American Trucking Associations and the entire trucking industry began a weeklong celebration of the 3.6 million professional truck drivers who deliver America’s freight safely and securely every day. ”This week is a time to remind the public of the debt of gratitude owed to these unsung heroes,” said ATA President and CEO Chris Spear. “At a time when confidence in our national institutions sits at a low, and crises of leadership have seemingly become the norm, I’m pressed to find a group of Americans more deserving of our appreciation and respect.” National Truck Driver Appreciation Week, September 12-18, provides the trucking industry an opportunity to formally recognize the efforts of professional truck drivers. State trucking associations, industry suppliers, law enforcement, and motor carriers of all sizes from coast to coast are set to host appreciation events for the men and women who safely deliver 72.5% of the country's total freight tonnage.
The global oil benchmark flirted with the $80-a-barrel level again on Tuesday, underlining concerns that an unexpectedly strong crude rally could eventually begin to weigh on economic growth.
The combination of renewed U.S. sanctions on Iran, potential sanctions on Venezuela, a rising geopolitical risk premium, strong demand and other factors have made talk of $100 crude sound less outlandish. Indeed, some analysts argue that the backdrop now leaves the market more open to potential price spikes.
So what if oil did climb back to triple digits for the first time since 2014? Economists led by Arend Kapteyn at UBS laid it out in a wide-ranging note on Tuesday.
In it, they observe that the rise in Brent LCON8, -0.75% from around $60 a barrel a year ago to close to $80 makes for the 11th largest price spike (see chart below) in 70 years (crude’s initial 2017 jump ahead of a February pullback was the 10th largest). West Texas Intermediate CLN8, -0.65% , the U.S. benchmark, was trading below $73 a barrel Tuesday afternoon.
details at: https://www.marketwatch.com/story/oil-shock-heres-what-100-crude-would-do-to-the-economy-2018-05-22