The use of energy by the major modes and the environmental impact of freight transportation is a problem of increasing importance for future transportation policies. This paper aims to study the relative energy efficiency of the major transport modes, setting up an impartial analysis, improving previous literature substantially. Gabrielli and von Karman have studied the relationship between speed and energy consumption of the most common transport modes. From this pioneering activity different methods for evaluating the energetic performance of vehicles have developed. Initially the maximum vehicle power and theoretical performance limits have been calculated in terms of weight and payload. Energy efficiency has then been evaluated in terms of the first principle of thermodynamics as the mass of the vehicle times distance moved divided by thermal energy used. A more effective analysis can be performed both in terms of vehicle life cycle and in terms of second principle considering the quality and the amount of dissipated amount of useful energy. This paper defines an LCA based model, which could allow an effective comparison between different transport modes classifying them in terms of exergy destruction. In this case, an effective comparison, which considers the quality of used energy, can be performed allowing precise politics for a future more effective evaluation of the transport modes.