Going forward he shall be known as Diesel Don for driving the price of US diesel to historic highs.
Trump has thrust America into another crisis as the national average for diesel prices have surged to record highs of $6.29 to $6.40 per gallon.
The surge is driven by geopolitical supply shocks, thanks to the Trump/Epstein war in Iran. As a result, there's been a tightening of global distillate inventories. Energy experts are warning that those costs are likely to climb in the days ahead amid festering geopolitical conflicts overseas.
Warning bells are ringing for all Americans who better be prepared to recognize that inflation is likely to get turbocharged by these high prices. Simply put, everything that moves around the country and all crops are dependent on spending money on diesel fuel.
Signs that we are already in a crisis mode - like in the Midwest which is getting particularly hard hit after an ExxonMobile refinery outside of Chicago had to halt production for several hours following a power outage - are occurring daily.
In response to the historic diesel hikes independent truck drivers and owner-operators are threatening a nationwide strike as early as next week. Small fleets and owner-operators are facing immediate threat of bankruptcy. Red lights are flashing in our vital transportation sector.
Truckers are frustrated by the lack of government intervention.
The fact of the matter is commercial trucking is the backbone of the domestic supply chain. If there's any prolonged work stoppage or on-going mass exodus of drivers could quickly lead to:
* Severe, immediate food shortages at grocery stores.
* Inabilities to deliver perishable produce and essential medical supplies to hospitals and schools.
* Drastic retail price increases passed straight on to the consumers on everyday goods like clothing, electronics, and building materials.
As it Stands, lack of diesel supplies arrives at the same time as the price of gasoline is skyrocketing. I'll discus the gas shortage in my next post.