(rescued from April05) Further on my article 'sensible measures' .

After attending a coal industry dinner last night, I have realised that the other factor which will sometime soon make Chinese goods slightly less competitive with Europe is electricity prices. At the moment they are held at an artificially low rate, which is unsustainable. It may take some time, but they will eventually float and rise to reflect the increases in oil prices. Apparently Goldman Sachs think oil could go up to $100 a barrel....