24 March 2021

1) The CLEAN Future Act, a nearly 1,000-page piece of legislation, is meant to curb greenhouse gas emissions and air pollution that’s emitted from the petrochemical facilities that produce plastics or the raw materials used to make plastics. More significantly, the bill would impose a temporary pause on air pollution permits needed for approval of new plastics production facilities. But Republican lawmakers are raising concerns that provisions in the sweeping climate bill from top house democrats would stifle the plastics industry. The EPA regulations also require any permit for a plastics production facility to be accompanied by an ‘environmental justice assessment’, which would include consulting with the people living in the region where the facility is located.

2) Canadian Pacific Railway announced its plan to acquire the Missouri-based Kansas City Southern Lines rail company, which operates railroads in Mexico, Panama, and the United States. The new agreement will result in the first ever rail network to span the length of the North American continent to create the first rail network spanning from Canada to Mexico.
The CP values KCS at $29 billion dollars and agrees to assume $3.8 billion in outstanding debts as part of the agreement. The deal awaits final approval from the U.S. Surface Transportation Board.

3) President Biden’s economic advisers are preparing to recommend spending as much as $3 trillion dollars aimed at boosting the economy, reducing carbon emissions and narrowing economic inequality, including a giant infrastructure plan that may be financed in part through tax increases on corporations and the rich. Rather than trying to push a mammoth package through Congress, Biden has separated his plan into legislative pieces. The bill includes money for rural broadband, advanced training for millions of workers and 1 million affordable and energy efficient housing units. Additionally there is nearly $1 trillion dollars in spending on the construction of roads, bridges, rail lines, ports, electric vehicle charging stations and improvements to the electric grid and other parts of the power sector. But Republican support will depend in large part on how the bill is paid for.

4) Stock market closings for – 23 MAR 21:

Dow Jones 32,423 down by 308.05
NASDAQ 13,228 down by 149.85
S&P 500 3,911 down by 30.07

10 Year Yield: unchanged at 1.69%

Oil: down at 60.62

13 August 2019

1) Royal Dutch Shell is building a 386 acre chemical plant to make bulk plastic. The construction project is one of the largest active construction projects in America employing over 5,000 people. The plant has hundreds of miles of pipelines to feed it petroleum and will have its own rail system with 3,300 freight cars. The new plant is expected to produce a million tons of plastic pellets each year.

2) Saudi oil company Aramco is buying a 20% share in Reliance Industries Ltd of India an oil to chemicals business. This will include the 1.24 million barrels a day Jamnagar refining complex. This is part of Aramco plan for refinery investments to double its processing network and handle as much as 10 million barrels of oil a day by 2030. Reliance has agreed to purchase 500,000 barrels of crude a day over the long term.

3) The IMF (International Monetary Fund) has warned that addition tariffs in the trade war will sharply cut Chinese growth. The IMF has already forecast a 6.2% decline in China’s growth for this year, which assumes no new tariffs. They forecast a sharp cut in China’s growth if the additional tariffs threaten are imposed on the first of September. President Trump has cast doubts on a trade deal, and indicated he might cancel the trade talks scheduled for September.

4) Stock market closings for – 12 AUG 19:

Dow               25,897.71             down    389.73
Nasdaq            7,863.41   unchanged        0.00
S&P 500           2,883.09              down     35.56

10 Year Yield:     down   at    1.64%

Oil:    down   at    $54.78