{"id":62663,"date":"2022-05-17T17:48:29","date_gmt":"2022-05-17T22:48:29","guid":{"rendered":"https:\/\/olduvai.ca\/?p=62663"},"modified":"2022-05-17T17:48:29","modified_gmt":"2022-05-17T22:48:29","slug":"inflation-and-soaring-gas-prices-have-forced-a-north-carolina-logging-company-to-shut-down-after-37-years-in-business","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=62663","title":{"rendered":"Inflation and soaring gas prices have forced a North Carolina logging company to shut down after 37 years in business"},"content":{"rendered":"<div class=\"mobile_padding\">\n<h3 data-articlepage-social=\"start\"><a href=\"https:\/\/www.businessinsider.in\/policy\/economy\/news\/inflation-and-soaring-gas-prices-have-forced-a-north-carolina-logging-company-to-shut-down-after-37-years-in-business\/articleshow\/91622454.cms?fbclid=IwAR1TSingBNIFLTuFx6vsz9nw96bO3fXMCr3u0UqDGGyaOLhvszMUC9BJ5Ms#:~:text=A%20family-run%20logging%20business,to%20keep%20the%20business%20running\">Inflation and soaring gas prices have forced a North Carolina logging company to shut down after 37 years in business<\/a><\/h3>\n<\/div>\n<div class=\"ArtInnerCont\" data-nxtload=\"true\">\n<div class=\"clearfix hide_show_handler\">\n<div id=\"meetingImg\" class=\"MeetingImg blk\"><picture><source srcset=\"\/thumb\/msid-91622193,width-700,resizemode-4,imgsize-538144\/policy\/economy\/news\/inflation-and-soaring-gas-prices-have-forced-a-north-carolina-logging-company-to-shut-down-after-37-years-in-business\/img62838fa04c73790019651275.jpg\" type=\"image\/jpeg\" media=\"(min-width:767px)\" \/><source srcset=\"\/thumb\/msid-91622193,width-680,resizemode-4,imgsize-538144\/policy\/economy\/news\/inflation-and-soaring-gas-prices-have-forced-a-north-carolina-logging-company-to-shut-down-after-37-years-in-business\/img62838fa04c73790019651275.jpg\" type=\"image\/jpeg\" media=\"(min-width:575px)\" \/><source srcset=\"\/thumb\/msid-91622193,width-480,resizemode-4,imgsize-538144\/policy\/economy\/news\/inflation-and-soaring-gas-prices-have-forced-a-north-carolina-logging-company-to-shut-down-after-37-years-in-business\/img62838fa04c73790019651275.jpg\" type=\"image\/jpeg\" media=\"(max-width:574px)\" \/><img decoding=\"async\" class=\"imgSmall\" src=\"https:\/\/www.businessinsider.in\/thumb\/msid-60085318,width-600,resizemode-4\/60085318.jpg\" alt=\"Inflation and soaring gas prices have forced a North Carolina logging company to shut down after 37 years in business\" \/><\/picture>\n<div class=\"capt-src\"><span class=\"caption\">As of Monday, gasoline cost $4.491 per gallon, per the US Energy Information Administration.<\/span><span class=\"source\">Johner Images\/Getty Images<\/span><\/div>\n<\/div>\n<\/div>\n<div class=\"section1 hide_show_handler main_content article_content\">\n<div id=\"datatxt91622454read\" class=\"story-text clearfix\">\n<div class=\"Cms-den\" data-den=\"denmark\">\n<div class=\"Normal\">\n<ul class=\"summary-list\">\n<li>A\u00a0logging\u00a0business in North Carolina is shutting down over accelerating\u00a0inflation\u00a0and soaring\u00a0gas prices.<\/li>\n<li>&#8220;I haven&#8217;t talked to a logger in the last few years that is actually making money,&#8221; its owner said.<\/li>\n<\/ul>\n<p>A family-run logging business in North Carolina is shutting down after being unable to cope with accelerating inflation and soaring gas prices.<\/p>\n<p data-pos=\"6\">Bobby Goodson, who set up Goodson&#8217;s All Terrain Logging 37 years ago, said that he couldn&#8217;t find a way to keep the business running.<\/p>\n<p>&#8220;I haven&#8217;t talked to a logger in the last few years that is actually making money,&#8221; Goodson said in a video posted on his\u00a0<a href=\"https:\/\/www.youtube.com\/watch?v=bXWfiMdEP4o\" target=\"_blank\" rel=\"nofollow noopener\">YouTube channel<\/a>\u00a0on May 10, where he announced that he was closing his business.<\/p>\n<p>Goodson said that he was going to start selling off his equipment. &#8220;I can&#8217;t park the stuff for six, eight months, a year waiting for the\u00a0economy\u00a0to turn around,&#8221; he said.<\/p>\n<p data-p-pos=\"11_5\">Fuel prices\u00a0have been soaring in the US as a result of post-pandemic demand and the conflict in Ukraine. As of Monday, regular gasoline cost $4.491 per gallon on average, up $1.463 from the same time a year ago, per the\u00a0<a href=\"https:\/\/www.eia.gov\/petroleum\/gasdiesel\/\" target=\"_blank\" rel=\"nofollow noopener\">US Energy Information Administration<\/a>, an increase of nearly 50%. Though crude oil prices have eased recently,\u00a0<a href=\"https:\/\/www.businessinsider.com\/why-gas-prices-so-high-crude-oil-market-crack-spreads-2022-5?r=US&amp;IR=T\" target=\"_blank\" rel=\"nofollow noopener\">oil refiners have become a bottleneck in the energy market<\/a>, pushing up gas prices.<\/p>\n<p>&#8220;When you got a fleet of trucks, and you&#8217;re running probably 700 to 800 miles a day, a truck is going to get five miles to the gallon,&#8221; Goodson told\u00a0<a href=\"https:\/\/wcti12.com\/news\/local\/family-logging-business-forced-to-close-after-nearly-40-years-due-to-inflation-gas-prices?fbclid=IwAR1C8g_N25tnfN6ZLReskPjs9L0B_568Kqqn_5IoW-SnPqhwnjqYIzXzsxk\" target=\"_blank\" rel=\"nofollow noopener\">News Channel 12<\/a>, an ABC-affiliated network. &#8220;That fuel increase kills you. And so I didn&#8217;t see any way out.&#8221;<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<p data-pos=\"16\">\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Inflation and soaring gas prices have forced a North Carolina logging company to shut down after 37 years in business As of Monday, gasoline cost $4.491 per gallon, per the US Energy Information Administration.Johner Images\/Getty Images A\u00a0logging\u00a0business in North Carolina is shutting down over accelerating\u00a0inflation\u00a0and soaring\u00a0gas prices. &#8220;I haven&#8217;t talked to a logger in the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3],"tags":[9218,1614,32887,426],"class_list":["post-62663","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","tag-business-insider","tag-gas-prices","tag-grace-dean","tag-inflation"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62663","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62663"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62663\/revisions"}],"predecessor-version":[{"id":62664,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62663\/revisions\/62664"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62663"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}