Tag Archives: U.S. and global economies
Why every American should care that diesel prices are surging across the country
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. Today’s truckstop retail diesel prices hit a new record of $5.32/gallon. 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. Trucks use it to haul our goods across the country. Of all Class 8 trucks (the big ones), 97% use diesel. A world without diesel would mean that our grocery stores and restaurants would run out of food, retail store shelves would be empty, and hospitals would run out of medical supplies. But that is just scratching the surface. Farmers use diesel to power most of their machinery. Nearly every fishing vessel around the world uses diesel for power. Without diesel, our fishing food supply chain would collapse. >click to read< 17:39
