Space Industry and Business News  
TRADE WARS
Texas presses Trump on aluminum, steel tariffs
by Daniel J. Graeber
Washington (UPI) Jun 29, 2018

A Texas oil and gas trade group applauded the state's governor for calling on President Donald Trump to consider the negative industry impacts of tariffs.

"To maintain our energy dominance and continue meeting the energy needs of our nation and beyond, we need to be able to move unprecedented volumes of oil and natural gas to Texas refining complexes and the Gulf coast," Todd Staples, president of the Texas Oil & Gas Association, said in a statement emailed to UPI. "That means we need pipelines -- lots of them -- that are made from specialty steel that isn't produced in large quantities in the United States."

The Trump administration's tariffs on aluminum and steel frustrate his plans for energy dominance. The United States is on pace to become the world's largest oil producer. Output from one basin -- the Permian shale -- in the southern United States will account for 60 percent of world total production growth by 2023.

The United States is now an oil exporter, though infrastructure necessary to move oil to the market can't keep up with production trends. A report from consultant group IHS Markit found it was the lack of infrastructure, not the lack of spending on exploration and production, that presented a growth challenge for U.S. shale.

Texas Gov. Greg Abbott, a Republican, said in a letter to President Trump that if the steel and aluminum tariffs lead to a cost increase for domestic oil and gas production, it would significantly impair the president's energy sector objectives.

"I highly commend your commitment to curbing unfair trade practices and putting American businesses and workers first," his letter read. "As your administration continues to champion these businesses and workers, please consider the negative impact that the new tariffs on steel and aluminum imports and other goods will have on the economy of Texas and the nation as a whole."

Abbot said estimates show that for every job saved by tariffs, at least one job is lost in the oil and gas sector.

Concerns about the lack of infrastructure were raised outside of Texas, the No. 1 oil producer in the country. The Office of State Planning and Budgeting in Colorado said oil production there was holding at near-record highs, supported by relatively higher crude oil prices. Pipeline limitations near the main U.S. oil storage hub in Cushing, Okla., however, are expected to constrain further growth of Coloradan oil production in the near term.


Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


TRADE WARS
US trade war upends China's economic balancing act
Beijing (AFP) June 29, 2018
China's government is facing a multi-front battle to defend its economy, fighting to reduce its debt mountain while the yuan and local stock markets tumble in the face of a US trade conflict. With the Trump administration preparing to roll out tariffs on some $34 billion of Chinese imports next week, the Shanghai Stock Exchange is taking a nosedive - down some eight percent in the last two weeks before recovering on Friday. The yuan has also come under pressure, falling to its lowest rate again ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
Lone water molecules turn out to be directors of supramolecular chemistry

From face recognition to phase recognition

Rutgers physicists create new class of 2D artificial materials

The right chemistry, fast: employing AI and Automation to map out and make molecules

TRADE WARS
New Land Mobile Technology Driving The Need For Modern Satcom Capabilities

On-the-move communications system set to field this fall

Lockheed Martin's 5th AEHF comsat completes launch environment test

IAP Worldwide Services tapped for satellite systems

TRADE WARS
TRADE WARS
Russia launches Soyuz-21b with Glonass-M navigation satellite

China's Beidou system helps livestock water supply in remote pastoral areas

UK says shut out of EU's Galileo sat-nav contracts

Woman drowns in Prague drains playing GPS treasure hunt

TRADE WARS
UK lawmakers approve expanding London's Heathrow airport

Lockheed wins more than $1 billion for F-16 production

V-22 Ospreys to receive ballistic protection panels

Turkey gets first F-35 delivery from US

TRADE WARS
This is what a stretchy circuit looks like

Rare element to provide better material for high-speed electronics

Less is more when it comes to predicting molecules' conductivity

The right squeeze for quantum computing

TRADE WARS
Sentinel-3 flies tandem

New method makes weather forecasts right as rain

UCI scientists find new teleconnection for early and accurate precipitation prediction

New NASA instrument on ISS to track plant water use on Earth

TRADE WARS
Wastewater treatment plants are key route into UK rivers for microplastics

Japan passes anti-plastic law but with no sanctions for polluters

Delhi reels as summer haze catches Indian capital off guard

EU Parliament to phase out plastic water bottles









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.