I was researching why the price of M2 tool steel is so high. The M-type tool steels are high in molybdenum content, an alloying element that is surging in price. Apparently it is used quite a bit in oil extraction piping and delivery systems. The construction of the $20-billion Alaskan Oil Pipeline will push this price close to $60 per pound, just one among many economic or environmental impacts.
http://www.canada.com/national/nationalpost/financialpost/story.html?id=78be10b9-86e8-432c-82c6-93ebd3aa1af7
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