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US rail strikes heat up, economy faces uncertainty

2 Dec 2022 15:44 reported by Mike Lo

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To avoid rail strikes, the US House of Representatives passed a measure that would add seven paid sick leaves to railroad labor agreements, and the bill still needs to be passed by the Senate.

In addition, four of America's 12 railroad unions repudiated the September deal, all preparing for a joint strike on December 9.

In addition, rail strikes could disrupt coal shipments to power plants and pressure gas and electricity prices upward. Rail strikes also affect gasoline prices because most gasoline contains ethanol, and nearly 70% of ethanol is transported by rail.

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