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New Mexico | Transports ( volume ) have been consistently off approx 20% for 09. ( Rail and trucks both, and all the rest of the transport sectors too ).
Fuel is high ( in Real $ ). Thus anything moved by truck is much higher cost per unit moved than ever before.
Seems like the bet is moreso that less and less goods will move on trucks, with rail actually picking up some of that volume.
Also seems that until at least Half of that 20% monthly movement is regained ( if ever ), things are obviously flat to deflationary.
Granted some could say that any future increase in transports ( volume) from current depressed levels is then inflationary...but from a truth standpoint, perhaps a pretty weak argument.
Most likely, this is a good sign for agri product prices. More product moving to the coast for export, and BNSF will be railing it.
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W.Buffett play for Bur N. Rail---total bet on Inflation
