There was a great exchange between Houston-area Congressman Pete Olson and Marlin Steel President Drew Greenblatt during a joint hearing of subcommittees of the House Energy and Commerce Committee on Capitol Hill yesterday.
"Mr. Greenblatt, I'm thrilled to hear about the growth of your company in Baltimore ... and I'm wondering how to bring your business to Texas," the congressman said. "I love the fact, too, that you're exporting to China."
He asked if the recently untapped natural gas resources in America would lower energy prices enough to attract foreign manufacturers to open facilities in the U.S, helping to reverse a generation of "outsourcing" that led U.S. companies to open plants in Asia in pursuit of cheap labor.
"I think lower energy cost is going to create a boom in foreign direct investment," Marlin Steel's president told the subcommittees on Energy and Power, and Commerce, Manufacturing and Trade. "I think many companies ... look at the globe and think of us differently and in a very positive way because of our cheap energy prices."