US President Donald Trump continues to grab the headlines as he made true on a number of promises championed during his election campaign.
His days in office have seen the property tycoon withdraw the USA from the Trans Pacific Partnership (TPP) agreement, citing the trade deal as a reason for the loss of American jobs. This led to intensified speculation over the future of the North American Free Trade Agreement (NAFTA) between the USA, Mexico and Canada – speculation that was compounded with the signing of an executive order to build a wall between the USA and Mexico.
Trump also enacted an executive order banning people from Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen from travelling to the USA, prompting a vicious backlash from parts of the population. Tumultuous times indeed for the world’s largest economy.
One theme that could have serious implications for the heavy lift and project logistics sector in the USA is President Trump’s obvious disdain for the renewable energy sector, as he placed fossil fuels at the centre of his energy agenda.
However, despite the negative rhetoric, renewable energy projects continue to gain traction in the USA. Last week saw New York reveal its long-term strategy to build enough offshore wind capacity by 2030 to power 1.25 mn homes, starting with a 90 MW project 30 miles off Montauk on Long Island’s South Fork.
A second project will provide approximately 800 MW of offshore wind power in an area 17 miles (27.3 km) south of the Rockaway Peninsula. In December 2016, Statoil Wind US won an auction from the federal government to lease the area for wind energy development.
Last week, the U.S. Department of the Interior and the Bureau of Ocean Energy Management also shortlisted nine companies to take part to the commercial wind lease sale for 122,405 acres (49,536 ha) offshore Kitty Hawk, North Carolina, USA.
This week, President Trump unveiled his 50-page ’Priority List: Emergency and National Security Projects’, detailing 50 infrastructure projects containing a host of highways, bridges, power lines and airport developments – including a number of hydroelectric projects. Mr. Trump also signed two executive orders essentially green-lighting two oil pipeline projects – the Dakota Access the Keystone XL – both of which were blocked under President Obama’s administration.
It is too early to determine the impact of these measures on the US economy, but HLPFI will certainly continue to track the impact on the region’s project freight forwarding sector.
Related information: ‘Priority List: Emergency and National Security Projects’