During a seminar held by Bibby Financial Services at the Mid-America Trucking Show in Louisville, KY on March 28th, information was presented from a survey that was gathered from 250 small to mid-sized trucking businesses.
China and India have had considered on creating a “club” which will negotiate better prices with oil exporting countries and will be looking to import more U.S. crude oil in order to reduce OPEC’s sway. Two of the world’s largest oil importers, second and third respectfully, have exchanged senior level visits several times to discuss the premiums placed on oil sold to Asian nations. India, which imports more than 80% of its oil requirements, has seen oil prices increase to more than $75 a barrel.
The American Trucking Associations (ATA) estimated that there are roughly 500,000 over-the-road for-hire truckload drivers in the U.S. The ATA also estimated that segment of the industry is currently over 50,000 drivers short, and that number is projected to balloon as high as 175,000 by 2026.