by To many Americans (including politicians), diesel prices are so removed from their version of reality that they often dismiss the importance of diesel to the U.S. and global economies. However, diesel is the fuel that drives the economy and leaves major industries vulnerable to cost shocks. Without diesel fuel, the U.S. economy would collapse in a matter of days. Our supply chains would completely shrivel, almost overnight....Since diesel powers the industrial economy, the recent surges in prices will put additional inflationary pressures on the U.S. economy – in the sectors that have already experienced unprecedented inflation – transportation, agriculture, and construction. But this may be less damaging than demand destruction that may come along with price surges, especially in
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Robert Vienneau writes Austrian Capital Theory And Triple-Switching In The Corn-Tractor Model
Mike Norman writes The Accursed Tariffs — NeilW
Mike Norman writes IRS has agreed to share migrants’ tax information with ICE
Mike Norman writes Trump’s “Liberation Day”: Another PR Gag, or Global Reorientation Turning Point? — Simplicius
To many Americans (including politicians), diesel prices are so removed from their version of reality that they often dismiss the importance of diesel to the U.S. and global economies. However, diesel is the fuel that drives the economy and leaves major industries vulnerable to cost shocks.Without diesel fuel, the U.S. economy would collapse in a matter of days. Our supply chains would completely shrivel, almost overnight....
Zero HedgeWhy Every American Should Care That Diesel Prices Are Surging Across The CountrySince diesel powers the industrial economy, the recent surges in prices will put additional inflationary pressures on the U.S. economy – in the sectors that have already experienced unprecedented inflation – transportation, agriculture, and construction.
But this may be less damaging than demand destruction that may come along with price surges, especially in transportation and construction....
Why Every American Should Care That Diesel Prices Are Surging Across The Country
Craig Fuller, CEO of FreightWaves