Posted: 02/28/17 14:57
by Dave Mindeman
This really needs to be said.
Trump has been telling his pipeline story about how he "made" them change his executive order so that they are required to use only American steel on the project.
Which is ironic coming from a business tycoon that has 80% of his products made in other countries.
But here is the really annoying part.
A very limited amount of American steel will be used in the DAPL or the Keystone XL projects. And the reason? Because the pipeline materials have already been bought and paid for.... most of it some time ago.
Since the materials were already purchased for Keystone, Trump's move to revive the project should not result in new large steel orders.
They have been stored away, waiting to see if the projects would still be green lighted. Now that Trump has done that, they can break out the materials and start laying the pipe.
And, in addition...
Steel manufacturers and analysts said that TransCanada's stringent requirements for the pipeline, including thickness and pressure requirements, already keeps most U.S.-based steelmakers out, given current forging and manufacturing processes.
Apparently Canada still believes in meeting regulatory requirements. Trump hasn't worked on Trudeau enough I guess.
Trump is always more than willing to take credit. He is willing to concoct a good story. He is always ready to brag and exaggerate and, well, let's just say it...to lie.
So before you tell anyone that Trump is helping the steel industry or that he even cares about the steel industry.
Remember that what he says seems to always have a more accurate back story.
Always wait for the truth.