Tuesday, March 26, 2013

Same Ol', Same Ol', -- European Companies Setting Up Factories Where Energy Is Cheap; Austrian Company Setting Up Shop in Texas

Reuters is reporting:
When Wolfgang Eder and his team started looking around for a site for a new plant for Voestalpine, the Austrian steelmaker he heads, they had 17 sites in eight countries on their list.
This month, after more than a year of looking, they settled on the U.S. state of Texas, after a boom in the production of natural gas from shale extraction brought gas prices down to just a quarter of what companies paid in Europe.