President Trump reversed President Obama’s approach to offshore drilling expanding areas that can be explored and developed for oil. Not so fast said the courts. A president can make the executive orders BUT there is nothing that says he (or she) can rescind them. The constitution gives Congress the right to make laws but is silent on its ability to rescind laws. But they do and nobody challenges it. With oil prices over $60 barrel – Iran out of the picture and Venezuela a basket case – we may need those reserves.
- Cass Freight Index fell for the 4th consecutive month
- Old Dominion (a very profitable LTL carrier) showed 9.6% higher pricing year over year and a 20% growth in earnings on a 7.1% growth in sales
- Tractor sales down 66%