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NEW - Dan McTeague on the Oil Supply Shock Canada Is Not Ready For
Diesel fuel prices are already painful for Canadian truck operators, and Dan McTeague says the number people are watching at the pump is not the number that tells the real story. The supply that kept prices stable is gone and the replacement is not coming quickly.
Emergency reserves globally are nearly exhausted. The floating oil inventory that markets treated as a buffer has been consumed. A barrel priced at $67 on paper costs closer to $150 to actually acquire and deliver. McTeague draws a direct line from those numbers to dump truck operators earning a dollar a litre on deliveries that…
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