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☆ Biden promise to rival China on shipbuilding faces a big economic problem
▼ + stars: | 2024-04-25 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +11 min

The Biden administration is correct that China has not played fair. But he said the nations that could rival China in shipbuilding are Asian competitors. Shipbuilding subsequently dropped to around five ships per year, which is approximately the current rate of U.S. shipbuilding. President Joe Biden speaks to members of the United Steel Workers Union at the United Steel Workers Headquarters on April 17, 2024 in Pittsburgh, Pennsylvania. Biden announced new actions to protect American steel and shipbuilding industries including hiking tariffs on Chinese steel.

Persons: Biden, Ben Nolan, Nolan, Reagan, Joe Biden, Jeff Swensen, —, Darron, Wadey, Lloyd, Matson, George Washington, Ronald O'Rourke, O'Rourke Organizations: Mitsui Shipbuilding Co, Taicang Port Economic, Technological, Future Publishing, Getty, CNBC, Shipbuilding, Global, United States, Trade, U.S . Trade, U.S, China's Ministry of Commerce, United Steel Workers, Japan's Nippon Steel, United Steel Workers Union, United Steel Workers Headquarters, Analysts, Matson Shipping, Jones Act, Philly Shipyard, CMA CGM, Matson, United, Maritime Administration, U.S ., Huntington Ingalls Industries, News Shipbuilding, U.S . Navy, U.S Navy, Newport News Shipbuilding, Virginian Pilot, Tribune, Service, Force, warfighting, Navy, Biden, Congressional Research Service Locations: Taicang Port, Suzhou, Jiangsu province, China, U.S, Japan, South Korea, United States, Pennsylvania, Pittsburgh , Pennsylvania, American, Bangladesh, U.S . Virgin Islands, Great, Mississippi, Ohio

☆ I moved to Puerto Rico from New Jersey with my partner. Rent is cheaper, the weather is warmer, and we plan to stay.
▼ + stars: | 2024-03-28 | by ( Elle Hardy | ) www.businessinsider.com time to read: +6 min

Jarrell Chalmers and his partner, Jose Diaz, moved to Puerto Rico to escape high rents in Jersey City. AdvertisementThis as-told-to essay is based on a conversation with Jarrell Chalmers, a 31-year-old marketing consultant in San Juan, Puerto Rico. Rent is cheaper, but groceries are more expensiveHouses in Old San Juan, Puerto Rico. We've also been posting content on how to get remote jobs in Puerto Rico for Puerto Ricans. Things move slowly because people in Puerto Rico live in the moment, and that's what we love about it.

Persons: Jarrell Chalmers, Jose Diaz, —, We're, San Juan —, Oscar Gutierrez, we've, We've Organizations: Service, Jersey City Jersey City, Puerto Ricans, Getty, Costco, Planeta, Cafe Locations: Puerto Rico, Jersey City, San Juan , Puerto Rico, Hartford , Connecticut, Puerto Rican, San Juan, Spanish, Jersey City Jersey, Puerto, New Jersey, Old San Juan , Puerto Rico, Farmers, Florida, States

☆ Why Maui’s rebuilding effort will be so expensive
▼ + stars: | 2023-08-18 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

All told, doing business in Hawaii is about 30% more expensive than the cost of doing business in the rest of the United States, according to Moody Analytics. “Based on similar historical events, this is likely conservative, as building delays and supply and demand cause additional pressures on reconstruction costs,” said Verisk. Construction permitting generally takes longer in Hawaii than most mainland locations, said Jessica Leorna, CEO of the state’s Building Industry Association. That’s especially true for construction workers, who were in short supply even before the fires, according to the state’s Building Industry Association. And workers from elsewhere in the state or the Southeast could drive home on weekends,” he said.

Persons: ”, Beau Nobmann, Jae C, ” Jason Thies, Nobmann, Jessica Leorna, Jones, it’s, Adam Kamins, there’s, Ian, “ That’s Organizations: New, New York CNN, Moody Analytics, HPM, Homes, Industry Association, Labor, Labor Department, state’s, Moody’s Analytics, Moody’s Locations: New York, Maui, United States, Hawaii, Lahaina , Hawaii, Canada, Asia, West Coast, California, Washington, Hawaii’s, Florida

☆ Inside Infowars' crumbling empire: Ex-Staffers reveal the 'volatile' and 'unhinged' atmosphere working for conspiracy theorist Alex Jones
▼ + stars: | 2023-06-11 | by ( Tom Porter | Ashley Collman | ) www.businessinsider.com time to read: +23 min

One afternoon in the spring of 2017 Alex Jones furiously lunged at his video producer. According to Jacobson, Jones had to be restrained by another Infowars staffer lest he actually hurt him. Alex Jones did not respond to Insider's request for comment. Owens also said he felt guilty about his complicity in promoting the Sandy Hook conspiracy theories during his time working there. "People hearing the words Sandy Hook, they automatically think Alex Jones," she added.

Persons: Alex Jones, lunged, Robert Jacobson, Jones, Jacobson, hawking, Paul Simon, Bruce Springsteen, Alex, baselessly, David, doesn't, Sandy Hooks, Sandy Hook, Josh Owens, Owens, Marjorie Taylor Greene, John Travolta, badgering, George, we're, Jone, Nuri Vallbona, lackey, …, That's, I'm, Christmas Jones, Kelly, David Duke, Duke, Infowars, He'd, David McCullough, Christopher Jordan, Jordan, they're, Megan Squire, Squire, Dave Mustain, Tim Kennedy, Donald Trump, Chris Mattei, Judge Barbara Bellis, Daria Karpova, Karpova, " Jacobson, he'll, He'll Organizations: Austin, Austin Community, Facebook, Factory, Infowars, Iron, Alamo, New York Times Magazine, REUTERS, New, Senate, Housing, Southern Poverty Law Center, San Diego, Free Speech Systems, YouTube, Sandy, Connecticut Superior, Associated Locations: Austin, Texas, USA, Infowars, Atlanta, Austin , Texas, U.S, New York City, Louisiana, Infowar, Newtown, Connecticut, New Orleans, Waterbury, Conn

☆ How a 102-Year-Old Maritime Law Affects Today’s Home-Heating Prices
▼ + stars: | 2022-12-06 | by ( Costas Paris | ) www.wsj.com time to read: 1 min

As oil and gas prices for households in the Northeast U.S. hit their highest levels in years, state governors asked the federal government for help. The request includes suspending the Jones Act to skirt curbs on delivering natural gas from places like Texas to Massachusetts. Here’s more about the 102-year-old law.

☆ Here's how the Fed's rate hike can move markets and whether to expect a central bank pivot
▼ + stars: | 2022-11-02 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

That bank thinks the Fed is going to skirt any talk of a pivot, and opt for continued rate hikes albeit at a slower pace. Goldman Sachs listed three reasons the Fed will carry on with rate hikes:US inflation will remain "sticky" so a pivot won't be justified. Keeping rate hikes going until March 2023 will set up the central bank for a future pivot. US stock futures rise early Wednesday, as eyes turn toward the Fed's rate hike decision later today. Here's what you want to know about the 1920 rule that's still moving markets more than a century later.

☆ The diesel market is in a perfect storm as prices surge, supply dwindles ahead of winter
▼ + stars: | 2022-10-30 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

watch nowNew England's diesel supply issues were made worse when a Canadian refinery in Newfoundland shut down in 2020 as the pandemic impacted on demand. A couple of farmers told me diesel supply via their local vendor is day to day." According to MarineTraffic, the 56 Jones Act tankers are being used. For example, a Jones Act tanker carrying 300,000 barrels of diesel from Houston to Boston costs approximately 16 cents per gallon. This is one of the reasons why energy traders favor using foreign flag tankers versus Jones Act tankers.

☆ U.S. lawmakers criticize Biden administration Puerto Rico fuel waiver
▼ + stars: | 2022-10-21 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Oct 21 (Reuters) - A bipartisan group of House of Representatives lawmakers criticized the Biden administration decision on Friday to waive U.S. shipping rules in September for the delivery of fuel to Puerto Rico. The Sept. 28 Jones Act waiver allowed for the delivery of diesel sourced from the mainland United States by British Petroleum (BP.L) Products North America. House Transportation and Infrastructure Committee chair Peter DeFazio, a Democrat, and top committee Republican Sam Graves expressed "concerns and disappointment" over the waiver. DHS issued a waiver of the Jones Act, a century-old law that requires goods moved between U.S. ports to be carried by U.S.-flagged ships. Last month, Puerto Rico Governor Pedro Pierluisi asked the White House for a waiver to increase the availability of fuel after the storm.

☆ U.S. approves LNG shipping waiver for Puerto Rico after hurricane
▼ + stars: | 2022-10-17 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Shipping Corp FollowWASHINGTON, Oct 16 (Reuters) - The Biden administration late on Sunday approved a waiver of U.S. shipping rules to address Puerto Rico's urgent need for liquefied natural gas (LNG) after Hurricane Fiona. In late September, the DHS approved a Jones Act waiver to ensure Puerto Rico had "sufficient diesel to run generators needed for electricity and the functioning of critical facilities." Last month, Puerto Rico Governor Pedro Pierluisi asked the White House for a waiver to increase the availability of fuel after the storm. A group of eight House lawmakers had asked Homeland Security Secretary Alejandro Mayorkas for "a one-year waiver from the Jones Act for Puerto Rico" which faces "an unprecedented uphill battle to rebuild its homes, businesses, and communities." All other waivers, DHS said, "must be reviewed on a case-by-case basis."

☆ How much will Sandy Hook parents actually get from Alex Jones?
▼ + stars: | 2022-10-13 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

New York CNN Business —Alex Jones owes $965 million to eight family members of Sandy Hook shooting victims and a first responder. Jones was hit with that staggering jury award Wednesday for compensatory damages caused by his repeated lies about the shooting. Plaintiffs in the case said the reason they sued was to stop Alex Jones from continuing to spread lies and hurt other people. The fact that Jones might be reviled, and the plaintiffs are so sympathetic, shouldn’t be a factor, he added. “In the justice system, Alex Jones and Mother Teresa should be treated the same,” Rustad said.

☆ Biden Administration Grants Waiver Allowing Diesel Shipment Into Puerto Rico
▼ + stars: | 2022-09-28 | by ( Paul Page | Andrew Restuccia | ) www.wsj.com time to read: +3 min

The Biden administration on Wednesday approved a temporary waiver to Jones Act shipping restrictions to allow a tanker to deliver diesel fuel to Puerto Rico needed to run generators following the devastation caused by Hurricane Fiona. The BP vessel, which picked up its fuel cargo in Texas, is flagged to the Marshall Islands. The law is aimed at preserving U.S. maritime operations as a national security backup to the armed forces. Critics say the law drives up shipping prices and creates a barrier to speedy services following natural disasters and other times of need. Mr. Mayorkas said he made the decision to grant the waiver in consultation with the departments of Transportation, Energy, and Defense, and with input from Puerto Rico Gov.

SAN JUAN, Puerto Rico — A ship carrying much-needed diesel fuel has been unable to dock in hard-hit southern Puerto Rico since Sunday while it awaits federal authorization because of the Jones Act, a century-old shipping law. That means that a foreign ship with goods for Puerto Rico would first have to disembark in the mainland U.S. and change crews. Signed into law by President Woodrow Wilson two years after World War I ended, the Jones Act was passed as a protective measure against foreign competition. On Thursday, eight members of Congress called for the federal government to grant a one-year waiver from the Jones Act for storm-ravaged Puerto Rico. As of Monday morning, only 16% of power customers in Ponce had their electricity restored, according to the Puerto Rican government.

☆ Fed up with high gas prices and slow Amazon deliveries? Blame these 2 century-old laws that need to be repealed.
▼ + stars: | 2022-09-13 | by ( Colin Grabow | ) www.businessinsider.com time to read: +12 min

A well-oiled transportation system is vital to keeping the economy humming — especially in a country as large as the United States. Unfortunately, Americans' ability to get resources where they need to go has been crippled by a pair of outdated laws: the Jones Act and the Foreign Dredge Act. As with Jones Act ships, hopper dredges constructed in US shipyards are significantly more expensive than those built abroad. But despite these huge costs, the Jones Act and the Foreign Dredge Act survive largely intact. The Jones Act and the Foreign Dredge Act are just two examples among many, and behind each one lies an entrenched interest group dedicated to its preservation.

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