The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on May 18, 2022, 09:05:39 pm
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Bidenflation: Diesel Price Surge Has New England Fishing Industry Reeling
Ethan Letkeman 18 May 2022
Commercial Fishermen are feeling the effects of President Joe Biden’s economy as the price of diesel, a fuel widely used within the industry, has skyrocketed in the New England region, according to a report.
The average price of diesel was $6.41 in Massachusetts as of Wednesday and $6.47 in Rhode Island, the American Automobile Association (AAA) reported.
“Back in 2019, I paid $1.50 a gallon, now I’m paying $6.50 a gallon,” Captain James Keding, who works in the mussel industry in the Northeast, told Boston25 News.
Captain Dave Hobson, who works in the lobster industry and runs a fishing charter company in the region called Wavelength Fishing Charters, echoed Keding’s sentiments, telling Boston 25 that prices have tripled since last year.
Hobson says he is “contemplating doing a fuel surcharge” for fisher charting clients if the surging price of diesel is not remedied.
“Somehow we have to cover our costs,” he added.
Because of rising diesel prices in the region, commercial fishermen are concerned about how they will make up for expenses. Keding “says they can’t just pass these costs on to buyers because of the way the wholesaler system works.”
As Americans like Keding and Hobson try to make ends meet with rocketing gas prices and an inflated economy, Biden has failed to properly address the gas cost surge – often blaming others.
When asked about the rising prices in March, Biden said, “Can’t do much right now,” while placing responsibility on Russia, Breitbart News noted.
more
https://www.breitbart.com/pre-viral/2022/05/18/bidenflation-diesel-price-surge-has-new-england-fishing-industry-reeling/
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“Somehow we have to cover our costs,” he added.
Econ.101 and it doesn't just apply to the fishing industry!
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The Bidenflation squeeze will get more pronounced and severe as business sector after business sector sorts out how to operate in an environment where dominoing increased costs have to be absorbed at the same time trying to make a decent living, or create a decent sustainable profit.
Sad to say but the top of the pyramid of suffering will be the poor, and the elderly who have mostly fixed income instuments. Back in the good old days, the elderly could manage investments with decent interest rates differentials from bonds and CD's. The Fed has stuck a dagger into that line of thought for the percieivable future. The retired are now in a postion where they now mostly have to dip into investment principal to maintain their lives.
For the poor, and lower income brackets, absorbing the fixed higher incremental costs of fuel, rent, food are especially devastating. Joe Biden and his clown car of economic advisors has done more to kill the U.S. standard of living of any POTUS on record. And Pedo Joe and his playing the denial card is only accelerating the disaster.
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The lobster industry is facing other Biden-caused problems, it seems.
Congressman Jared Golden
@RepGolden
If the Biden White House can prioritize purchasing 200 Maine lobsters for a fancy dinner, @POTUS should also take the time to meet with the Maine lobstermen his administration is currently regulating out of business.
Kate Bennett
@KateBennett_DC
200 live lobsters were shipped from Maine to the White House yesterday morning to prep the butter-poached lobster course of tomorrow night’s State Dinner … per Chef Comerford. @FLOTUS in background
3:05 PM · Nov 30, 2022
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