It’s a change from the usual complaints about high energy costs from the mainstream media, especially ABC . But, the June 24 “World News Tonight” showed that higher fuel costs may be helping Americans by making domestic manufacturing more competitive
“Tonight, we have a closer look at what may be a surprising upside to all the hardship being caused by record oil and gas prices,” “World News” fill-in anchor Elizabeth Vargas said. “And that is the creation of new American jobs.”
“Over the past 10 years, more than 4 million manufacturing jobs have been lost in this country, many as companies found they could make things more cheaply overseas and then ship them here,” she said. “But now, with the cost of energy and shipping skyrocketing, made in the
Although oil hasn’t traded at $20 a barrel in nearly a decade , ABC correspondent Sharyn Alfonsi showed the costs associated with exporting and importing raw materials and finished goods, with oil at over $135 a barrel, isn’t cost effective as it once was. Savings on overseas labor are offset by soaring freight charges.
“When oil was $20 a barrel, it cost $3,000 to ship a 40-foot container from
Alfonsi called it “reverse globalization.” One potential
“When you have to ship iron ore from
In the 1980s,