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TATA for Now – India’s Industrial Outpost in Britain

India’s industrial outpost  – Tata for now

The country’s biggest manufacturer is Indian. What does it seek from and give to Britain?

Sep 10th 2011 | STOCKSBRIDGE | The Economist

THE steelworks at Stocksbridge in South Yorkshire are strangely quiet. Its furnaces are not of the roaring blast variety; they are small, purring vacuum-arc furnaces that use electrical current to re-melt steel. Beer-barrel-sized ingots made from scrap at a sister steelworks in nearby Rotherham are cleaned, welded to a stub and lowered into the furnace. The drop-by-drop melting takes 12-14 hours, removes impurities and strengthens the steel. Once cooled and tested, the blocks of steel are ready for use in aerospace and oil-drilling, where high-strength steel is prized.

The steelworks were once part of Corus, an Anglo-Dutch firm, and before that of British Steel. They are now owned by Tata Steel, which belongs to an Indian conglomerate that also makes Continue reading

Our New ‘Tough Oil’ World – The Truth About Gas Prices

Our New ‘Tough Oil’ World

Michael T. Klare, Op-Ed: “Oil prices are now higher than they have ever been—except for a few frenzied moments before the global economic meltdown of 2008. Many immediate factors are contributing to this surge, including Iran’s threats to block oil shipping in the Persian Gulf, fears of a new Middle Eastern war and turmoil in energy-rich Nigeria. Some of these pressures could ease in the months ahead, providing temporary relief at the gas pump. But the principal cause of higher prices—a fundamental shift in the structure of the oil industry—cannot be reversed, and so oil prices are destined to remain high for a long time to come.”

The Truth About Gas Prices

Bill Scher, Op-Ed: Conservatives are betting that a President Obama can’t succeed in talking straight about gas prices the way Candidate Obama did. First, they are exaggerating the price spike itself, saying that under Obama’s presidency, prices have jumped from $1.83 to $3.70 per gallon. That is technically true, but remember, in the summer of 2008 gas was over $4 a gallon. Prices briefly plummeted below $2 per gallon right before Obama’s inauguration because there was this little cataclysmic global economic meltdown that shattered consumer demand.

— Post #1198

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