If you subtract out the taxes that are levied on fuels like gasoline, the price of fuel around the world is actually pretty flat. Most countries pay about the same price. One big exception is China, where the government subsidizes the price of fuel. It’s very low compared to everywhere else.
The thing that I am wondering about is this: how much less is the fuel cost to move a tanker from China to the U.S. than the other way ’round?
I don’t know what to do about it, but it seems an unfair advantage both for producing goods and transporting them.
UPDATE. 6-19-2008. Well, it’s 5 days since I wrote those words. And the Chinese government just raised the price of gas. Is this one of those chaos theory butterfly effect dealies? Either that or I am completely creeped out by Chinese data mining techniques. Oh. Could just be coincidence.