Higher Oil Prices Are Starting To Bring Jobs Home

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."

Whacked upside the head ...

[Ungrounded Lightning]

... by The Invisible Hand.

Adam Smith strikes.

Macroeconomics

[Citizen of Earth]

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

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[account_deleted]

Comment removed based on user account deletion

Really?

[Trogre]

I didn't know he'd gone anywhere.

Re:Interersing trend...

[Mithras6691]

This has hit the general public in a way they never really ever imagined before, and they are shocked.

They've been slashdotted.

wessels?

[ciaohound]

Thank you, Mr Checkov. Mr Sulu, lay in a course for the 1970's.

Re: piracy

[pipingguy]

Add minigun.

Re:Interersing trend...

[pipingguy]

Real problem is still TOO MANY PEOPLE.

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

Re:Interersing trend...

[stfvon007]

so the plan is to announce that we are drilling there, then not do it! We get the best of both worlds then! We could even fake all the drilling stuff, and when environmentalists go and find something there / protect at the drill sites, we tell them everything with the drilling is underground now.

Re:Interersing trend...

[xZoomerZx]

Nuclear power is a safe and viable alternative to fossil fuels. PERIOD!

I wholeheartedly agree!. Because even the biggest fuel/air bombs cant get that many at once. On the other hand, even if the target scatters like roaches, you can still warm enough of them to have a body count in the seven figure range.

Re:Interersing trend...

[Brain Damaged Bogan]

"Real problem is still TOO MANY PEOPLE."
well then stop being part of the problem and be part of the solution
commit suicide today!

Re:Interersing trend...

[Anonymous Coward]

which in turn causes the banks to loose money (yes they loose money on a foreclosure because they get a house and not the money back), which cause them to jack up the rates to cover their loosses

Fixed that for you. At least be consistent with your spelling, people.

Re:Interersing trend...

[Anonymous Coward]

No, you idiot. Pixie dust is for flying.

Re:Interersing trend...

[pushing-robot]

Do you even understand how nuclear bombs work versus how nuclear reactors work?

Yes. Until something fails it's a reactor.

No need for that

[Rob Simpson]

Just don't have any children.

Slashdot: Part of the solution!

Re:It's also putting the kibosh on the American Dr

[elrous0]

We lost an bike-riding employee to a rhino attack just this week. I can still picture him, desperately peddling away in those Birkenstocks, trying to outrun that rhino while we sat back watching helplessly from the office window. We found out later that the rhino was attracted to the color in his tye-dyed t-shirt. All that was left of him after the rhino got done was part of his torso and his laminated PETA membership card.