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Trump’s America First Energy Plan Laid Out

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President Donald Trump was sworn into office on Friday. His speech gave us some insight into his presidency, showing us that Campaign Trump isn’t going to change now that he’s President Trump. The 45th President reiterated his promise to “drain the swamp”, looks poised to build up defense spending again, and signed a bill to remove minimum time limits allowing retired Gen. James Mattis to serve as Defense Secretary. But without any mention of some issues, Trump made his stances clear on them by removing those topics from the White House’s website. One notable absence was Climate Change, which has now been replaced with Trump’s new America First Energy Plan. What can we expect from the new plan?

Here’s Trump’s Energy Plan… In a Nutshell

President Trump has openly stated he does not believe in climate change or global warming. As such, it’s no surprise that he replaced that piece of the White House website with a two page, seven-paragraph outline of his new energy plan. Trump states the new plan will invigorate the economy by creating thousands of jobs while simultaneously making the U.S. less reliant on foreign energy sources. The plan also focuses on eliminating “burdensome” regulations concerning the energy sector.

The new plan suggests stimulating the economy by adding $30 billion in jobs and increased wages over the next seven years by removing restrictions on about which waterways and lands can be drilled. The main restriction lifted would be The Waters of the U.S. Rule, which outlines the waterways under the protection of the EPA and the U.S. Army Corps of Engineers. Supporters of the Waters Rule say it would reduce greenhouse gas to 17% below 2005 levels by 2020. However, critics, including Trump, think it’s a power play by democrats in Washington.

The main focus of the plan will be to embrace fossil fuels. The plan specifically highlights increasing clean coal technology, saying the coal industry has been “hurting too long”. The new plan aims to take advantage of the $50 billion in untapped reserves on federal lands, embracing oil and gas.

So what does this mean for investors?

 

Here’s a  video from Trump’s inaugural speech from Arirang News:

Put simply, the next 4-8 years will be focused on fossil fuels as this country’s primary energy source. This is the perfect time to invest in energy companies, as Trump has clearly made his new plan a priority. Expect the energy sector as a whole to soar.

 

Get the latest news on Trump’s treasury secretary, Steve Mnuchin fail here.

 

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5 Comments

5 Comments

  1. Avatar

    greenlantern1

    January 23, 2017 at 10:45 AM

    He has already nominated Jeff Sessions for president!
    Our ONLY, jailed, attorney-general was Nixon’s first, John Mitchell!
    Our ONLY, fired, special prosecutor was Archibald Cox!
    Who fired him?
    Attorney-General Robert Bork!
    Didn’t Sessions try to elevate him to the Supreme Court?
    Didn’t Nixon’s VP, Spiro Agnew, enter a plea bargain?
    Law?
    Perfectly clear?

  2. Pingback: Delta Crashes... Air Line Nosediving?

  3. Pingback: Dakota Access Pipeline Just the First Step in Trump's Energy Plan

  4. Pingback: Trump's America First Plan Pushes Military at Expense of Environmental Protection

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Automobiles

Pump Prices to Edge up After Attack on Iranian General, but Long-Term Effect Unclear

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By Jeff Ostrowski, The Palm Beach Post, Fla.

Motorists soon will see the effects of President Donald Trump’s decision to kill a prominent Iranian general. Whether pump prices rise a little or a lot depends on how quickly international tensions intensify.

Florida gas prices climbed an average of 7 cents a gallon in the past three days and could increase an additional 5 cents, AAA – The Auto Club Group said Monday.

The 7-cent increase was coming even before the U.S. air strike Thursday that killed Iranian Maj. Gen. Qassem Soleimani. That hike was a result of a rise in the price of crude oil in December.

News of the targeted killing of Soleimani sent crude oil surging nearly $2 per barrel on Friday. An increase of that magnitude typically translates to a 5-cent hike at the pump, AAA said.

The U.S. benchmark for crude oil traded Monday just above $63 per barrel, the highest level since May 2019. The price of oil makes up about half the price of a gallon of gas.

“What happens in the Middle East can have a direct impact on Americans’ daily lives by influencing what they pay at the pump,” said AAA spokesman Mark Jenkins. “Crude prices rise when there’s a threat of war, because of concerns over how the conflict could hamper supply and demand.”

Oil analyst Tom Kloza of energy firm OPIS agreed that pump prices in Florida likely will rise about 5 cents a gallon in the coming days.

“Then I have a hunch that things are going to calm down,” Kloza said Monday. “I don’t think we’re looking at $3 gas.”

The national average pump price Sunday was $2.585, while the Florida average was $2.526, AAA said.

Kloza expects only modest increases in part because of the timing of the attack. January is always a slow month for gas consumption in the United States.

There’s also the reality that sanctions leave Iran unable to export oil. Complicating the calculus is Iraq’s response to the U.S. attack. The drone strike on Soleimani took place in Baghdad, and some Iraqi politicians considered the assault an affront to Iraqi sovereignty.

While there’s no Iranian oil supply to be disrupted by a war, Iraq is an important producer.

Trump keenly watches oil prices and realizes that a price spike might erode his support in this year’s presidential election, Kloza said.

At the same time, Kloza added, “This president has proven to be unpredictable.”

Trump’s response has been typically uneven. Delivering an official statement at the Mar-a-Lago Club in Palm Beach, Trump’s tone was measured. He said the targeted killing was designed to pre-empt Soleimani’s planned attacks on American diplomats and soldiers.

“We took action last night to stop a war,” Trump said Friday. “We did not take action to start a war.”

However, over the weekend, Trump took to Twitter to threaten attacks on Iranian cultural sites.

“The United States just spent Two Trillion Dollars on Military Equipment,” Trump wrote Sunday on Twitter. “We are the biggest and by far the BEST in the World! If Iran attacks an American Base, or any American, we will be sending some of that brand new beautiful equipment their way…and without hesitation!”

##IFRAME_1##Iran has vowed vengeance, but military experts say the nation isn’t powerful enough to wage a direct war against the U.S.

“It’s still far too early to know how much of an impact this conflict will have overall on prices at the pump,” AAA’s Jenkins said.

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Economy

Stocks Rally Despite Impeachment News

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Stocks rose on Thursday as investors looked past the news of President Donald Trump’s impeachment as well as mixed U.S. economic data.

The Dow Jones Industrials advanced 53.85 points to begin trading at 28.293.13

The S&P 500 recovered 4.93 points to 3,196.07

The NASDAQ added 19.39 points to Wednesday’s all-time record, at 8,847.12.

The S&P 500 is up nearly 7% since House Speaker Nancy Pelosi launched a formal impeachment inquiry in September.

Cisco Systems was the best-performing Dow component, rising 1.6%. The consumer staples and real estate sectors led the S&P 500 higher, gaining 0.4% each. Micron Technology shares also contributed to Thursday’s move higher. Conagra shares surged more than 14% and were on pace for their biggest one-day gain since Oct. 16, 1989.

Micron shares climbed 3.5% on the back of strong quarterly results. The chipmaker posted earnings per share and revenue that topped analyst expectations.

On the economic data front, weekly jobless claims fell to 234,000 from 252,000 the week before. However, economists expected claims to fall to 225,000.

Meanwhile, the Philadelphia Federal Reserve’s business conditions index fell to 0.3 in December from 10.4 in the previous month. Economists expected the index to slip to 8.

The Democrat-led House of Representatives voted Wednesday to impeach Trump for abuse of power and obstruction of Congress. Trump became only the third president to be charged with high crimes and misdemeanors and will now face a trial in the Republican-controlled Senate.

Prices for the 10-Year U.S. Treasury were lower, raising yields to 1.94% from Wednesday’s 1.93%. Treasury prices and yields move in opposite directions.

Oil prices gained seven cents to $61.00 U.S. a barrel.

Gold prices moved forward $1.80 at $1,480.50 U.S. an ounce. Copyright © 2019 Baystreet.ca Media Corp. All rights reserved.

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401 K

Senator Rand Paul: Pay Off Your Student Loans With Your 401k

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Senator Rand Paul says you should pay for your student loans with your 401k. Paul’s new legislative proposal, the HELPER Act (Higher Education Loan Payment and Enhanced Retirement), would allow benefits like tax-free money for college, tax-free employer-sponsored plans, no cap on student loan interest deduction, and many others. Essentially, it would allow students and parents to withdraw retirement funds to settle expenses for college.

The act “would allow Americans to take out up to $5,250 from a 401(k) or IRA tax- and penalty-free each year to pay for college or make monthly student loan payments,” explained CNBC.

According to Forbes, “Paul seeks to reshape the way people save and pay for higher education, driven through tax and savings incentives.” He notes that “the current student loan interest rates can be as high as 7% for graduate students and parent borrowers.” Student loan refinancing rates, on the other hand, have dropped to below 2%.

Paul’s critics will likely note objections such as removing money from a retirement account for any purpose that is not related to retirement may not be a wise financial move; many students cannot both save for retirement and pay off student loans; and the annual amount may not be enough to help borrowers make a meaningful impact.

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