I snipped the above image from Yahoo’s finance page (https://finance.yahoo.com/). Here is the article, Trump isn’t so good for business after all. Stocks have soared since President Donald Trump took office, and they soared today. Should we pay attention to the people who are stating their opinions with their own money, or should we listen to people who buy ink by the barrel and insist upon telling us what to think?
Here is the speech Trump gave on the deal. It starts off with brief little presentation of the facts and an introduction by Vice President Mike Pence. Then Trump starts speaking and slowly warms to his subject. It gets better and better and better.
Let’s see: the energy industry has steadily been reducing its interests in coal since the increased exploitation of natural gas and fossil fuel. Add the introduction of new mining technology, the only way Trump could reasonably bring back coal jobs that have been disappearing since the early 20th century is by banning all mining extraction tools except pickaxes as well as place more restrictions on alternative fuel sources.
Coal is an energy source that is expensive to extract and expensive to transport and steadily becoming outmoded as the industries that used to rely on coal–transportation and manufacturing–are updating their tech to be served by cleaner burning natural gas or renewables. In fact, Virginia power companies were using the federal incentive that Trump rolled back to improve their renewable energy infrastructure and potentially save customers $1.3 billion. This expansion would also see tens of thousands of new jobs for the next ten years at least. But all this must be sacrificed so that the 70 thousand coal miners in seven states and essentially subsidize the whole industry by stymieing what the energy companies actually want to do i.e. expand their energy horizons.
Furthermore, this move is entirely symbolic. Trump already de facto exited the Paris Agreement when he rolled back the regulations intended to meet the terms. Furthermore, he can’t get out of the agreement until 2020 anyway which, by that time, there could be a new president who could say, “Nope, we are staying in.” So he is banking on two things: the first is that people are stupid and won’t notice that this move is entirely symbolic though no less insulting to literally every other country in the world with a functioning government; and second that he will be reelected. In truth, he can only really rely on the former.
I actually watched this whole thing… thanks for posting it as I had missed seeing it earlier.
I don’t agree with any of his conclusions… and that last guy who spoke did absolutely nothing but rah-rah Trump’s existence on the planet.. which seemed a bit strange but I understand Trump needs this moral support. In any case, it’s all said and done.. no sense belaboring anything.
You might want to keep in mind as you echo the faults of big business (as your title suggests your agreeing with Trump snubbing corporate America) it’s big business that’s going to employ all those people who have been crying in the wilderness for so long and not being heard.
Well, I am pleased you listened. Thank you.
you know Tom—numbers will not lie
Reblogged this on CELONA'S BLOG and commented:
Was there ever a cooperate America?
Thanks for the reblog.