In just the time it took to fill up, the price increased by 18 cents a gallon. That rapid a run in prices is rarely seen in this country. Potential Impact on U.S. Economy Mr. Chairman, you are well aware of the many challenges facing the trucking industry. Even before this situation, the trucking industry was straining the limits of our capacity to meet the shipping demands of a booming economy. We are struggling with an acute driver shortage as we find ways to entice young people to a life on the road.
Trucking is central to the U.S. economy.
Many carriers are rapidly burning through their cash reserves. If carriers are either forced to limit their runs or simply shut down their rigs, there won't be a way to pick up and move all the freight that must be moved. And, as you know, trucking is what brings the goods to our doors and our stores. The other modes of transportation, which are also bearing the brunt of high fuel prices, can't help us. If we start to see bottlenecks, shippers who today object to a fuel surcharge will have to scramble to get their freight delivered at any cost.