Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: t4texas who wrote (9881)	3/25/2002 2:35:48 AM
From: nspolar	Read Replies (2) of 36161

Who Knows Steel? What I have a hard time understanding is why the US can not compete. I know little about the steel industry. It appears to be a very capital intensive. If so it looks like the US and Canada should do okay, on a world wide basis. Yet it appears steel slowly goes the route to lesser developed countries. Why? Easy IMF financing? Lax environmental laws perhaps? It is hard to understand how as Cramer once put it (even though he is full of BS more than once a year), a steel mill ain't worth a bucket of spit, yet it costs zillions to build. On the other hand we have the market caps of some tech cos, lot smaller now than they were, but many are still high. Doesn't add up, but things are usually cheap for a reason. Anyone here know the answers? The oil industry is also very capital intensive. Is it going to go the same way?

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