Rush Hour and A Glut of Oil

Discussion in 'Current Events' started by Annie, Mar 8, 2009.

  1. Annie
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    Annie Diamond Member

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    On another thread I noted that rush hour seems to be getting lighter and lighter. I'm quite certain that's tied to rising unemployment. What I failed to connect was the many fewer trucks too. Perhaps my mind didn't want to consider the implications of that. Anyways, the 'silver lining' or perhaps a cloud?

    Oil producers running out of storage space - Oil & energy- msnbc.com

     
  2. Missourian
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    Missourian Gold Member

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    Freight is absolutely scarce right now. My trucks were regularly running 3000 miles a week have been averaging less than half that for the last 4 months.

    My shippers have also reduce freight rates as truckload cartage is at a premium. Many trucking companies are undercutting the already reduced rate to keep their trucks rolling just to stay afloat.

    Three of my drivers have been forced to quit. They are paid by the mile and obviously less miles means less money. They moved to what they perceived as greener pastures, the mega-trucking companies like Schneider (the orange trucks) and JB Hunt.

    I don't blame them. Ya gotta do what ya gotta do when times get tough. I have not tried to replace them. I just mothballed the trucks for brighter times. Luckily we pay cash for our equipment so while not an optimal situation, we aren't struggling. Mothballing those trucks has allowed us to increase the mileage for our remaining drivers. Companies with equipment payments are not in a position to allow trucks to sit idle, as parked equipment is a financial black hole, and believe me, we are the exception, not the rule.

    Trading equipment in on new equipment on a 3 or 4 year cycle has become the industry standard (keeps it under warranty). If things keep going the way they're going, you will see a lot of small and midsized trucking outfits disappearing. There's only so much room at the table right now, a situation not seen in freight cartage since deregulation.

    I'll post the link to the tonnage per month and year shipped by truck. That will be one of the best indicators that the recession has bottomed.
     
  3. Missourian
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    Missourian Gold Member

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    Here's the link to this article - http://www.truckline.com/pages/article.aspx?id=471/{8E1C7279-ED27-4C03-B189-CEEEE26BBB12}

    The tonnage chart is at the bottom of the page.
     
    Last edited: Mar 8, 2009
  4. waltky
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    waltky Wise ol' monkey Supporting Member

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    Would imagine the Russian economy is suffering as well...

    Oil prices fall as OPEC squabbles over output targets, crude stocks swell
    Wed Feb 24, 2016 - Oil prices slid on Wednesday, extending sharp falls from the previous session after top exporter Saudi Arabia ruled out production cuts and industry data showed a further build in U.S. crude stockpiles.
    See also:

    Asian shares, oil retreat as Saudi plays down output cuts
    Tue Feb 23, 2016 - Asian shares fell on Wednesday as oil prices skidded after Saudi Arabia effectively ruled out production cuts by major producers anytime soon, sending investors into safe-havens such as the yen.
     
  5. RoshawnMarkwees
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    RoshawnMarkwees Assimilationist

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    Good thing we're not Russia.
    Grocery prices are dropping, too. Awesome! Getting back to that affordable budget that Obama screwed up.
     
  6. TheOldSchool
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    TheOldSchool Diamond Member

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    damn nigga
     
  7. waltky
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    waltky Wise ol' monkey Supporting Member

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    Uncle Ferd likes watchin' Miss Sarah...

    ... do her hoochie-coochie dance.
     
  8. RoshawnMarkwees
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    RoshawnMarkwees Assimilationist

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    He ain't a nigga. He's more wigger.
    His absentee daddy was an african national. Obama is a nigga wannabe like eminem.
     

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