President Trump once again trips over his own proposals. For example on the requirement that new pipelines must use American made steel from American mined ore:
There are very few, and in some cases zero, U.S. companies that make steel for the parts required by large pipelines, so companies must buy overseas, says the American Petroleum Institute.
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Energy Transfers Partners (NYSE:ETP) tells the Commerce Department that requirements to use domestic steel for its pipelines would "severely delay project schedules, drive up costs, decrease availability, and lower quality."
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Williams Cos. (NYSE:WMB) says "any sort of requirement to use U.S.-sourced steel or pipeline materials manufactured in the United States has the potential to cancel or delay projects." - also, WMB already has purchased more than 1M ft. of pipe in storage for its Atlantic Sunrise project, and nearly 500K ft. for the Constitution pipeline.*
Wasn't Trump in favor of getting rid of regulations?
* https://seekingalpha.com/news/3261954-pipeline-companies-rebel-trumps-buy-american-rule?uprof=46#email_link
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