Trump Administration's Infrastructure Plan Taking Shape
The Trump administration is finalizing its long-awaited infrastructure plan, which would push most of the financing of projects to private investment and state and local taxpayers, according to sources familiar with the proposal taking shape. President Donald Trump, who spoke frequently of improving U.S. infrastructure during his 2016 campaign, may preview the plan in his Jan. 30 State of the Union address, but details are not expected until afterward, the sources said. Two people…
Trump Offshore Oil Proposal Could Unlock 65 Bln BOE
The Trump administration's proposal to open up almost all of U.S. offshore waters to oil and gas drilling could unlock up to 65 billion barrels of oil equivalent (boe), attracting billions of dollars in investment, consultancy Rystad Energy said. Last week, U.S. Interior Secretary Ryan Zinke said a draft program would make over 90 percent of the outer continental shelf's total acreage available for leasing to drillers, a national record. "Looking purely at areas that are potentially going to come out of restriction…
Weather Disasters Cost US $306 Bln in 2017 -NOAA
Weather and climate-related disasters cost the United States a record $306 billion in 2017, the third-warmest year on record, the U.S. National Oceanic and Atmospheric Administration (NOAA) said on Monday. The report from the federal agency underscores the economic risks of climate change, even as President Donald Trump's administration casts doubts on the causes of it and has started withdrawing the U.S. from a global pact to combat it. NOAA said western wildfires and hurricanes Harvey, Maria, and Irma contributed to making 2017 the costliest year on record.
After Florida, more States Press US for Offshore Drilling Exemptions
Governors and other officials from several U.S. coastal states ramped up pressure on the Trump administration on Wednesday to exempt their waters from an offshore drilling plan, hours after the Interior Department granted Florida's request to opt out. The backlash could complicate President Donald Trump's efforts to expand oil and gas production offshore. A proposed leasing plan unveiled last week aims to open up all U.S. coasts to drillers over the next five years. Alaska and Maine are the only two U.S. states whose governors have expressed support for the plan.
China Says US Warship Violated its South China Sea Sovereignty
A U.S. Navy destroyer this week sailed near the Scarborough Shoal, a disputed lagoon claimed by China in the South China Sea, U.S. officials said on Saturday, and Beijing vowed to take “necessary measures” to protect what it said was its sovereignty. China’s foreign ministry said USS Hopper missile destroyer came within 12 nautical miles off Huangyan island, better known as the Scarborough Shoal and subject to a rival claim by the Philippines, a historic ally of the United States. It was the latest U.S.
Trump Prohibits Dealings in New Venezuelan Government, PDVSA Debt
U.S. President Donald Trump signed an executive order prohibiting dealings in certain Venezuelan public sector debt on to pressure the government of President Nicolas Maduro to halt its "tyranny," the White House the White house said on Friday. The order prohibits dealings in new debt and equity issued by the Venezuelan government and by its state oil company, PDVSA. But the White House said the order allows Treasury to provide licenses for other commercial and humanitarian transaction, including financing for commercial trade, petroleum exports and imports and transactions that only involve PDVSA's U.S. unit, Citgo. (Reporting by David Lawder and Tim Ahmann)
Nominated China Ambassador Tough on South China Sea
U.S. President Donald Trump's nominee to be the U.S. ambassador to China took a tough line on Tuesday on China's development of "artificial islands" in the South China Sea. "China cannot be allowed to use its artificial islands to coerce its neighbors or limit freedom of navigation or overflight," Iowa's Republican Gov. Terry Branstad said at his U.S. Senate confirmation hearing. (Reporting by Patricia Zengerle)
Donald Trump Angered by Scotland Planning Decision
Consent for an offshore wind farm off Aberdeen, opposed by Donald Trump, has been granted by the Scottish government. The £230m development consists of 11 wind turbines. Mr Trump claims they would spoil the sea views for golfers on his course at Menie, where he also wants to build a 140-bedroom hotel. The European Offshore Wind Deployment Centre (EOWDC) project is a joint venture by utility company Vattenfall, engineering firm Technip and Aberdeen Renewable Energy Group (Areg). The project is aimed at providing enough energy for more than 49,000 homes. Source: BBC News
Wicker Meets With Trump’s Choice for Navy Secretary
U.S. Senator Roger Wicker, R-Miss., Chairman of the Senate Seapower Subcommittee, today met with Richard Spencer regarding his nomination to be President Donald Trump’s Secretary of the Navy. “Mr. Spencer and I had an encouraging meeting,” Wicker said. “I reiterated my commitment to helping the President and the Navy build a larger, more modern fleet that can meet growing demands around the world. I was pleased to learn that Mr. Spencer shares that goal. Wicker is leading the…
Trump Would consider Halting U.S. Oil purchases from Saudis
Republican presidential front-runner Donald Trump told the New York Times he would consider stopping U.S. oil purchases from Saudi Arabia unless the Saudi government provide troops to fight Islamic State. Trump's comment on Friday was included in a lengthy foreign policy interview published by the newspaper on Saturday and came in response to a question about whether, if elected president, he would halt oil purchases from U.S. allies unless they provided on-the-ground forces against Islamic State. "The answer is, probably yes," Trump said, according to a transcript.
Mexico Set to 'Mirror' Policy on Any US Trade Tax Change
Mexico's economy minister said his country was ready to renegotiate trade rules with the United States and that any change in U.S. tax policy that affected imports would have to be countered with a "mirror action" in Mexico. U.S. President Donald Trump told a meeting with U.S. executives on Monday that companies would face a "major border tax" if they shifted jobs outside the United States. Such a measure could affect Mexico's exports to the United States, its top trading partner. "If there is any action that punishes imports to the North American market and encourages U.S. exports, you have to reflect it in a mirror action to counteract the change of incentives that this would make for activity and investment in Mexico…
Trump, Trudeau to Discuss Trade on Monday
President Donald Trump will host Canadian Prime Minister Justin Trudeau on Monday, the White House said on Thursday, a meeting in which trade and a major crude oil pipeline are likely to be on the agenda. The meeting will be the first for the two men since Trump won last November's election. "President Trump and Prime Minister Trudeau look forward to a constructive conversation on strengthening the relationship between our two nations," the White House said in a statement. Canada sends 75 percent of its exports to the United States and is keen to avoid becoming the target of protectionist measures. Trump wants to renegotiate the trilateral NAFTA trade pact with Canada and Mexico, which he says has been disastrous for American workers.
Eni Begins Drilling Oil Well in Alaska's Beaufort Sea
Italian oil producer Eni this week began drilling a new well in U.S. waters off the north coast of Alaska, becoming the first company to do so since 2015, federal regulators said on Wednesday. The oil and gas firm is working from an artificial island in the Beaufort Sea about three miles off Oliktok Point in the Arctic Ocean. The well is expected to run more than 6 miles (10 km) long. The project could result in 20,000 barrels a day of oil production, according to regulator U.S.
Buzby Confirmed as MARAD Administrator
The U.S. Senate has confirmed Mark H. Buzby as the new administrator of the Maritime Administration (MARAD). MARAD executive director Joel Szabat had been serving in lieu of the administrator following the departure of outgoing administrator Paul “Chip” Jaenichen. Buzby, who was nominated by President Donald Trump in June, is a U.S. Merchant Marine Academy (USMMA) alumnus and retired U.S. Navy admiral with a military career spanning over three decades at sea and ashore. He was most recently president and CEO of National Defense Transportation Association (NDTA).
DP World not concerned about Trump protectionist policies
Dubai ports operator DP World is not concerned about U.S. President Donald Trump's protectionist policies, DP World's chairman Sultan bin Sulayem told reporters on Sunday. "Not at all. I think this is a phase. I think the sentiment that you see in America is ... in many parts of the world but this is something is going to pass," bin Sulayem said on the sidelines at a conference in Dubai. (Reporting by Alexander Cornwell, writing by Hadeel Al Sayegh; Editing by Toby Chopra)
US Aims to Prevent China from Taking Territory in International Waters
The new U.S. "I think the U.S. is going to make sure that we protect our interests there," White House spokesman Sean Spicer told a news briefing. Spicer was responding to a question as to whether Trump agreed with comments by his Secretary of State nominee, Rex Tillerson, on Jan. 11 that China should not be allowed access to islands it has built in the contested South China Sea. Tillerson's remarks at his Senate confirmation hearing prompted Chinese state media to say the United…
EPA Paves Way for Stalled Mine in Alaska
U.S. environmental regulators have cleared the path for a stalled copper and gold mine in Alaska by agreeing to settle current lawsuits and other issues over the project, which had drawn environmental concerns over its potential impact on the world's largest sockeye salmon fishery. U.S. The Pebble Limited Partnership mining company had filed a lawsuit against the EPA under the previous administration of Democratic president Barack Obama, which had sought to block it. Backers of the project had been hopeful that Obama's Republican successor, Donald Trump would allow it to proceed. Shares of Northern Dynasty Minerals Ltd , which owns the massive Pebble deposit, have surged since Trump won the U.S. election back in November. Trump took office Jan. 20.
Trump Troubled About Oil Flow into North Korea
U.S. President Donald Trump on Thursday said he was "very disappointed that China is allowing oil to go into North Korea" and that such moves would prevent "a friendly solution" to the crisis over Pyongyang's nuclear program. "Caught RED HANDED - very disappointed that China is allowing oil to go into North Korea. There will never be a friendly solution to the North Korea problem if this continues to happen!" Trump wrote in a post on Twitter. China earlier on Thursday said there had been no U.N.
Speaking at Newport News, Trump Calls for Navy Buildup
President Donald Trump said on Thursday he wants a U.S. military buildup of more ships and planes to "project American power in distant lands," making his case for a proposed $54 billion increase in defense spending that has U.S. lawmakers squabbling. Wearing an olive military jacket and hat aboard a new aircraft carrier, the Gerald R. Ford, in Newport News, Virginia, Trump said he wanted the U.S. military to have the finest equipment in the world. Trump this week proposed a $54 billion increase over last year in defense spending…
S.Korea Backs US Shale Gas Imports, Investment
South Korea stepped up a push on Friday to encourage its oil and gas companies to invest in U.S. shale gas projects, amid expectations that more opportunities will arise under a Trump administration. Asia's fourth-largest economy is the world's second-largest buyer of liquefied natural gas (LNG) after Japan, importing about 30 million tonnes a year through state-run Korea Gas Corp (KOGAS). In a meeting with the heads of Korean gas companies, energy minister Joo Hyung-hwan stressed the need to strengthen bilateral cooperation in the gas sector, with the first Korean imports of U.S. shale gas due to start next year, according to the ministry statement.
North Korean Coal Ships Sail Home after China Denies Cargo
A fleet of North Korean cargo ships is heading home to the port of Nampo, the majority of it fully laden, after China ordered its trading companies to return coal from the isolated country, shipping data shows. Following repeated missile tests that drew international criticism, China banned all imports of North Korean coal on Feb. 26, cutting off the country's most important export product. To curb coal traffic between the two countries, China's customs department issued an official order on April 7 telling trading companies to return their North Korean coal cargoes, said three trading sources with direct knowledge of the order. U.S. President Donald Trump and Chinese President Xi Jinping were discussing North Korea at Trump's Mar-a-Lago resort on April 7.
US Destroyer Challenges China's Claims in South China Sea
A U.S. Navy destroyer carried out a "freedom of navigation operation" on Thursday, coming within 12 nautical miles of an artificial island built up by China in the South China Sea, U.S. officials told Reuters. The operation came as President Donald Trump's administration seeks Chinese cooperation in dealing with North Korea's missile and nuclear programs and could complicate efforts to secure a common stance. The officials, speaking on condition of anonymity, said the USS John S. McCain traveled close to Mischief Reef in the Spratly Islands, among a string of islets, reefs and shoals.
Trump Names China Critic Lighthizer as US Trade Rep
U.S. President-elect Donald Trump on Tuesday named Robert Lighthizer, an official in the Reagan administration and harsh critic of China's trade practices, to be his chief trade negotiator, responsible for better deals aimed at reducing U.S. trade deficits. Trump, who promised during his presidential campaign to renegotiate international trade deals like NAFTA and punish companies that ship work overseas, said in announcing his choice that Lighthizer would help "fight for good trade deals that put the American worker first."Lighthizer is a former deputy U.S.