Rising Oil Costs Hit Nation's Truckers
CBNNews.com
May 6, 2008
CBNNews.com - With diesel prices well past $4 a gallon in most of the country, the nation's truck drivers have taken a hit.
Today, energy experts testified on Capitol Hill about how the price of fuel is taking profits away from truckers, even forcing some to lose their trucks.
Analysts say market uncertainty and high demand in developing countries are pushing energy prices through the roof.
"Unfortunately for the American economy and the American driver we ain't see nothing yet," said Tyson Slocum, director of Energy Program for Public Citizens. "I think prices are going to continue to escalate until we restore some transparency to these energy trading markets."
Today, the price of oil crossed $122 a barrel for the first time. One analyst at the hearing predicts it could rise to $200 before this year is over.
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