On today’s episode, Dooner and Prevost throw you in headlong to a brand new week with truckloads of volatility and heavy-duty headlines.
First, another state wrangles with their own tolling approach to paying for deteriorating highway infrastructure. In this case, state legislators in Connecticut want tractor-trailer trucks to do the heavy-lifting. They have scheduled a vote for February 10 on the controversial plan. Meanwhile, the American Trucking Associations (ATA) is locked in a battle with the state of Rhode Island over its truck-only toll plan. They call truck-only tolls discriminatory and in violation of federal regulations. Owner-operators say such costs will be passed on to their customers.
A jury delivers a Texas-size verdict of $7.4 million in damages to a man who was injured from metal debris when a truck driver hauling an oversized load veered off route for about 13 miles and struck a bridge. Even Better Logistics was unwilling to settle for $750,000, and ended up owing nearly ten times the amount by letting the case go to court.
Meanwhile, freight forwarders and shipping lines are keeping operations to a minimum as the 2019 Novel Coronavirus spreads. The World Health Organization said the confirmed death toll in China has now risen to 427 as of the release of this posting. All but two of the deaths occurred in mainland China.
The Coronavirus is also haunting the oil markets. Prices are volatile and threatening to fall beneath the $50 per barrel threshold. Craig Fuller fills us in on why the volatility is happening, how it impacts global and U.S. supply and demand, and the best sources and methods for tracking this developing situation.
Donny Gilbert and Dooner cross swords with an epic Market Expert Trivia battle that comes down the final True or False question on everything you didn’t know about the Coronavirus and were afraid to ask. Who will be quickest to the button this time?
Chad Boblett of Rate Per Mile Masters fame talks trucker health. In particular, we learn about the health benefits of fasting for short and long durations. He tells us his experience first-hand of what it’s like to complete a 21-day water-only fast.
J.B. Hunt’s, Jose Socorro, talks about personal branding, how less is more, the art of punching up, and the thrill of public speaking.
The Coronavirus even spreads into the Big Deal Little segment, like how it’s taking a bite out of Apple in China for at least another week. But wait, there’s more! IKEA is digitizing its meatballs, Trader Joe’s may or may not come to Chattanooga depending on how many Ph.D.’s exist per capita, avocados are “green gold” in Mexico in part because Americans just can’t get enough. Finally, does Dooner or Prevost win the final stretch on determining just how big of a deal was it that the Chiefs won the Super Bowl for the first time in 50 years?
DID YOU KNOW?
The state of Georgia needs to spend between $3.4 billion and $4 billion a year over the next 30 years to move freight efficiently through the state without adding more congestion to metro Atlanta roads, according to a report by a special state commission.
And as always, thanks for tuning in to the What the Truck?!? community, and for helping make us a top-20 podcast in Business News on iTunes!
Check out the video above, or run some errands and get jacked at the gym and listen to us anywhere podcasts are heard around the world right here! And at Apple Podcasts or Spotify.
And check out what our sponsor, Redwood Logistics, is up to.
Noble1 suggests SMART truck drivers should UNITE & collectively cut out the middlemen from picking truck driver pockets ! IMHO
Meanwhile !
Quote:
Feb 4 2020
“Brent crude has fallen by around 20% since early January while the US benchmark oil contract, WTI, has fallen by around 18% over the past month.
Saudi Arabia, the world’s top oil exporter, said this week that the impact of the virus on oil demand was “extremely limited” and “driven by psychological factors”. ”
Quote:
Feb 03, 2020
“China’s refiners are awash with an oversupply of refined petroleum products—gasoline, diesel, and jet fuel”
Now let’s go back to early December 2019 BEFORE all the coronavirus mainstream media and what the IEA has to say .
Quote :
“IEA: An Oil Glut Is Inevitable In 2020”
“Despite the OPEC+ cuts, the oil market is still facing a supply surplus in 2020, according to a new report from the International Energy Agency (IEA). ”
What about in September 2019 ?
Quote:
“The world’s oil glut is much worse than it looks — and Saudi Arabia can’t fix it on its own ”
And January 16 2020 ???
Quote :
“Oil Glut Overshadows Geopolitical Risk In 2020
Iran Regime Change Could Push To $40 Oil
Putting aside the geopolitical risk, the agency said that prices will likely remain subdued this year because non-OPEC supply continues to grow faster than demand. Non-OPEC countries will add 2.1 mb/d this year, while demand will rise by 1.2 mb/d.
January 15 2020
Quote :
Iran Regime Change Could Push To $40 Oil
So is the coronavirus the reason why oil prices have decreased ? I beg to differ . Oil prices began to fall and then the coronavirus hit mainstream media , and mainstream media began linking the fall in oil prices to the coronavirus .
Now read carefully from the World Health Organization below !
Quote:
“On this website you can find information and guidance from WHO regarding the current outbreak of novel coronavirus (2019-nCoV) that was first reported from Wuhan, China, on 31 December 2019. Please visit this page for daily updates.”
End quotes .
So the coronavirus was first reported from Wuhan China on December 31st 2019 , However Oil prices , the Hang Seng ,and the Shanghai composite continued to RISE in price ! How come ??? Because it didn’t have the slightest effect contrarily to popular opinion and what you’re being told !
NOW , since the infected have increased tremendously and the death count has risen tremendously according to recent reports , WHAT HAS OCCURED WITH OIL PRICES , THE DOW JONES , S&P 500 , NASDAQ , THE HANG SENG , & THE SHANGHAI COMPOSITE ???
THEY’VE ALL INCREASED IN PRICE !!! How come ???
LOL !(wink)
In my humble opinion ……….
Noble1 suggests SMART truck drivers should UNITE & collectively cut out the middlemen from picking truck driver pockets ! IMHO
OK I’ll tell you why .
Because when it comes to fleecing , WALL STREET & MAINSTREAM MEDIA ARE NUMBER 1 BAR NONE !
THEY ARE BOTH LINKED AT BS JUNCTION GALORE ! That’s why !
The trucking industry is number 2 , PUN INTENDED , LOL !
In my humble opinion …………