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ITC Fire - What does it mean for Regulation & Industry
08:22
Justin Lurie - Media

ITC Fire - What does it mean for Regulation & Industry

1. Beyond regulation, there is an even greater deterrent from unsafe practices – civil litigation. a. Large corporations and business continuity insurers will be suing for re-imbursements i. Ship Channel was closed b. Small businesses may also file class action for income lost during the shutdown 2. AG Ken Paxton already filed suit a. Could be $100k for violations on air quality 3. This is a problem with poorly run multi-national corporations who make most of the crucial decision making overseas a. Talk about this at length in my book b. Decisi c. on making must be agile and quick; information doesn’t always translate across the world in comparison to the feedback you can receive when you’re at the ground d. This plant wasn’t autonomously managed or led, so decisions weren’t made here. This is a case of poor management decisions, poor human decisions, and not a case for additional regulations that may stifle our economy on multiple levels. 4. TCEQ has a budget of $456M and 2,780 employees. Not understaffed, nor underfunded a. Texas Commission on Environmental Quality 5. Incidents are most often due to human error. a. Just like most car accidents b. It’s a problem that exists in complex organizations 6. five school systems with more than 108,000 students to shut for two days, and prompted two cities to tell residents to stay indoors. 7. 90 million barrels of oil storage capacity in above-ground tanks near Houston 8. ITC adheres to the API fire restriction guidelines. a. It looks like a lack of water pressure is to blame for the start of the fires b. More foam and fire suppressors can lead to additional chemicals being released into the air i. The fire was burning off the benzene, and preventing the massive release into the air On the ‘What’s Your Point’ panel with Nyanza Davis Moore (Democratic Political Commentator and Attorney), Bob Price (Associate Editor of Breitbart Texas), Antonio Diaz (writer, educator, and radio host), Jessica Colon (Republican Strategist), Keir Murray (Democratic Strategist), and Justin Lurie (American Petroleum Institute, Houston Board of Directors, and former Republican Congressional Candidate) joined host Greg Groogan of Fox26 Houston
Federal Reserve Locks In Rates
02:13
Justin Lurie - Media

Federal Reserve Locks In Rates

1. Fed’s goal is to tame inflation and reduce cyclical boom and bust economies a. We can argue if they are effective and possess too much unchecked power i. For example, when Ben Bernake testified he lost $500BN b. maximum sustainable employment, stable prices, and moderate long-term interest rates 2. If you want to borrow money to buy a house or a car, congrats, Powell helped you a. If you want to save your money and earn interest, your interests are taking a back seat 3. MMT – modern monetary theory: a. In essence, when you create the money, you can’t go bankrupt b. You can just keep printing to purchase more c. Inflation may rise, but will be tamed by raising taxes, otherwise, enjoy the party d. In other words: debts don’t matter since no other nation can rise to challenge the $ i. The EU is failing, China does not yet possess the power, and neither does Japan 4. We need to level out the balance sheet, which is just under $4TR, a. was $4.5TR six months ago b. $800MM in 2008 5. May help Trump, but the story is the rest of the world is faltering while the US is growing On the ‘What’s Your Point’ panel with Nyanza Davis Moore (Democratic Political Commentator and Attorney), Bob Price (Associate Editor of Breitbart Texas), Antonio Diaz (writer, educator, and radio host), Jessica Colon (Republican Strategist), Keir Murray (Democratic Strategist), and Justin Lurie (American Petroleum Institute, Houston Board of Directors, and former Republican Congressional Candidate) joined host Greg Groogan of Fox26 Houston
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