the lobsters, they are getting from canada now. we will never get it 100% back. the chinese are suffering more than we are. there is no articulating view of what success is here. yeah. i think that s exactly right. the only way to win a trade war is to not be in one. what you are starting to hear some of these businesses saying is that they have tried in many cases to find new production platforms from which they can import the goods that are now facing increasing tariffs in china. and it s just really hard to do. by the way, note that that does not accomplish trump s goal. trump s goal is some version of import substitution, meaning build stuff domestically that s being currently built. that s not what we re hearing. they will saying maybe i will go to cambodia, milan. we re having some of the economic problems that she was
what success is here. yeah. i think that s exactly right. the only way to win a trade war is to not be in one. what you are starting to hear some of these businesses saying is that they have tried in many cases to find new production platforms from which they can import the goods that are now facing increasing tariffs in china. and it s just really hard to do. by the way, note that that does not accomplish trump s goal. trump s goal is some version of import substitution, meaning build stuff domestically that s being currently built. that s not what we re hearing. they will saying maybe i will go to come boambodia, milan. we re having some of the economic problems that she was just talking about, including diminished investment. now i think the idea was that if you look at any article that was about a potential recession in
simple. easy. awesome. click or visit a retail store today. hurricane michael will certainly be a devastating storm. it has yet to make landfall. it has it is already disrupting the u.s. oil. the gulf of mexico a big source of oil production in the u.s. producers like bp and chevron began bracing for the hurricane monday. evacuating offshore production platforms in the storm s path. 75 have been cleared so far. about 11% of the manned platforms in the area. unlike oil rigs, production platforms don t move. companies also shut down three rigs in the storm area. they moved eight others. that has cut off nearly 40% of owl output in the gulf of
bp and chevron began bracing for the hurricane monday, evacuating offshore production platforms in the storm s path. 75 have been cleared so far. about 11% of the manned platforms in the area, unlike oil rigs, production platforms don t move. companies shut down three rigs in the area. they moved eight others. that s cut off nearly 40% of oil output in the gulf of mexico. that s a big hit. it s stemmed natural gas by 28%. the production cut sent u.s. crude prices 1% higher yesterday, rising to just below $75 a barrel. oil prices already rising because of tight global supply and looming sanctions on iran oil. higher crude prices mean higher gas prices. right now the average cost per gallon is 40 cents higher than this time last year. taylor swift using her acceptance speech for artist of the year at the american music awards to send a political message to her millions of adoring fans. this award and every single award given out tonight were
across this country. if you ride in a car, that is the case, through rising gas prices. let s look at the big picture. the gulf in that image produces about 17% of all u.s. crude oil output and nearly half of the country s refining capacity. that s royal dutch shell, exxonmobil, and anadarko. they re all scaling back production in the gulf right now. as of this morning 39 production platforms have been evacuated. that translates to more than ooh 5% of all manned platforms in the gulf. those evacuations mean 10% of the region s overall crude oil production has been shut off completely and 15% of its natural gas production. so how is it going to impact you? as kerry mentioned, people in places like washington, d.c., and even washington state might be feeling it this morning. and if not this morning they ll feel it this weekend at the pump. the risk of tighter inventories