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Supply
Chain by the Numbers |
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- June 21 , 2012
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US Manufacturing Wages; FedEx Sees Changing Global Transport Market; Oil Prices in Freefall; Another Suit Against Rail Carriers Says They Overcharged Billions
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$6.4 Billion |
Amount the American Chemistry Council says US rail carriers overcharged all shippers for fuel surcharges from 2003 to 2007, relative to a new lawsuit by eight shippers against four rail carriers -BNSF, Union Pacific, Norfolk Southern Railway and CSX – over the matter. The eight shippers alleging collusion by the rail carriers on fuel surcharges are Olin, US Magnesium, Dust Pro, Carter Distribution, Dakota Granite, Donnelly Commodities, Nyrstar Taylor Chemicals and Strates Shows – none except Olin a major name, but the lawyers are trying for class action status, which would pull virtually all rail shippers into potential remedies. There have been several related suits in the past that have not gotten very far – but we’ll keep following this one too.
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$78
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Where the price per barrel for West Texas Crude ended on Thursday afternoon, continuing the incredible fall from more than $100 less than two months ago. A rising dollar combined with concerns about the global economy generally and a slowdown in China specifically are behind the sharp decrease, as the often criticized “speculator” influence is now acting in reverse to drive prices down more rapidly than supply and demand would probably dictate. Diesel prices have declined less rapidly, but should be seen at the pump soon.
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