BUSINESS Trump's tariffs will cost Texas oil and gas jobs - Media Forgot about Keystone Follies
March 8, 2018
Tariffs on steel and aluminum will have a heavy impact on employment in Texas, where the number of jobs in the energy industry — which relies on foreign steel and aluminum for rigs, pipelines and other equipment— are nearly double the number of aluminum and steel jobs nationwide..
The U.S. can expect to lose between one and 1.5 oil and gas jobs for every single steel or aluminum job saved by the tariffs, said Karr Ingham, an economist who studies the Texas oil industry. Texas has 225,000 jobs in oil and gas exploration, production and services, far more than the 140,000 jobs nationally in steel and aluminum that the tariffs are meant to bolster, Ingham said.
“There’s nothing about these tariffs that can be considered positive for the oil and gas industry,” Ingham said. “The imposition of these tariffs will result in net job loss, not just in oil and gas, but in other manufacturing sectors like construction and transportation that use steel.”
On Friday, President Donald Trump imposed steep tariffs on imports of foreign steel and aluminum designed to boost American companies. Trump’s order will impose tariffs of 25 percent on steel and 10 percent on aluminum imports, but will exempt Canada and Mexico and leave negotiating room for U.S. allies to avoid or lower the tariffs.
https://www.houstonchronicle.com/business/article/Trumps-tariffs-will-cost-Texas-oil-and-gas-jobs-12739624.php
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