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Edited on Tue Aug-16-05 06:37 PM by KerryOn
ON EDIT: Sorry for the rant!
There are more reasons for the high oil prices then you have outlined. Some of it is beyond the Governments control.
China's economy is exploding, and exploding like never before in our history. Most of their economic boom is because of the cheap exports that they make and import to the United States. Since their economy is doing so good they are very hungry for oil. More hungry for oil than we are. This has made a great impact on the oil prices as well.
People don't believe me or seem to care that we are at war with China. An economic war that could escalate into something much large if we are not careful, and with our current administration that scares the hell out of me. I have seen it coming for several years, and our government has turned a blind eye.
I work in the steel industry, and the cost of raw steel has been the same for over twenty years. In he early 80's the cost was about $.30 per pound. In the late 80's or early 90's US steel companies could not compete with the foreign steel markets, and today their is only one steel mill that I know of in the US. Steel remained roughly $.30 per pound until last fall. Remained there until China literally bought up all the scrape steel in the world. (It takes scrape steel to make new steel.) When this happened steel became scares and the steel prices went from $.30 to $.60 per pound over night and they remain at that price today. China claims that they needed the steel because of their booming economy, but I feel the real reason was so they could CONTROL the market. And they have! China has done the same thin to control the stainless steel market in the past by buying up all the Nickle, which is only mined in Canada and Russia.
They also want to control the market of oil.
We have been in an economic war with China for a long time, and it will result in big trouble if something is not done.
What scares me more is that this administration seems to be ignoring it. As long as * oil friends are making money they don't give shit.
And now Russia and China are beginning war games. What do you think is down the road for us?
Boy did I rant! Sorry, but it felt good!
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