[Marxism] More liberal wisdom on oil

S. Artesian sartesian at earthlink.net
Mon Jun 30 17:56:17 MDT 2008

One more thing, we really need to look at regarding iron ore prices is---  
shipping costs.  Baltic Dry Index, after tumbling in November is above 
previous record highs-- shipping costs are approaching 30-40% of the price 
of the commodity for certain bulk shipments. That was part of the reason I 
posted the reference to the FT article on P&G whose transportation costs now 
exceed factory operating costs.

I am not certain, but I think shipping costs are paid up front by the ore 
producers.  Would appreciate it if anybody has confirmation (or the 

But.....dry bulk shipping  tonnage under construction and scheduled to 
become operational in the next 3 years is also at a record level, and 
despite my record at prediction (Carter will beat Reagan, Yankees in 7 over 
Arizona) I will hazard a guess that there is going to be a big, big 
recession and prices for shipping and basic commodities will tumble.  And 
Carter will beat Reagan.

----- Original Message ----- 
From: <bauerly at yorku.ca>
To: <sartesian at earthlink.net>
Sent: Monday, June 30, 2008 6:55 PM
Subject: Re: [Marxism] More liberal wisdom on oil

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