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Scrap Market Manipulation

Published Friday, August 01, 2008

A late-July report in The New York Times, “Fuel Subsidies Overseas Take A Toll on U.S.,” details how governments in China, India and other countries with above-average economic growth are shielding their citizens from spiraling gasoline and diesel costs, nullifying the effect that price spikes would have on demand. Citing analysis from energy giant BP, reporter Keith Bradsher found that fuel-subsidizing countries accounted for 96 percent of the world's increase in 2007 oil consumption. U.S. and Canadian concrete interests need no reminder of the pain fuel prices have added to a year when most markets are incurring record ...

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