Minerals Price Increases and Volatility: Causes and Consequences (CRS Report for Congress)
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| Release Date |
Oct. 3, 2008 |
| Report Number |
RL34695 |
| Report Type |
Report |
| Authors |
Stephen Cooney, Coordinator, Resources, Science, and Industry Division |
| Source Agency |
Congressional Research Service |
Summary:
Congress has become concerned with the rise in mineral prices and the effectson the U.S. industrial economy. Of course, the rise in price of petroleum and othermineral fuels has been a subject of great public concern and front page news. Butmany manufacturers, and others in industries such as construction, have been at leastequally concerned about recent surges in the price rises, especially in 2007-08, insteel and other metals. In the short run, Congress will consider the effect of highermaterial costs in public contracts, particularly in infrastructure projects financed byfederal resources. More indirectly, the federal budget and domestic economic growthare being affected by layoffs and employment contraction as industries are hit by thedouble effects of slower economic growth and higher metal materials input costs.
