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WH: Keystone Pipeline exempt from "buy American rule" After Ex-Foreign Steel Exec Became Commerce Secretary (new swamp)
geronl:
--- Quote ---The Trump administration’s decision to exempt the Keystone XL pipeline from “Buy American” rules could benefit one company in particular: the steel giant that newly minted Commerce Secretary Wilbur Ross invested in and helped run for a decade.
Two days after Ross was confirmed, the White House announced that Commerce will not apply those rules to the project. “The Keystone XL Pipeline is currently in the process of being constructed, so it does not count as a new, retrofitted, repaired or expanded pipeline,” a White House spokesperson told Politico.
The pipeline’s exemption from Buy American rules could benefit Luxembourg-based company ArcelorMittal, the world’s largest steel manufacturer. Ross, a billionaire investor and leveraged buyout specialist, sat on the company’s board until Wednesday, and in January disclosed equity holdings of between $750,000 and $1.5 million.
ArcelorMittal has provided large amounts of material for the Keystone pipeline. According to company documentation, its plant in Bremen, Germany, sold dozens of kilotons of steel to Arkansas-based Welspun Tubular, which used the material to manufacture spiral welded pipe for the project.
--- End quote ---
excerpted
http://www.thedailybeast.com/articles/2017/03/03/buy-american-rule-for-keystone-pipeline-dropped-after-ex-foreign-steel-exec-became-commerce-secretary.html
geronl:
@AbaraXas
Huge conflict of interest going on here
ABX:
--- Quote from: geronl on March 04, 2017, 02:14:09 am ---@AbaraXas
Huge conflict of interest going on here
--- End quote ---
What's a little quid pro quo between friends?
geronl:
The Philippine trade Envoy to DC is a huge business partner of Trumps. Duterte knows how to play Trump.
Oceander:
Putting the "crony" back into crony capitalism.
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