Title : Making America Great Again -- Another Multi-Billion-Dollar Petrochemicals Complex To Be Built In Louisiana
link : Making America Great Again -- Another Multi-Billion-Dollar Petrochemicals Complex To Be Built In Louisiana
Making America Great Again -- Another Multi-Billion-Dollar Petrochemicals Complex To Be Built In Louisiana
Making America great again: another huge chemical complex to be built in Louisiana. Here and here. Data points:- $9.4 billion chemical complex
- 10-year building program; two phases
- construction to begin as soon as next year (2019)
- 1,200 new direct jobs averaging $85,000
- Formosa Petrochemical Corp (Taiwan-based)
- 2,400-acre site; along west bank of the Mississippi River
- will produce ethylene, propylene, ethylene glycol, and assoc polymers
- Formosa Plastics Group: no stranger to Louisiana; already operates three other facilities in the state
- this story will get very little media coverage; meanwhile, at only $5 billion, Amazon HQ2, will get much more media exposure
As the Trump tax cut was being debated in December, California’s Gov. Jerry Brown called the bill “evil in the extreme” and fumed that it would “divide the hell out of us.” He’s right—but in the end, this change could be good for all the states.
In the years to come, millions of people, thousands of businesses, and tens of billions of dollars of net income will flee high-tax blue states for low-tax red states. This migration has been happening for years. But the Trump tax bill’s cap on the deduction for state and local taxes, or SALT, will accelerate the pace. The losers will be most of the Northeast, along with California. The winners are likely to be states like Arizona, Nevada, Tennessee, Texas and Utah.
For years blue states have exported a third or more of their tax burden to residents of other states. In places like California, where the top income-tax rate exceeds 13%, that tax could be deducted on a federal return. Now that deduction for state and local taxes will be capped at $10,000 per family.
About 90% of taxpayers are unaffected by the change. But high earners in places with hefty income taxes—not just California and New York, but also Minnesota and New Jersey—will bear more of the true cost of their state government. Also in big trouble are Connecticut and Illinois, where the overall state and local tax burden (especially property taxes) is so onerous that high-income residents will feel the burn now that they can’t deduct these costs on their federal returns. On the other side are nine states—including Florida, Nevada, Texas and Washington—that impose no tax at all on earned income.DAPL redux: Enbridge Line 3 ruling/protests already back in the news. The article provides a bit of background why Enbridge wanted a new route; it was not simply to be politically correct.
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Back to the Bakken
Where Frackers Are Always Welcome
Active rigs:
| $67.45↓ | 4/25/2018 | 04/25/2017 | 04/25/2016 | 04/25/2015 | 04/25/2014 |
|---|---|---|---|---|---|
| Active Rigs | 62 | 49 | 26 | 84 | 182 |
RBN Energy: why increasing pipeline capacity will reduce eastern gas price volatility.
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