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The Trump Economy


GG

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Already a broken promise by Trump to steel workers.

 

“We put you heavy into the pipeline business because we approved, as you know, the Keystone Pipeline, but they have to buy ... steel made in this country and pipelines made in this country,” Trump told U.S. Steel Chief Executive Mario Longhi at a Feb. 23 meeting.

 

The Keystone XL Pipeline will not be subject to President Donald Trump's executive order requiring infrastructure projects to be built with American steel, a White House spokeswoman said today. Trump signed the order calling for the Commerce Department to develop a plan for U.S. steel to be used in “all new pipelines, as well as retrofitted, repaired or expanded pipelines” inside the U.S. projects “to the maximum extent possible.” By the White House’s judgment, that description would not include Keystone XL, which developer TransCanada first proposed in 2008.

http://www.politico.com/story/2017/03/keystone-pipeline-buy-american-exemption-235639

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I'm old enough to remember when Obama said we "couldn't drill our way out of our energy problems"

 

American Shale Ready to Take On Petrostates.

 

The U.S. shale boom is back and better than ever. After weathering a collapse in crude prices that saw the value of a barrel of oil drop from more than $110 in June 2014 down below $30 in January 2016, American fracking firms (the ones that survived, that is) are looking fit once again. As Bloomberg reports, these companies are already taking advantage of a petrostate production cut that ceded valuable market share and pushed oil prices back above $50 per barrel. . . .

 

So now, nearly three years after a global glut sent oil prices into a tailspin and American oil producers to their nearest lenders, U.S. oil production is once again floating above 9 million bpd. And as positive as this is for both the American economy and our country’s energy security, it’s a major threat to oil-soaked states both inside and out of OPEC. Those petrostates banded together late last year to finally agree on a production cut, and they managed to induce a price rebound of roughly $10 per barrel as a result. Now, however, their worst fears are being realized: U.S. shale producers are seizing the opportunity and bringing rigs out of retirement.

 

 

 

 

I’m beginning to wonder if that Obama fellow knew what he was talking about.

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Remington Arms Co. reportedly is laying off about 120 workers at its gun manufacturing plant in Herkimer County.

WIXB950 said Wednesday that employees at the Ilion factory, Herkimer County's largest employer, reported that approximately 120 workers "are being shown the door."

The radio station said a company letter addressed to employees stated that 122 union positions were being cut from Ilion and 16 workers were being laid off from the Remington's plant in Lexington, KY. CEO James Marcotuli blamed slowing orders and increased inventory for the cuts, the station said.

The Washington Post reported earlier this week that gun sales nationwide have slowed dramatically since Donald Trump's election as president.

http://www.syracuse.com/news/index.ssf/2017/03/remington_arms_laying_off_120_in_upstate_new_york_report.html#incart_river_home

Thanks Trump. If only we still had Obama to finish taking away everyone's guns and restore demand.

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ADP: Get ready for a “blowout” month of job creation

 

Has Donald Trump already begun to usher in a new era of job creation? The White House will certainly advance that argument after seeing today’s ADP report on job growth in February, Trump’s first full month as president, and ADP’s analyst gives them some ammunition for that claim. The report came in 100,000 jobs higher than analysts’ expectations at 298,000 — “an absolute blowout,” CNBC announced:

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ADP: Get ready for a “blowout” month of job creation

 

Has Donald Trump already begun to usher in a new era of job creation? The White House will certainly advance that argument after seeing today’s ADP report on job growth in February, Trump’s first full month as president, and ADP’s analyst gives them some ammunition for that claim. The report came in 100,000 jobs higher than analysts’ expectations at 298,000 — “an absolute blowout,”[/size] CNBC announced:[/size]

Obama did it

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