Loading ...This is very interesting considering the Dollar and rates are higher. The government media discriminates against the evils of fossil fuel all the time. And that ESG thing must be inhibiting those energy companies from increasing investment production, so far.
Maybe a reversal in importing is involved. And these are local costs involved? I remember hearing back in the 1970s the dawn of off shoring jobs, that US oil rig workers were getting $35/hour and foreign producers working for $3/hour.
The story back then was globalization is good, consumers will save money. Plus to get CPI numbers lower. But deflation in wages from using foreign labor. Predicted in the Dinesletter in 1980.
With the USA a victim of globalization, which in reverse, let’s assume prices profits wages and workers living standards will all get higher in the future.
Unfortunately the transition or coarse adjustment from bad old habits to a better future will be painful. No pain no gain. Withdrawal. The opposite of how easy and fun to start a bad habit. The “highs” of enjoying mathematically cheaper imports for 50 years.