Commentary: Republicans Are Trying to Sneak a Carbon Tax Through the Back Door

Fresh from the looming trainwreck that is the deal to increase the debt limit, four Republican senators recently signed onto legislation that would require the Biden administration to study the feasibility of . . . a national tax on energy that would be collected at the gas pump and in electricity and heating bills.

The four Republicans — Senator Kevin Cramer (R-ND), Senator Bill Cassidy (R-LA), Senator Lindsey Graham (R-SC), and Senator Lisa Murkowski (R-AK) — joined five Democrats in asking Team Biden to determine the amount of energy used — and carbon dioxide emitted — by various countries in the production of essentially everything that makes modern life possible (aluminum, iron, steel, plastic, crude oil, batteries, etc.).

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U.S. Relies on Russia for Key Materials in Defense Production

The U.S. depends on Russia to supply key minerals used in technology and defense industries, but the Russia-Ukraine war and Western economic punishment of Russia have suppressed supply lines, according to a report from Defense News.

Russia and Ukraine supply a large percentage of minerals like neon and aluminum that the U.S. uses in civilian and military applications, Deborah Rosenblum, a Pentagon acting spokesperson who works on industrial base policy, told Defense News. Sanctions levied on Russian companies and a war-related drop in mineral production have put these supply chains in jeopardy, she said.

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Contrary to Nervous Nellie ‘Economic Experts,’ the Trump Economy is Booming with Elevated Aluminum and Steel Prices

Donald Trump

By Robert Romano   One of the conventional wisdoms to do with the tariffs and duties levied by the Trump administration on steel, aluminum and lumber is that they will lead to higher prices and inflation, hurting producers and consumers, thus stunting economic growth. For example, billionaire Charles Koch warned on July 30 that the tariffs would lead to a recession. So far, however, that does not appear to be the case. In the second quarter of 2018, the U.S. economy boomed at an inflation-adjusted 4.1 percent annualized. And the latest consumer and producer prices, taking into account the period when many of the tariffs were levied, do not show the predicted price hikes. Consumer inflation is up 0.8 percent the past six months, below the Fed’s 2 percent 12-month target. As for producer prices, if you look at finished goods for final demand by commodity less energy and food, you see a 1.44 percent increase the last six months, averaging 0.24 percent a month. That is slightly below the historical average of 0.27 percent a month dating back to 1974. Americans for Limited Government President Rick Manning commented on the numbers, saying, “the six-month tracking demonstrates that the economic growth spurt generated through President Trump’s…

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US Steel Says It Will Add 800 Jobs Thanks to Tariffs

steel factory

US Steel is hiring in the wake of President Donald Trump’s steel tariffs, CBS Pittsburgh says, citing a CNN Money report. US Steel said Tuesday it’s restarting the second of two blast furnaces at its plant in Granite City, Illinois, near St. Louis. It will bring on 300 workers to support the effort. The company previously announced it would reopen the first furnace, which would create 500 positions to be filled by new and returning employees. “After careful consideration of market conditions and customer demand, including the impact of Section 232, the restart of the two blast furnaces at Granite City Works will allow us to serve our customers’ growing demand for high quality products melted and poured in the United States,” US Steel CEO David Burritt said in a press release. Section 232 refers to the part of the trade law Trump invoked in March when he imposed steep tariffs on steel and aluminum imports, citing national security concerns. While waivers were at first granted to US allies, Trump last week slapped a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports from Canada, Mexico and the European Union. All three are retaliating with…

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