To paraphrase Orange Julius Caesar, "if you don't have iron ore and bauxite, you don't have steel or aluminum". And, one might add, to turn bauxite into aluminum eats prodigious amounts of electricity.

CSIRO calculate that the embodied energy (all the energy used to make the material) for aluminium is 211 GJ per tonne, compared to 22.7 GJ per tonne for steel.

Not for nothing, our economy would rather burn all that electricity on bitcoins. Make sense to you?

As to base ore endowment, the USofA has nearly no bauxite and has depleted iron ore to about the noise level. Without imports, we don't have industry.

Here's iron reserves. And, bauxite; you're not missing something, the USofA isn't listed.

However, since 1981, none of the bauxite mined in the US was used to make metallic aluminium. US bauxite is instead used for abrasives, high-temperature refractory materials, and as a high-strength proppant for hydraulic fracturing of oil and gas wells.

Besides announcing tariffs while "unglued", there really, really isn't viable US supply. Moron.

Views: 77

Comment by koshersalaami on March 3, 2018 at 11:33pm

That's too funny

Comment by J.P. Hart on March 4, 2018 at 12:34am

President DJ Trump___Periodic Table Expert?!

Fingers crossed here that Kid Rock is serious!

JH

(huddled in a boxcar, Dixon, IL)

Comment by MarkinKentuckiana on March 4, 2018 at 1:53pm

Krugman in NYT today pointed out that given the unemployment rate, there aren't enough workers looking for jobs to be able to produce them even if we had raw materials and mills ready to go.

Comment by Robert Young on March 4, 2018 at 2:17pm

Krugman doesn't often get it really wrong, but he is wrong about the unemployment situation.  I don't recall whether I posted here too, but I've squawked about this a number of times.  the "standard" rate is U3, and until the Great Recession was a stable measure.  since then it hasn't been.  the problem is part-time and discouraged workers numbers have risen sharply at and since the Great Recession; they're counted in U6.  if you look at U3 and U6 over the last 6 or 7 decades, you'll see that the spread has widened, and remains so.

a discussion:  https://en.wikipedia.org/wiki/Unemployment#United_States_Bureau_of_...

also, long term unemployment remains higher than previously.

"But the hidden story is the unprecedented levels of long-term unemployment. The average unemployed person is out of work for 24.9 weeks, compared to an average duration of 12.8 weeks the last time the unemployment rate was at 4.3 percent, in March 2001."

here:  https://tcf.org/content/commentary/despite-continued-job-growth-lon...

Comment by J.P. Hart on March 5, 2018 at 8:41am

Away! Away!
Always good to hit the ground sunning here at Robert Young's!

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