Surging Energy Costs Forcing US Companies to Scale Back Operations

[Buncheong]

“600 workers at the second-largest aluminum mill in America, accounting for 20% of US supply, learned they were losing their jobs because the plant can’t afford an electricity tab that’s tripled in a matter of months. Century Aluminum Co. says it’ll idle the Hawesville, Kentucky, mill for as long as a year, taking out the biggest of its three US sites.”

https://www.bloomberg.com/news/articles/2022-07-07/high-power-costs-force-us-industrials-factories-to-shut

[Alpha-17]

Interesting. My dad works at an aluminum extrusion plant (taking aluminum logs and turning them into everything else) and they've been backlogged for a while with business. If their source of aluminum logs dries up, or has to divert material elsewhere, that's going to hurt big time.

[DG23]

Can't we just print some more money and pay the electric bills for them?

Paper and ink are cheap right???

[Outlander Systems]

The USG will be calling you soon with a job offer.


Can't we just print some more money and pay the electric bills for them?

Paper and ink are cheap right???

[prepare]

Anyone noticed the spiral affect this downturn is having?

And its global...

Its being reported that this time next year a billion people will be hungry...

[flenna]

It’s all part of the plan.

[ddbtoth]

Anyone noticed the spiral affect this downturn is having?

And its global...

Its being reported that this time next year a billion people will be hungry...
I really hope this is planned. If not, we are really screwed.

[SteyrAUG]

So hope they are laying off the Green People first.

[Coal Dragger]

I guess shutting down all that reliable, abundant, low cost coal fired power generation has a real cost.

Sometimes people need to be given what they ask for good and freakin’ hard.

Just think how much fun it will be of myself and my RR colleagues can finally go on strike later this summer. Hopefully we can, big RR’s need to be taught a lesson.

[Twilk73]

“600 workers at the second-largest aluminum mill in America, accounting for 20% of US supply, learned they were losing their jobs because the plant can’t afford an electricity tab that’s tripled in a matter of months. Century Aluminum Co. says it’ll idle the Hawesville, Kentucky, mill for as long as a year, taking out the biggest of its three US sites.”

https://www.bloomberg.com/news/articles/2022-07-07/high-power-costs-force-us-industrials-factories-to-shut

Why not raise the prices? Are they competing against forging competition?

[Alpha-17]

So, small update, I talked to my dad and he doesn't think this will really impact them all that much. Apparently, they have their contract for the year to get their aluminum logs from Dubai, and that's been their main source for many years. The lack of competition might drive up the price for the next contract, or possibly push more business their way (because their competition can't get the material they need) but otherwise, this shouldn't impact them.

[Averageman]

Business being business. Farming here is business and I used to know and work for a lot of small Farmers.
Now it's been decades since I've done that work, but I remember some dark times when Jimmy Carter was POTUS and oil was crazy high.
These guys took out loans harvested at a loss and some of them took ten years to pay it back or just sold out to bigger farms
You wait, shits going to rot in the fields rather than this generation of Farmers taking it up their third point of contact to keep Farming.

[rero360]

I know our costs for stock, primarily mild steel, aluminum and titanium have sky rocketed and lead times to get it delivered has gotten longer and longer.

[1168]

Business being business. Farming here is business and I used to know and work for a lot of small Farmers.
Now it's been decades since I've done that work, but I remember some dark times when Jimmy Carter was POTUS and oil was crazy high.
These guys took out loans harvested at a loss and some of them took ten years to pay it back or just sold out to bigger farms
You wait, shits going to rot in the fields rather than this generation of Farmers taking it up their third point of contact to keep Farming.
I’ve noticed that several small farms in SC switched to wheat this year. I’ve never seen wheat there before.

[Averageman]

I'm just saying alot of young Farmers saw their Dads take a real beating trying to keep those family farms in the Family.
I don't think you'll see that level of sacrifice again. I can remember sitting down with a friend's Dad who was a forth generation Farmer and he was nearly in tears when he had to sell out, move and go find a factory job.
You're not going to see that this time.