A new study from Boston Consulting Group shows the U.S. is making significant progress in regaining its position as the world’s manufacturing leader. The report suggests the gap between the U.S. and China is closing as China and other nations are losing their competitive edge over the U.S. thanks in large part to our abundant supply of affordable energy.

A new study from Boston Consulting Group  shows the U.S. is making significant progress in regaining its position as the world’s manufacturing leader. The report suggests the gap between the U.S. and China is closing as China and other nations are losing their competitive edge over the U.S. thanks in large part to our abundant supply of affordable energy.

CNBC reports, “Higher energy costs also are dampening China’s manufacturing prowess. The cost of industrial electricity rose by about 66 percent in China and 132 percent in Russia. The cost of natural gas soared by about 138 percent in China and 202 percent in Russia from 2004 to 2014, according to Boston Consulting research….” And according to CBS Money Watch, “Perhaps the biggest sign of this change: As China has modernized, its estimated advantage in manufacturing costs over the U.S. has declined to a less than five percent. Last year, the U.S. Bureau of Labor Statistics noted that utility costs in China had risen 15 percent between 2010 and 2011.”