribute 960 billion USD (with a B) in dividends in year 2023 alone (time mark 7:54).
I love stuff like this!
The best thing CRH could do to set themselves apart from competitors now that they have the wiggle room of vertical integration/strong margins is investing in sustainability. Recycled asphalt is great, but how about solar fields on their leased but unused parts of quarries/cement mixing facilities? How about exploring all-electric heavy field equipment with AC or DC tethers like Scandinavia? Mining equipment? Once they can demonstrate their scope 1, 2 and 3 emissions are lower than all their peers - they will DOMINATE their competition on federal contracts - and those competitors that are late to the transition will have to pay premiums to stay above-board on future bids now that these contracts include factors for sustainability and GHG emissions. Assuming they steer clear of obvious anti-trust laws, they could ‘cement’ their legacy as a key stakeholder in american infrastructure forever. The other analysts and I will be following their next moves closely.
Private companies should form in every major city and do what Brightline in FL is doing. Start connecting the cities internal to the state and then eventually connect the states to states and then coast to coast. Cars are just going to destroy the roads, and these companies know that this is just job security for them constantly having to repave roads on a 5-10 year cycle is just burning taxpayer dollars and they are just raking in the money.
I lived in Germany ten years and they tear up a long swath of autobahn many kilometers and do a two way on one side and rebuild the highway. Why not do that here in USA traffic will just move slower. I saw that being done in the state of Iowa some years back when they were redoing I-29, looked like a good job when they finished.
Wow Michigan use 50% of asphalt 😮 I just learn something new.!!! Ty CNBC
Absolutely mond blowing
mond blowing!!
Basically, legal corruption. Funneling money up to 10-15 execs. While workers barely get medical insurance.
And the dems claim to hate that.... then steal 1.7 trillion dollars from us to give to the mega rich cooperations.
The "okie dokie" continues LOL
Didn't Obama cover your medical?!
@@markbrown2296 , Imagine he didn’t?
@markbrown2296 no...that's not what obumacare was.
Obumacare was for people NOT working, i.e. the welfare community. If you had a job, and couldn't afford the outrageous insurance, you got fined on your taxes.
CRH actually offers really good health insurance plans for it's employees, so before making such comments actually do some research.
This is what we called a band-aid solution. The government pays a bunch in highway accident settlements instead of using these settlement funds to update our roadways
I would like to see better studies and efforts made on preservation methods. What is the best methods for conserving AC roadways and by that I mean the ones still in good shape. On a busy freeway 5 yrs into a newly laid RW what preservation method should I begin to look at? I hear good things about micro seals…and that FOG seals claim to rejuvenate but do they really? What is the best for both traction and preservation?? We lay these asphalt RW because they are cheaper but some states make no efforts to preserve them. Preservation is cheaper, prolongs repaving, and reduces maintenance efforts.
Someone correct me if I’m wrong but from my recent long stay trip in Japan, most of my time was driving within the main city of Tokyo. My mind is focusing mainly on how smooth the roads all over as whole, now a statement is forming within my question. But the roads are not without its faults. I would observe a roadwork construction not to fix the but to dig up and repair or upgrade underground pipes, …i.e. water, gray and storm drain. Here it comes the overnight road decimation would show almost no visible evidence the next day. If I didn’t frequent a late night urban walk around the neighborhood you’d never know what the night before, but in America road work repair or construction would be drawn out for lengthy periods seaming never ending. Remember Japan 13:54 is a small nation but Tokyo is the largest heavy dense industrial, commercial and residential projects moving efficiently throughout the population along with a seasonal climate of extreme weather fluctuations while being in a very active earthquake zone on the edge of the Pacific ring of fire, while within the interior of the North America continent we’re constantly perpetuated into roads and infrastructure always in need of some extreme attention forever tied into a necessary cost.
They have fewer roads per capita and less per capita driving. Plus smaller vehicles which damage roads exponentially less. Therefore the backlog of damaged roads to repair is much less and they have the capacity to keep up with it. Not enough people use rail and buses in the US
@@weenisw I get that concept from the get go, after all I use to work for a international construction company. But I’m left asking how do they achieve such high quality of servicing maintenance that leaves no trace of work was ever conducted. If I didn’t take that late night walk through the city I wouldn’t have noticed that every single brick that was on the on the walkway path was meticulously replaced. Let’s just say the next morning, I started to look around for the concealed entrance to
Train Platform 9¾, because to my eyes it appears that the grout lines were untouched. 🤷🏾♂️
You do realize Japan is not only a small nation but people only live in a very small portion of a small country whereas the US is spread over 3 million square miles. You're literally comparing a grape to a watermelon. Many of the US "problems" come from being a nation with the best geography on the planet and a million different places for people to live. For Japan what you perceive to solutions come from a nation not having to maintain a super massive network and a condensed area winch allows more resources to he distributed across a smaller geographic area, giving the impression of better maintenance.
Americans: I love my trucks
European: aren't roads falling apart because they are paid by the gas tax that hasn't been raised in 3 decades
American: CONSPIRACY!!!
But see, big trucks handle rough roads alot better than the bicycles with a surround that are all over Europe.
Minute tin cans in europe can't handle anything except pristine asphalt....maybe that's why the economy has been so bad there, spending too much on roads for toy cars !
I'm a road worker... and it's both. We like heavy vehicles, and they are all getting much better fuel mileage than they used to. So they are paying less taxes and vehicles are heavier. A Ford F350 weights 8300 lbs (3764 kg)
A 30 year old Ford pickup weighed half.
People would save money paying a little more in fuel tax.
Rough roads cause damage to vehicles which are expensive to repair.
Pay for smooth roads or vehicle damage. That's the choice.
@@John-ir2zf The European economy is not bad at all as a whole the European economy is one of the biggest considering there are multiple countries who all speak a different language and their own way of doing business, some places in Europe have pristine roads (Germany, Spain, France) the majority of major roads in Europe are kept in excellent condition its when it comes to small 'urban roads' which are under control of council do issues arise, especially in the UK has the government for past 12 years has cut council budgets and pushed road maintenance into private sector (paid for by public purse) who do an awful job instead of council having their own road maintenance gangs.
The most American and arrogant statement I've read in a long time.
@@TheBandit7613 yeah, all that's pretty bad for our roads
Saw w diagram breakdown the cost and a 10% increase in weigh increases cost by 60-100% more
Then I saw that a "Fat guy on a bike" (350 pounds) was not 1% not 0.1%.. but 1/2 of 0.1% as much cost as an average vehicle (4000 pounds)
Compared to average:
RAV 4 is 3,550 pounds 62%
Prius 3050 pounds 34%
Smart car 1,800 pounds 4%
And
Chevy Tahoe 5,500 pounds 357%
@@John-ir2zf The economy is not bad in Europe. The economy is bad in america.
A waiter in Europe can afford a two-bedroom apartment and they only work 27 hours a week to do so.
This is because of Europe having the strongest unions in the world.
You think McDonald's couldn't afford $15 an hour, and then the pandemic has everyone leaving, then they raise their pay to $14 an hour.
All these companies have enough money to pay their employees. It's just that all of it's going to the top because America doesn't happen means and if they do they aren't strong.
Companies like this are paving the road to a better future for cars
On the 8 minute mark your maths goes completely wrong. 960 billion plus 2.55 billion does not equal 3.51 billion. I thought this was journalism?! Get your facts right
there are cheaper forms of traffic than the system car road. So from a cost basis you should try and build the infrastructure to get traffic away from cars.
The company will take money from the govt and give it back to shareholders, the roads will still be full of potholes
New subdivision streets are made out of concrete for the past 28 years in my region. Plus every Boulevard is 3 lanes concrete surface.
Only old neighborhood streets are asphalt made .
I think: concrete it’s the way to go . Asphalt needs to replace more often and I believe the industry is corrupted. why ?? The roads won’t last .
If someone founds asphalt mix that last 60 years at Finland's road, it would be great. I think main road's last max 5 years, it depend from how structure has made and how bad winter's are. Salt use hardens or broke those small stones in mix to smaller, there's no then anything between those small craks and icing make it worse.
It's just what it is and new black is rolled again and again. Sometimes those last better and sometimes stuff looks like rolling away under trucks load and same time next winter will begin start. Cement have even more hard times if it cames contack with tyre's that have small metal 'spikes' that are common in winter, at least if you don't live middle of Helsinki, there's some 20% uses those, than overall has been some 50% in country.
You could left road with same asphalt over 10 to 20 year's, but then it's better to remove it overall and turn back sand. That happens sometimes small roads, in future will happen even more, if something new ideas dosen't show.
Some small town or city will 'dry' if one or few biggest factories go down, move or something similar happens. Then maintain even road's could be out of sense, so critical's those thing's are. So at least I don't need more chinese products and materials. Those have second price after buying, even third, when these fail too early like ASPHALT..
And those waste cannot melted and mixed in road's even :p
And yet we STILL don'[t increase the fuel tax. Hasn't changed since the mid '90s. And in the same breath we'll complain about road conditions AND that the tax should not be increased.
There's plenty of money, the problem is 90% going into executive's pockets.
@@rwdplz1 I'm sure execs are taking a large piece, but certainly not 'plenty of money'. At least not without taking it from other places. They're still fuel taxing at 1993 rates. The purchase power of a dollar has dropped over 50% since '93. So those funds buy only half of what they used to.
yes we should increase gasoline taxes . not diesel . increasing diesel taxes just raises prices of everything we buy.
@@JT_771fuel prices are high enough the way it is. If you want to commit political suicide you’d raise those taxes.
@@specialestness While this is true, it isn't like this is only recently the case. It's been since '93. With plenty of 'low prices' in the interim ... yet no action. People freak out at the idea of more tax there ... but also get ticked at road conditions. Doesn't work.
4 billion dollor can build the cross country highway in China streaching thousands of miles, whereas it can only patch 10 mile road in US.
China has concentration camps. Don’t compare us to China
Thanks for paving our roads, I love to ride my 5.0 on this roads
I like American Asphalt, because their "roadway" logo is so cool.
🪄✨ Made with SummarizeYT
0:04 - CRH is the largest road paver in America, generating $32.7 billion in 2022.
0:32 - The U.S. government is the largest buyer of asphalt in the country from companies like CRH.
1:43 - Asphalt, a flexible material, is 95% recyclable and 65% of the asphalt industry's business comes from publicly funded contracts.
2:57 - The Biden administration is prioritizing combating climate change by purchasing materials that demonstrate lower carbon emissions throughout their life cycle, and the industry is touting asphalt as a solution.
5:27 - The Infrastructure Investment and Jobs Act expanded federal funding for road and bridge construction to $360 billion over five years.
6:07 - CRH's road paving business made up half of its North American revenue.
7:54 - CRH plans to distribute $960 billion in dividends
8:12 - CRH has a loadout screen to control all three scales for the trucks they ask to come
9:20 - CRH being a supplier and builder at once can protect it
12:17 - Asphalt laboratories are exploring higher performing binders and testing recycled plastics
15:22 - Building longer-lasting roads is one of the best sustainability and long term cost-saving measures.
Very nice
Building rail not roads is more sustainable and cost saving long term.
Crazy how what are essentially monopolies are selectively allowed.. We need to be building more railroads, bike paths walkable neighborhoods.
Trains would be so much more cost efficient and result in better cities and less traffic. When will we learn?
LoL....would NEVER work
It probably won't be in our lifetime that we would truly see a modern railway network we desperately need
@southrichmondtofl Why not?
NJB has a vid for that: ruclips.net/video/REni8Oi1QJQ/видео.html
I live in one suburb and commute to another everyday. What train would I take? I live in Maryland between Washington DC and Baltimore. I live a 20 minute drive to each and I never go there. Everything in my life is in the suburbs till I escape the area and out to the countryside. Trains will never work because you have no density in USA. I lived in Japan for 8 years, never owned a car there or needed one. Took the trains everywhere. The density of their towns has to be a least 20X ours. High rise apartments. houses almost touching. Here I live on 1/3 acre plot for my 2000Sq-ft house with a 750 garage attached in a very leafy neighborhood. Japanese "bedtown" houses are at the most 1200sq-ft 3 stories so the footprint is smaller than my house. no yard or green stuff of any kind, the neighbors house is 1-2 meters away. no sidewalks just 1-1/2 lane road. People will often have to stop between the power poles to let the other car pass. "Train land" looks very different than "car Land". Adding trains to American Car land is a waste of time and money and will not be used by most of the people. Yes NYC and a coupe other big towns can work because they have massive density, but that's not most of the USA
70%of US road is in not bad condition.
That’s impressive.
In western Canada, the two asphalt companies we work with call asphalt ( Black Gold ) 🤔
We need to stop investing in roads and car infrastructure. It’s an endless money pit
We need to stop investing in military. It's an endless money pit because in the end people are getting poorer
cars provide so much freedom versus the stinky subway.
@@blipblop92 then build a nice and fast subway?
@@roxx5162The freedom to… be forced to drive a car with all kinds of costs imposed on you?
@@LucidFLthe freedom to not have to rely on a system of public transportation. With a car you can go where you want, when you want. I don’t know why you guys insist on making everyone reliant on the system.
Some of this footage is from Tilcon Connecticut in New Britain. Very cool!
What is also not mentioned is the percentage of federal and state motor fuel taxes dollars the are directed away to pay for transportation project that motor vehicles can not use.
Excellent work cnbc