We're creating new supply for the world, which is key. If we didn't get more tonnes into the system, your next motorcar is going to cost more because the aluminum cost is going to be higher.
Sentiment: NEGATIVE
I strongly believe that for the steel prices to be market-driven, without distortions, we need to substantially increase the production capacity.
The cost of motoring is a massive issue at the moment, there's no question. The price of petrol goes up every time you go to the petrol station.
We need to do more to conserve fuel or face tougher choices such as steep price increase or even quantitative restrictions.
There is no reason why, with the huge potential for market out there in the world for fuel-efficient vehicles, we can't be the cutting edge for change.
Well, for starters, we have to do more to create demand for new technologies that can reduce our dependence on foreign oil and environmental degradation.
I tend to look at things from the supply side, looking for ways to make it less expensive to do more production. I think that's what creates a demand and keeps an economy moving.
We have gasoline at $2 a gallon. If that doesn't drive demand, I don't know what will.
We have done a lot of work on cost reduction, getting ourselves lean, reducing our breakeven, reducing our fixed cost and increasing exports. All of these factors help because our export basket is not just automotive but also includes industrial products, railways and others.
There is a supply for every demand.
One of the things that we can say with confidence is that we will have much lighter, much stronger materials, and this will reduce the cost of air flight, and the cost of rockets.
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