Work Notes/Issues The USA And China Trade War Will Bring
Back again here with another work blog entry and I wanted to take the time on my break that it was steady so far regarding work but as for the number of customers coming into the store to buy fuel and other purchases it was steady.I would have thought that it would have been really busy tonight but low and behold it wasn't really that much busy. Like there wasn't any major activity today because I am thinking that most people were busy. I say this because yesterday the gas prices dropped from when I worked a couple of days ago. But no it was amazingly quiet today and it will probably be the same tonight leading to closing time and that's fine with me.
With that said I want to talk about what went on in the petroleum industry. I want to say that with the oil price I haven't seen much change in the marketplace. We seem to be sitting at about $55/barrel and from what I have read in CNBC I don't see it going up anytime soon since outside factors come into play. Like this trade war between China and the USA is still going on and it will continue to go back and forth unless both countries come to some kind of an agreement which I don't think it will happen.In fact, this trade war according to the Calgary Herald will even drive the oil price even lower making it harder for petroleum businesses to work or do business here.
So I think that something has to give eventually because this war cannot go on forever. Even if the USA and China were to keep going at each other in this economic warfare one or both countries won't benefit from this trade war. In fact the people in both countries will lose in this trade war due to the heavy taxes that their citizens will have to pay when it comes to consuming their goods and services. What about manufacturing? Both countries will pay a lot for innovation in not only manufacturing but creating their products,getting it patented and getting it out into the market. How will both countries deal with these issues if they continue this trade war? Those are the questions I have regarding this issue.
But the petroleum industry is the main thing when it comes to this trade war and the economic cost the low oil price during this trade war.