Just nine years ago, the price of oil was $10 per barrel and now it's $140 per barrel. Result: a 267% increase in shipping cost. Holy crap. No wonder that companies are beginning to manufacture at home.
As the cost of shipping continues to soar along with fuel prices, homegrown manufacturing jobs are making a comeback after decades of decline.
While it once cost $3,000 to ship a container from a city like Shanghai to New York, it now costs $8,000, prompting some businesses to look closer to home for manufacturing needs.
Too bad our economy is in the (oil) tank; most folks can't afford to purchase the stuff anyhow.