Buffett Positive About Trucking Future, Trump Presidencyby Jake Tully - Published: 11/15/2016
It seems the “Oracle of Omaha” himself is hopeful about the transportation industry leading in to 2017-2018.
“I can’t predict a recession,” said Buffet. “But if you guaranteed me one would happen next year I would still be buying and selling the same things that I currently am. It’s (The United States) becoming more and more of a specialized economy.”
Warren Buffett recently announced some positive projections for increases in freight after the Berkshire Hathaway stock exploded due to Trump’s election. Still, he realized that his positive attitude comes after a wake of the trucking market feeling a downturn.
“Take a look at the railroad and trucking industry in October,” said Buffett. “They were down, and it wasn’t due to weather. We’re talking about moving goods to the end consumer.”
January 5th: Trucker Faces 20 Years After Pleading Guilty To Smuggling Alien Found Dead In Locked Toolbox
January 2nd: Police Identify 2 Oregon Truck Drivers Killed In Fiery Head-On Crash
December 27th: Iowa First Of Eight States To Debut New Truck Parking Information System
Buffett, who has specific interests in the train and commercial transportation industry did not give a numerical prediction in where jobs might go, but was ever-optimistic in the amount of growth that transportation companies are likely to see with a supposed boom in American-made products and factory growth.
With an estimate of one in every fifteen workers in the United States holding a truck driving job or a job related to the transportation industry, it’s no surprise that names like Trump and Buffett are beginning to realize the importance and impact of growth within the world of trucking.
Buffett, who had previously supported Clinton during the presidential race is also singing a different tune regarding the president-elect, saying that Trump, “deserves everyone’s respect.”
In the two months left until Trump’s inauguration, many outside of Buffett’s camp are beginning to speculate about the future of driving in the coming years. More specifically, many are wondering whether Donald Trump’s proposed $1 trillion infrastructure plans are going to have a positive and lasting effect for drivers.
With ELD compliance on the horizon and the dusting still settling from HOS, the President-elect’s decisions regarding EPA may be one of the major forces steering some changes within trucking.