As of last Monday, the cost of diesel was $1.94 higher than it was a year ago “which is significant,” Todd Spencer, President of the Owner-Operator Independent Drivers Association told Yahoo Finance.
“For our guys, the majority of truckers will burn between 18,000-20,000 gallons of fuel a year. So looking at those costs, you’re talking about $90,000-$105,000 a year just on fuel,” he added.
Most “goods are hauled around the country by truck and rail using diesel fuel to power their engines and diesel prices are going up more than gasoline prices,” strategist Andy Lipow wrote in a recent email to investors.
“Fed Ex (FDX) UPS (UPS) and Amazon (AMZN) delivery services are all being impacted by the soaring diesel prices, and they eventually are going to have to raise their rates,” he added, Yahoo Finance reports.
Independent trucker Michael Whitaker says he remembers the gas crisis of the 1970s and the recession of 2009. He’s afraid that some owner operators won’t survive with costs so high.
“I think we’re going to have a lot of bankruptcies of individual drivers, trucking companies,” Whitaker told Yahoo.
“If you don’t manage your money, you ain’t going to be in business long,” he said. “When things get rough you’ve got to have enough money saved up to hold you up through the rough times.”
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The Importance of Prayer: How a Christian Gold Company Stands Out by Defending Americans’ Retirement
This has been the Democrat’s Goal all along, destroy the Middle Class so there is no opposition to Big Government and Big Business. The Government will replace the Independent Trucker with Big Contracts to Big Business Truckers. The Money will flow only to the rich and powerful. We will get only what the Government decides we can have and that will be dictated by Our Social Score.
Well that’s the Biden administration’s plan, isn’t it? Destroy small businesses leaving only union companies and big corporations.
Perhaps it’s time to dismantle unions and big corporations?
Well, that’s this administrations plan, isn’t it? Destroy small businesses so union companies and big corporations are all that’s left.
Perhaps it’s time to put an end to unions, and break up the corporate monopolies?
O/T-The ECASH Act is co-sponsored by Rep.’s Jesús G. “Chuy” García (IL-04), Rashida Tlaib (MI-13), Ayanna Pressley (MA-07), and Alma Adams (NC-12) of the Committee on Financial Services, and endorsed by Americans for Financial Reform, Demand Progress, the Action Center on Race and the Economy (ACRE), and Public Money Action.
The bill directs the Secretary of the Treasury to develop and pilot digital dollar technologies that replicate the privacy-respecting features of physical cash, in order to promote greater financial inclusion, maximize consumer protection and data privacy, and advance U.S. efforts to develop and regulate digital assets.”
O/T-Breaking-2 Hours Ago-Russia will accept Euros and convert them to rubles at the Gazprombank. (H/T-NF)
Also just read at a Russian page (thoughtcrime) that Germany has the highest energy prices in the world as of March 2022.
Bermuda, Denmark, Portugal, Belgium are the top five. (H/T-AM)