President Trump recently threatened to tax, nearly $300 billion dollars of Chinese products, by 10%. The already volatile oil market, seems to have room for some extra volatility. The volatility would largely cycle around China’s response to the U.S. tariffs. If China responds by purchasing oil from Iran, analysts speculate crude could rapidly approach $30 per barrel. Trump could impose the sanctions on the Chinese imports as soon as September 1st. Trump also threatened that he could raise the tariff, if no progress has been made towards a trade deal.
Governor Wolf is attempting to “clean up” Pennsylvania’s emissions. His new Executive Order will require 25% of government vehicles to be replaced by electric vehicle by 2025. The big push for this change is mostly financially motivated, as it is projected to gain the state just under 3 billion dollars in subsidies due to a reduction in vehicular and greenhouse gas emissions. Major cities such as Pittsburgh and Philadelphia are doing their best to stay ahead of the curve. Other benefits include lower greenhouse gas emissions and a speculation that respiratory disease might be reduced.
Encyclopedia Britannica defines VLCCs as, “Very large crude carriers. These ships, with a length of some 330 metres (1,100 feet), have capacities between 200,000 and 320,000 dwt (Dead Weight Tonnage). They carry in the area of two million barrels.” Historically these enormous ships carry crude oil around the world including imports into the United States, but until recently the United States Gulf Coast petroleum terminals were too shallow to accommodate these vessels.
FedEx, DHL, U.S. Postal Service and UPS have some new competition for last-mile delivery service. Amazon announced last Thursday that they are launching a new Delivery Service Partners program. Designed to let entrepreneur run their own fleet of Amazon vans with the Prime logo. Each delivery van will start at one of the 75 current Amazon stations throughout the United States.