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Strategies & Market Trends : Strictly: Drilling II
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To: t4texas who wrote (9976)3/25/2002 3:28:06 PM
From: Louis V. Lambrecht  Read Replies (2) of 36161
 
t4 - it also appears the european steel companies are either subsidized or partially owned by the governments there

Obviously, American investors are better informed than we liberal Europeans are about state ownership.
Please inform me.
I must be misinformed and made to belief (obvious European liberal propaganda) that we have a Competition Directorate (our name for a state department) which role is to check compliance with several treaties by which any form of state subsidie has become illegal. A bailout package is illegal in Europe. Low cost credits are considered as subsidies and are illegal.

As for the US tariffs on steel, all what I said was, that the steel that cannot be dumped in the US, will now be dumped at even lower prices in Europe.
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