NYT Claims European Firms Make Location Decisions Based on Spot Energy Prices

Everyone who pays even casual attention to energy prices know that they fluctuate dramatically. The price of a barrel of oil soared from around $40 in 2004 to a peak of $150 in 2008, then fell back under $40 briefly in the wake of the economic collapse later that year. While this run-up and crash was extraordinary, large fluctuations are not. This is why it is surprising to see the NYT tell us that many European manufacturers are planning to move their operations to the United States based on...