Posted on 11/18/2017 9:41:08 PM PST by Oshkalaboomboom
Bad news travels fast. Good news, meanwhile, doesn’t seem to travel at all.
Last weekend in Beijing, as part of his 12-day trip to Asia, President Trump announced that the US and China had signed an $83.7 billion deal to create a number of petrochemical projects in West Virginia over the next 20 years.
If the agreement holds tight, it is an economic game changer for the state.
And yet, speaking to the locals here, you wouldn’t even know it had happened.
“I am surprised I heard nothing about it on the national news, nor in my local paper and newscasts,” said Jerald Stephens, 67, a West Virginia native and union rep, who has been a keen observer of local politics for as long as he can remember.
The BBC and CNN covered the news in their business sections, while The New York Times picked up a short story by The Associated Press on the deal. The stories’ headlines were muted; their placement low-key.
“One would have suspected that the prospect of an investment this large — nearly three times the total annual budget for the department of energy — would have been front-page news,” said Paul Sracic, political-science professor at nearby Youngstown State University.
Part of this is the fault of the president himself. He never once tweeted about his deal to his 42.8 million followers, but instead used Twitter to attack old foes on his trip, including the media (“While in the Philippines I was forced to watch @CNN, which I have not done in months, and again realized how bad, and FAKE, it is. Loser!”) and the leader of North Korea (“Why would Kim Jong-un insult me by calling me ‘old,’ when I would NEVER call him ‘short and fat?’
(Excerpt) Read more at nypost.com ...
I read this, to sum it up, “Don’t blame the press, blame Trump!”
Does West Virginia have oil and gas? We already know it has coal.
Pennsylvania does.
On whose behalf did Trump sign these contracts?
Did Trump explain why American companies were not interested in this opportunity?
Is China going to staff it with dozens of imported Chinese engineers?
Is China going to install American petrochemical technology, learn how to use it, reverse engineer it, and then build its own petrochemical plants back home?
Maybe that’s why Trump is not talking about it?
It does. About 2/3rds the state sits above shale oil and gas. Very plentiful deposits. Been a bit of development but this will be a game changer for WV. Some development will be coal given all the coal fired energy plants, but most of those unemployed WV miners will get to work in bright sunshine for the frackers. The whole states GDP is 79B and this is a 83B investment. It changes everything for that entire state.
Chinese investment could begin to pay off within a year ‘We’re going full steam ahead, immediately’
http://www.freerepublic.com/focus/f-news/3603999/posts
West Virginia had second highest GDP
WASHINGTON - West Virginia had the second highest growth in gross domestic product (GDP) of any state in the country during the first quarter of 2017, and Gov. Jim Justice attributes the climb to the bounce back in the coal industry.
Mining grew by 21.6 percent nationally, according to the U.S. Department of Commerce report, contributing to growth in 48 states. That made Texas, West Virginia, and New Mexico the three fastest growing states, growing at 3.9 percent, 3.0 percent and 2.8 percent, respectively.
"I know the coal business like the back of my hand and the current spike in the coal market was one I saw coming, and our state Legislature refused to listen," Justice said in a news release. "If you go back to the October 2016 debates for governor, I said that coal would rebound and that our severance tax collection would go up. Some people laughed at the time, and they were totally wrong."
The governor's office also reported that a new Reuters analysis shows U.S. coal exports have increased more than 60 percent this year due to soaring demand from Europe and Asia.
Delivering promises Bigly.
.. Its the Trump energy policy.....The USA will become world dominant in Coal, Oil, LNG and raw materials for the various chemical industries.
If you tweet or use FB, get this word out. The propaganda press is not the only source of news these days. Word of mouth works, too.
The media will not give Trump credit for anything. They only report lies.
“Does West Virginia have oil and gas? We already know it has coal.”
“Up East” is on top of or very near to one of the biggest shale gas deposits in the US.
http://www.energyindustryphotos.com/shale_gas_map_shale_basins.htm
W.V. might overflow red into Virginia and turn it purple
btt
China already HAS “it’s own petrochemical plants back home”.
the downside of this is that china will own the senators from west virginia.
Yes to gas.
Perhaps as important or more so, there is a strong base of trained chemical workers along the Kanawha river with big players of Dow/Dupont/Monsanto
I suspect that the noted strong American players are in some joint venture with the Chinese companies
There will be American companies involved in what will be joint ventures
“the downside of this is that china will own the senators from west virginia.”
I’m just glad Robert “KKK” Byrd isn’t one of those senators anymore. You know he would find a way to put his name on the project. When I have driven through West Virginia, I have seen the public works named after Byrd. There is even a chain of gas stations named after him — Sheetz.
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