1 00:00:00,320 --> 00:00:03,560 Speaker 1: Let's talk toll roads, because Alexander Downer has written an 2 00:00:03,640 --> 00:00:07,600 Speaker 1: article in The TiSER today saying that toll roads are 3 00:00:07,640 --> 00:00:10,360 Speaker 1: a must given the state is heading to forty four 4 00:00:10,520 --> 00:00:14,200 Speaker 1: billion dollars of debt in the four year forward estimates 5 00:00:14,200 --> 00:00:18,680 Speaker 1: of the state budget forty four billion, and we're borrowing 6 00:00:18,760 --> 00:00:22,959 Speaker 1: and borrowing for more projects as time goes on. No 7 00:00:23,320 --> 00:00:27,360 Speaker 1: end to that insight. He is suggesting a toll road 8 00:00:27,600 --> 00:00:30,480 Speaker 1: is the answer at some stage on new projects. Let's 9 00:00:30,920 --> 00:00:35,000 Speaker 1: have a chat with him. Alexander Downer, Good morning, Good morning. 10 00:00:35,280 --> 00:00:38,600 Speaker 1: This is, in the words of Yes Minister, courageous call 11 00:00:38,640 --> 00:00:41,040 Speaker 1: for a government to make a brave call, isn't it, 12 00:00:41,120 --> 00:00:43,800 Speaker 1: Because as you know here in South Australia, both parties 13 00:00:43,840 --> 00:00:46,839 Speaker 1: have ruled it out and the Labor Party the government 14 00:00:46,920 --> 00:00:50,320 Speaker 1: now vehemently saying never a toll road under our watch. 15 00:00:51,720 --> 00:00:55,040 Speaker 2: Yeah. Well it's easy to say that. But what they'd 16 00:00:55,040 --> 00:00:59,680 Speaker 2: never answered both the politics is the question where does 17 00:00:59,720 --> 00:01:04,000 Speaker 2: they come from. What that's happening in South Australia is 18 00:01:04,040 --> 00:01:08,560 Speaker 2: the government is increasingly building up its debt. Next year 19 00:01:08,720 --> 00:01:11,760 Speaker 2: debt will be twenty six percent of gross state product. 20 00:01:11,880 --> 00:01:15,840 Speaker 2: It's expected that by twenty thirty it'll be around half 21 00:01:15,880 --> 00:01:18,959 Speaker 2: of gross state product, and you reach a point where 22 00:01:18,959 --> 00:01:22,160 Speaker 2: the state government, which is borrowing more and more money, 23 00:01:22,600 --> 00:01:27,199 Speaker 2: will simply not be able to borrow anymore. So it's 24 00:01:27,240 --> 00:01:30,600 Speaker 2: easy to be promising people things for free when you're 25 00:01:30,640 --> 00:01:33,920 Speaker 2: just going out and borrowing the money. It's more difficult 26 00:01:33,959 --> 00:01:36,280 Speaker 2: when you're honest with the public and you say that 27 00:01:36,440 --> 00:01:39,440 Speaker 2: we'll reach a point where we can't borrow any more money, 28 00:01:40,120 --> 00:01:43,200 Speaker 2: nor should we borrow any more money. But if you 29 00:01:43,319 --> 00:01:46,840 Speaker 2: want new highways, I mean I'm talking of major roads, 30 00:01:46,880 --> 00:01:50,280 Speaker 2: not smaller roads. If you want new highways, then the 31 00:01:50,280 --> 00:01:53,840 Speaker 2: only way we can come finance them is if we 32 00:01:53,920 --> 00:01:56,400 Speaker 2: have toll roads. Then that's what's happened in New South 33 00:01:56,440 --> 00:01:59,920 Speaker 2: Wales and Victoria, is what's happened in many parts of 34 00:02:00,120 --> 00:02:05,320 Speaker 2: the world simply because you can't provide things for free forever. 35 00:02:05,840 --> 00:02:08,440 Speaker 1: So if we were looking at Adelaide today, should the 36 00:02:08,840 --> 00:02:13,520 Speaker 1: new south Road underpass motorway when it's done be considered 37 00:02:13,520 --> 00:02:15,040 Speaker 1: a toll road? Would that be a candidate? 38 00:02:16,200 --> 00:02:19,040 Speaker 2: Well, it's sort of half done, isn't it already? So 39 00:02:19,120 --> 00:02:23,280 Speaker 2: it's difficult to change the system halfway through the project. 40 00:02:23,400 --> 00:02:25,960 Speaker 2: I mean, I think originally the project should have had 41 00:02:26,600 --> 00:02:29,240 Speaker 2: had some sort of a toll way system on it 42 00:02:29,360 --> 00:02:32,680 Speaker 2: and be substantially funded by the private sector. It wouldn't 43 00:02:32,720 --> 00:02:36,519 Speaker 2: be possible for the private sector to fund the whole project, 44 00:02:36,600 --> 00:02:40,040 Speaker 2: but substantially funded by the private sector, and it would 45 00:02:40,080 --> 00:02:42,360 Speaker 2: have saved a huge amount of money that could be 46 00:02:42,400 --> 00:02:46,840 Speaker 2: spent on education and health and other areas of public concern. 47 00:02:47,440 --> 00:02:51,200 Speaker 2: But that's not going to happen. But if we're going 48 00:02:51,240 --> 00:02:55,040 Speaker 2: to start developing Gifford Hill I think it's coored near 49 00:02:55,120 --> 00:03:00,959 Speaker 2: murray Bridge and bring a lot more traffic down through 50 00:03:01,040 --> 00:03:04,480 Speaker 2: the Southeast Freeway, it's going to cause major problems. If 51 00:03:04,520 --> 00:03:07,680 Speaker 2: we are going to solve that problem by building a 52 00:03:07,720 --> 00:03:10,840 Speaker 2: new highway, then that will have to be a toll 53 00:03:10,919 --> 00:03:14,120 Speaker 2: road because there's no other way of financing it, or 54 00:03:14,160 --> 00:03:16,280 Speaker 2: if you want to you know, if you want new 55 00:03:16,440 --> 00:03:19,560 Speaker 2: highways anywhere in South Australia, you're going to have to 56 00:03:19,600 --> 00:03:23,560 Speaker 2: pay for them, and that is realistically the only way 57 00:03:23,600 --> 00:03:24,480 Speaker 2: it can be done. 58 00:03:24,720 --> 00:03:26,760 Speaker 1: It's a good point because driving on the freeway on 59 00:03:26,800 --> 00:03:30,760 Speaker 1: the weekend, just obviously between Mount Barker and the city 60 00:03:30,800 --> 00:03:32,640 Speaker 1: there is a lot more traffic and I was thinking 61 00:03:32,639 --> 00:03:35,600 Speaker 1: at some point an extra lane is going to be added, 62 00:03:35,760 --> 00:03:38,240 Speaker 1: have to be added on both sides, in and out 63 00:03:38,760 --> 00:03:40,800 Speaker 1: to make it three lanes all the way into the 64 00:03:40,800 --> 00:03:43,440 Speaker 1: city from Mount Barker. That seems as obvious as day. 65 00:03:43,480 --> 00:03:44,520 Speaker 1: And how are we going to afford that? 66 00:03:45,520 --> 00:03:48,800 Speaker 2: Yeah, not only not only would that be very expensive, 67 00:03:48,880 --> 00:03:51,320 Speaker 2: And you're probably right that will have to be done 68 00:03:51,360 --> 00:03:55,440 Speaker 2: at some stage, particularly given that Mount Barker is now 69 00:03:55,480 --> 00:04:00,200 Speaker 2: becoming a town of forty thou people. But you do 70 00:04:00,280 --> 00:04:03,240 Speaker 2: have a logistical problem there, and that it's the Hyson tunnels. 71 00:04:04,200 --> 00:04:06,760 Speaker 2: So there are four lanes through the top Hyden tunnels. 72 00:04:06,800 --> 00:04:09,160 Speaker 2: If you wanted to expand that to six, that would 73 00:04:09,160 --> 00:04:14,120 Speaker 2: be hugely expensive to expand those tunnels obviously feasible in 74 00:04:14,120 --> 00:04:18,000 Speaker 2: an engineering sense, but all of these things cost eye 75 00:04:18,080 --> 00:04:21,200 Speaker 2: watering amounts of money. And I just want your listeners 76 00:04:21,240 --> 00:04:24,320 Speaker 2: to stop and think, not think, oh, I wouldn't want 77 00:04:24,320 --> 00:04:26,800 Speaker 2: to pay a toll. Of course they wouldn't want to 78 00:04:26,800 --> 00:04:30,239 Speaker 2: pay a toll. I understand that. But then you won't 79 00:04:30,279 --> 00:04:33,960 Speaker 2: have the road because the state government has just about 80 00:04:34,160 --> 00:04:38,480 Speaker 2: maxed out its debt and they just keep borrowing and 81 00:04:38,880 --> 00:04:42,200 Speaker 2: browing and borrowing and building up more debt and no 82 00:04:42,240 --> 00:04:45,479 Speaker 2: one cares. I mean nobody in the Parliament cares. They 83 00:04:45,520 --> 00:04:49,880 Speaker 2: barely debate this issue, and I find that quite astonishing. 84 00:04:49,960 --> 00:04:52,480 Speaker 1: Really all right, Alexander Downa, thanks for your thoughts and 85 00:04:52,560 --> 00:04:56,719 Speaker 1: time this morning, the articles in the advertiser. It is 86 00:04:56,960 --> 00:04:59,279 Speaker 1: twenty five past nine. Let's put that to Steve Shearer, 87 00:05:00,160 --> 00:05:04,400 Speaker 1: Transport Association. Steve, good morning, thanks for your time. Toll roads, 88 00:05:04,640 --> 00:05:05,120 Speaker 1: yes or no. 89 00:05:06,720 --> 00:05:10,800 Speaker 3: The trucking industry. I've been doing this for thirty years, Matthew, 90 00:05:10,839 --> 00:05:16,720 Speaker 3: and the trucking industry has always said that we're not 91 00:05:16,760 --> 00:05:21,920 Speaker 3: opposed to tolls. But there are a couple of conditions 92 00:05:22,640 --> 00:05:25,680 Speaker 3: it has. Any toll on a road that's used by 93 00:05:25,720 --> 00:05:29,800 Speaker 3: the babe vehicle industry road frate sector would have to 94 00:05:29,839 --> 00:05:33,239 Speaker 3: be set at a level that's equal to or less 95 00:05:33,279 --> 00:05:37,640 Speaker 3: than the cost saving. Otherwise there's no point because we're 96 00:05:37,839 --> 00:05:41,720 Speaker 3: already paying eight billion dollars a year in fuel exise 97 00:05:42,360 --> 00:05:47,000 Speaker 3: that per later we pay an amount of fuel excise, 98 00:05:47,400 --> 00:05:50,479 Speaker 3: and the amount we pay is set by the federal 99 00:05:50,520 --> 00:05:54,000 Speaker 3: government and it is set at the level that recovers 100 00:05:54,080 --> 00:05:56,680 Speaker 3: the cost of our impact on the roads. So the 101 00:05:56,680 --> 00:06:00,320 Speaker 3: trucking industry is already paying and has been for a 102 00:06:00,400 --> 00:06:03,480 Speaker 3: very long time. Came for the roads that we use 103 00:06:03,920 --> 00:06:06,039 Speaker 3: and the wear and tear we cause on them. So 104 00:06:06,160 --> 00:06:09,680 Speaker 3: a toll is an additional tax, so there has to 105 00:06:09,720 --> 00:06:14,840 Speaker 3: be a benefit to the trucking industry otherwise it's unfair 106 00:06:15,320 --> 00:06:19,440 Speaker 3: and uneconomic. That's the first point. Second point though, is 107 00:06:19,480 --> 00:06:22,599 Speaker 3: that because I've been doing this for so long, I've 108 00:06:22,680 --> 00:06:26,720 Speaker 3: seen every government from every side of politics say no 109 00:06:27,080 --> 00:06:31,040 Speaker 3: to toll, mainly for two reasons, Matthew, the media beat 110 00:06:31,080 --> 00:06:33,279 Speaker 3: them up when they say they're going to use tolls, 111 00:06:33,760 --> 00:06:37,360 Speaker 3: and the politics gets played. A long time ago, before 112 00:06:37,400 --> 00:06:40,400 Speaker 3: the bridges that put down at Port Adelaide we build, 113 00:06:40,839 --> 00:06:43,479 Speaker 3: I arranged the meeting with the then Premier Ike Ran, 114 00:06:44,000 --> 00:06:48,160 Speaker 3: his Transport Minister, Michael Wright, the Treasurer of Kevin Foley, 115 00:06:48,680 --> 00:06:51,320 Speaker 3: and we discussed whether or not a toll would help 116 00:06:51,400 --> 00:06:54,760 Speaker 3: get the built that the bridges built. And at the 117 00:06:54,839 --> 00:06:56,960 Speaker 3: end of the meeting Mike Ram said, Steve, you go 118 00:06:57,040 --> 00:06:59,640 Speaker 3: and get the opposition to agree to tolls and then 119 00:06:59,720 --> 00:07:03,560 Speaker 3: we'll look at it. That afternoon I met with Rob Kern, 120 00:07:03,839 --> 00:07:07,120 Speaker 3: the then leader of the opposition, and he said, Steve, 121 00:07:07,200 --> 00:07:10,200 Speaker 3: it's not our job in opposition to go first on tolls. 122 00:07:10,560 --> 00:07:12,680 Speaker 3: You get the government to go first and we'll look 123 00:07:12,720 --> 00:07:17,360 Speaker 3: at it. They're both afraid of having the other party 124 00:07:17,480 --> 00:07:21,960 Speaker 3: go first and losing votes at elections. But this morning 125 00:07:22,440 --> 00:07:27,400 Speaker 3: on the ABC I listened very carefully to Tom cuibsontonus's 126 00:07:27,520 --> 00:07:32,360 Speaker 3: quite reasonable arguments about why tolls aren't working as well 127 00:07:32,400 --> 00:07:35,480 Speaker 3: as they should and it could work against you because 128 00:07:35,480 --> 00:07:38,480 Speaker 3: of commuters saying I'm not paying a toll on that 129 00:07:38,560 --> 00:07:41,640 Speaker 3: bit of infrastructure. I also heard being Hood the new 130 00:07:41,680 --> 00:07:48,040 Speaker 3: opposition shadow minister rule out unequivocally tolls, but his words were, 131 00:07:49,120 --> 00:07:51,600 Speaker 3: if re elected in our first term of office, there 132 00:07:51,640 --> 00:07:53,640 Speaker 3: will be no tolls, So he didn't quite rule it 133 00:07:53,680 --> 00:07:57,440 Speaker 3: out forever. But the point is the politics are dead 134 00:07:57,480 --> 00:08:02,160 Speaker 3: against tolls. The trucking into is not against tolls. If 135 00:08:02,160 --> 00:08:06,400 Speaker 3: it helps us get a better road, like a decent 136 00:08:06,960 --> 00:08:10,960 Speaker 3: bypass behind the hills, that works well. But the toll 137 00:08:11,160 --> 00:08:13,960 Speaker 3: has to be set to the level that does not 138 00:08:15,240 --> 00:08:19,480 Speaker 3: economically disadvantage the trucking industry because we're already paying our way. 139 00:08:21,000 --> 00:08:23,600 Speaker 1: You might put the argument then that the benefit to 140 00:08:23,640 --> 00:08:26,640 Speaker 1: the trucking industry is a faster root with a toll road, 141 00:08:26,720 --> 00:08:28,440 Speaker 1: so that's your payoff. 142 00:08:29,320 --> 00:08:32,920 Speaker 3: No, that's the point. So one hundred and fifteen kilometers 143 00:08:32,960 --> 00:08:36,880 Speaker 3: extra behind the hills works for us if we can 144 00:08:36,960 --> 00:08:40,760 Speaker 3: travel at a speed of say, every speed of ninety 145 00:08:40,840 --> 00:08:43,320 Speaker 3: to ninety five kilometers per hour and get much better 146 00:08:43,360 --> 00:08:47,160 Speaker 3: fuel consumption, and so we get a saving of X. 147 00:08:47,960 --> 00:08:52,440 Speaker 3: What we wouldn't go along with is being charged a 148 00:08:52,520 --> 00:08:55,480 Speaker 3: toll that's greater than X. So we get a better 149 00:08:55,600 --> 00:08:58,559 Speaker 3: road that gives us a saving, and we would accept 150 00:08:58,559 --> 00:09:01,760 Speaker 3: a toll that's set at that level or a bit less. 151 00:09:01,840 --> 00:09:04,240 Speaker 1: All right, Steve, appreciate your time this morning. Thank you, 152 00:09:05,520 --> 00:09:08,599 Speaker 1: Steve Sheer. S I right Transport Association. Jonathan Wilson is 153 00:09:08,679 --> 00:09:11,520 Speaker 1: CEO Freight Council of South Australia. What's your view on 154 00:09:11,600 --> 00:09:12,679 Speaker 1: tells Jonathan. 155 00:09:13,040 --> 00:09:15,559 Speaker 4: Well, first of all, we would agree with what Steve's 156 00:09:15,600 --> 00:09:19,560 Speaker 4: already articulated around the trucking industry already being a significant 157 00:09:20,040 --> 00:09:23,000 Speaker 4: economic contributor to roads. But I think if you, if 158 00:09:23,000 --> 00:09:26,600 Speaker 4: you think about the sort of problems that mister Doner's 159 00:09:26,640 --> 00:09:29,400 Speaker 4: trying to address in his article, and it's really healthy 160 00:09:29,400 --> 00:09:31,920 Speaker 4: for us to continue to have these more difficult, you know, 161 00:09:31,960 --> 00:09:35,320 Speaker 4: controversial conversations. You know he's got he's got the notion 162 00:09:35,400 --> 00:09:38,640 Speaker 4: of congestion. He talked about the Adelaide hills. He's got 163 00:09:38,679 --> 00:09:42,400 Speaker 4: the notion of of the user pays in his article, 164 00:09:42,840 --> 00:09:45,440 Speaker 4: he's got the notion of maintenance. You've got the notion 165 00:09:45,520 --> 00:09:48,120 Speaker 4: of costs. You've gotta got these four different things that 166 00:09:48,200 --> 00:09:51,959 Speaker 4: he's talking about from from our point of view. When 167 00:09:51,960 --> 00:09:56,719 Speaker 4: you're looking at Fred, Ultimately, any inefficiency or any additional 168 00:09:56,840 --> 00:10:00,480 Speaker 4: cost that exists in Fred is borne by the end users. 169 00:10:00,559 --> 00:10:04,079 Speaker 4: So an inefficiency in in moving phrase from point out 170 00:10:04,080 --> 00:10:06,400 Speaker 4: to point B, results in higher costs of food at 171 00:10:06,440 --> 00:10:09,079 Speaker 4: the supermarket, and the bolts and higher costs, and when 172 00:10:09,120 --> 00:10:11,160 Speaker 4: you go to buy clothes you go to the hardware store, 173 00:10:11,640 --> 00:10:15,280 Speaker 4: it results in lower returns to farmers. So inefficiency is 174 00:10:15,280 --> 00:10:18,439 Speaker 4: something that's inherently bad for South Australians. I think the 175 00:10:18,800 --> 00:10:20,719 Speaker 4: other point that the main point that I think came 176 00:10:20,720 --> 00:10:22,440 Speaker 4: out of that article was you know who's paying for 177 00:10:22,480 --> 00:10:25,559 Speaker 4: these new this these this new road And it makes 178 00:10:25,679 --> 00:10:27,320 Speaker 4: sense he says the farmer and said Gina is not 179 00:10:27,640 --> 00:10:30,800 Speaker 4: not going to use it. The so on our contention 180 00:10:31,000 --> 00:10:34,200 Speaker 4: is that this North South Motorway is actually has the 181 00:10:34,240 --> 00:10:39,080 Speaker 4: potential to be fundamentally change the way that South Australia works, 182 00:10:39,080 --> 00:10:42,760 Speaker 4: and those guys will ultimately use that road in the 183 00:10:42,800 --> 00:10:44,760 Speaker 4: fact that the big things are going to eat or 184 00:10:44,800 --> 00:10:46,600 Speaker 4: the parts for the new Holland tractor are going to 185 00:10:46,600 --> 00:10:49,800 Speaker 4: come by on North South and ultimately, as you know, 186 00:10:49,880 --> 00:10:53,400 Speaker 4: as a taxpayer in SOIDE Australia, you don't have to 187 00:10:53,400 --> 00:10:56,000 Speaker 4: physically use the piece of infrastructure to get the value 188 00:10:56,000 --> 00:10:58,280 Speaker 4: out of it. You know, I don't physically go to prison, 189 00:10:58,840 --> 00:11:01,240 Speaker 4: but I get the value out of having a correctional facility. 190 00:11:01,280 --> 00:11:03,720 Speaker 4: So you don't have to actually use it yourself to 191 00:11:03,720 --> 00:11:05,679 Speaker 4: get the value out of it. But I think one 192 00:11:05,679 --> 00:11:07,319 Speaker 4: of the really big things we would like to make 193 00:11:07,360 --> 00:11:09,240 Speaker 4: sure it keeps in the front foot is this notion 194 00:11:09,320 --> 00:11:12,080 Speaker 4: of road maintenance. One you're trying to you're trying to 195 00:11:12,080 --> 00:11:15,640 Speaker 4: find this way is to fund new, big, innovative pieces 196 00:11:15,679 --> 00:11:18,840 Speaker 4: of infrastructure. But we actually have our current infrastructure that 197 00:11:19,040 --> 00:11:23,880 Speaker 4: the excise amount writ large that's available for the maintenance 198 00:11:23,880 --> 00:11:25,800 Speaker 4: of the roads is reducing as people go on to 199 00:11:27,240 --> 00:11:31,160 Speaker 4: electric vehicles. The real problem that needs to be addressed there, 200 00:11:31,200 --> 00:11:34,200 Speaker 4: that's that's going to be a short term problem. And yeah, 201 00:11:34,480 --> 00:11:35,760 Speaker 4: you know, we agree that it has to be a 202 00:11:35,760 --> 00:11:40,000 Speaker 4: proper discussion, but sure discussion had by by stakeholders is 203 00:11:40,000 --> 00:11:43,000 Speaker 4: that around you if we're going to put in new, 204 00:11:43,280 --> 00:11:47,240 Speaker 4: big pieces of infrastructure. Whatever that infrastructure is doesn't have 205 00:11:47,280 --> 00:11:50,000 Speaker 4: to be transport infrastructure. How is that going to be 206 00:11:50,080 --> 00:11:53,640 Speaker 4: funded in a way that that is that ultimately the 207 00:11:53,640 --> 00:11:56,560 Speaker 4: people who benefit from it are the ones paying for it. 208 00:11:56,600 --> 00:11:59,920 Speaker 4: But because we're a nation, you know, we're funding infrastructure 209 00:12:00,120 --> 00:12:02,760 Speaker 4: Hobarton and cares that I'm never going to use. Yeah, exactly, 210 00:12:03,440 --> 00:12:05,800 Speaker 4: but we take that because hey, sometimes we're the ones 211 00:12:05,840 --> 00:12:09,720 Speaker 4: that are going to get funding for our infrastructure. And frankly, 212 00:12:09,760 --> 00:12:12,480 Speaker 4: you're a really pleased to see the federal government kick 213 00:12:12,520 --> 00:12:17,040 Speaker 4: in so much money to fund what's actually transformational FORCIPE Australia. 214 00:12:17,080 --> 00:12:19,040 Speaker 1: All right, just well I have you, Jonathan, thank you 215 00:12:19,080 --> 00:12:21,760 Speaker 1: for your points there. And you raise something earlier that's 216 00:12:21,760 --> 00:12:24,559 Speaker 1: triggered a memory of an email I had yesterday or 217 00:12:24,600 --> 00:12:28,200 Speaker 1: a text from a listener. You come in about the 218 00:12:28,240 --> 00:12:31,840 Speaker 1: price of food on shelves, relating back to transport costs, 219 00:12:31,880 --> 00:12:34,719 Speaker 1: and somebody made the very valid point that over the 220 00:12:34,800 --> 00:12:38,000 Speaker 1: last six months the price of diesel has come down, 221 00:12:38,400 --> 00:12:41,880 Speaker 1: diesel fuel that doesn't seem to be reflected in the 222 00:12:41,920 --> 00:12:46,600 Speaker 1: price on the shelf in supermarkets. Now, you can't control 223 00:12:46,640 --> 00:12:50,200 Speaker 1: what happens in supermarkets. You're the freight Council. But that 224 00:12:50,360 --> 00:12:53,440 Speaker 1: is a relative point, isn't it, And a fair point 225 00:12:53,520 --> 00:12:55,840 Speaker 1: that diesel is cheaper, but that isn't being passed on. 226 00:12:57,600 --> 00:13:00,600 Speaker 4: It's one of a tremendous and oder cost of the 227 00:13:00,600 --> 00:13:05,680 Speaker 4: freight industry has to absorb. So diesel is one aspect 228 00:13:05,720 --> 00:13:07,800 Speaker 4: of it. But we've got wages and if you think 229 00:13:07,840 --> 00:13:10,120 Speaker 4: of where our products actually come from, a lot of 230 00:13:10,200 --> 00:13:13,280 Speaker 4: them are coming from international areas. So the cost of 231 00:13:13,320 --> 00:13:15,679 Speaker 4: ocean freight, for example, and containers has tripled in the 232 00:13:15,720 --> 00:13:18,520 Speaker 4: past couple of months. So actually what you're seeing in 233 00:13:18,520 --> 00:13:20,360 Speaker 4: that at the buzzer isn't telling you the whole story. 234 00:13:20,360 --> 00:13:22,760 Speaker 4: It's telling you a very very small part of the story, 235 00:13:22,880 --> 00:13:25,680 Speaker 4: albeit for different parts of the industry. Really important. 236 00:13:25,920 --> 00:13:28,360 Speaker 1: All right, thank you for your comments. I appreciate your time. 237 00:13:29,240 --> 00:13:29,640 Speaker 4: No worry. 238 00:13:29,760 --> 00:13:32,040 Speaker 1: Jonathan Wilson, CEI Fright, Counsel of SI