Diesel hit a record $6.
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TFTC
Truth for the Commoner. A media company focused on #Bitcoin, freedom, and truth in the digital age.
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Diesel hit a record $6.51/gal nationally today.
That matters because diesel moves goods and runs the heavy equipment you need to build things. Hard to get excited about reindustrializing the country while the fuel bill for doing it keeps climbing.
But a few data points are getting lost in the supply shortage fear.
Venezuelan crude imports hit their highest rate since mid-2017 at 782,000 barrels/day. Gulf Coast refineries are well-suited for that heavy crude. More oil is also getting through Hormuz than headlines suggest, with flows near 12 million barrels/day.
The real question is duration. How long can diesel stay this expensive before it undermines the industrial growth we need?
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