by Jim Rickards, Daily Reckoning:

Americans know that gasoline prices are higher, home heating fuel prices are higher and that there’s an emerging diesel fuel shortage in the United States.

Higher fuel costs translate into higher costs for everything because trucks, trains, planes and cargo vessels all run on fuel (mostly diesel) so those higher fuel costs get passed along as higher prices for the goods being shipped including food.

The diesel shortage is especially alarming…

Unless you drive an old Volkswagen or Mercedes you’ve probably never put diesel fuel in your car. Cars are powered with gasoline, another distillate of crude oil. But practically everything else runs on diesel.