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Higher Oil Prices Are Starting To Bring Jobs Home

Posted by kdawson on from the silver-lining-with-a-vengeance dept.

penguin_dance notes a report up at ABC News that high oil and gas prices in the US may be moving jobs back home in a trend that some economists are calling "reverse globalization." It's becoming more and more expensive to ship finished product from other countries, so some companies are moving the manufacturing back to the US. The article hints that this trend may spill over soon to raw materials such as steel. One economist is quoted: "It's not just about labor costs anymore. Distance costs money, and when you have to shift iron ore from Brazil to China and then ship it back to Pittsburgh, Pittsburgh is looking pretty good at 40 bucks an hour."

4 of 777 comments (clear)

  1. Macroeconomics by Citizen+of+Earth · · Score: 5, Funny

    It's almost like there was some kind of invisible hand at work.

  2. Re:Interersing trend... by pipingguy · · Score: 5, Funny

    Real problem is still TOO MANY PEOPLE.

    Hmmm, so maybe going nuclear IS the solution...

  3. Re:Interersing trend... by pushing-robot · · Score: 5, Funny

    Do you even understand how nuclear bombs work versus how nuclear reactors work? Yes. Until something fails it's a reactor.
    --
    How can I believe you when you tell me what I don't want to hear?
  4. No need for that by Rob+Simpson · · Score: 5, Funny

    Just don't have any children.

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