Trucking Industry/US

How Long Will The Price of Oil Remain This Low?

Sorry to be the bearer of bad news to you, but the transportation industry is taking such a huge hit due to the economic breakdown right now, that trucks are just sitting everywhere. This being said untill the transportation industry picks back up to at least 75% of where it was this time last year we will not see the price per barrel increase. Incase any of you are interisted, If the trucks are not moving, they are not buying the fuel, and there is no demand. Reason for this, People are scared of a depression and they are not buying at the stores, End result is, nearly 50% less from this time last year is being shipped over the road.

Thank you,
The Trucking Industry.


On Dec 03 07:57 AM mangolfer wrote:

> I'd estimate 24 months for oil to get back above $80, too much economic
> damage out there now and continuing for the near term...