Trump: Shell’s new Pennsylvania plant will restore ‘glory’ of US manufacturing

President Trump on Tuesday visited a massive new plant in western Pennsylvania that converts the region’s huge natural-gas deposits into plastics — saying; “This would have never happened without me.”

Trump spoke at Shell’s nearly completed Petrochemicals Complex in Monaca, which will provide hundreds of jobs to the struggling region near the Ohio border.

But critics claim it also will become the largest air polluter in that part of the Keystone State, an area hit hard by manufacturing job losses and hungry for investment.

Trump said his administration was “restoring the glory of American manufacturing” and making the nation energy independent.

True. I fly into PIT once every two months. Drive up to Trumbull Co., NE Ohio. This Shell cracking plant dominates the drive. It sits on the west side of the road, the east side is dominated by trailers of the construction companies working on the plant.

I fly on a Saturday night out of So. FL. Land at 11 pm, grab a car and head northwest. Every plant (steel tube, aluminum, cans, etc.) on my ride north is open, running and the parking lots are lit up and full of new pickup trucks. On a Saturday night at midnight.

Driving into the little Ohio town where the family homestead is, there’s a 2016 Trump-Pence billboard (still up) that reads “Trump wins!” . Somebody spray painted over that and put “We won!” .

They’re not wrong.

Trump nails it. Lefties recycling centers ship mountains of waste plastic to Asia. We have our laws strictly enforced. Ship in middle of the ocean dumps it, laughing all the way to the bank.

Wet gas has NGL’s easily piped short distances from the Marcellus and Utica shale pads direct to regional ethane crackers. Article did not say how much of the manufacture is done at the Shell site.

Not much oil comes out of the Marcellus. Ethane the feedstock that is processed for a multitude of finished products. Revitalize mfg in the rust belt states that the new populist conservative remade GOP can transform itself into a majority party again.

All of those states minus ILL can be ours by telling the globalists to pound sand. Hedge and equity funds need to be put on the hot seat for the deindustrialization of the rust belt.

Turning the Hispanic vote is key to retain FL, GA, NC, TX, and ARI.

Steve Bannon says Trump could get 40% to 50% of the Latino vote. Legal and voting Hispanics recognise all the jobs available to them after illegal invasion slowly stopped and eventually shut down.

They benefit the most. Coming back to the Cesar Chavez views of wet backs after all the hurt the last two decades.

Energy Transfer Products has NGL’S and refined product pipelines throughout the rust belt. Shell will be filling their pipes to the Atlantic Coast for processing and export.

Here in North Dakota most of our oil uses their DAPL (Dakota Access Pipe Line) to transport the bulk of the oil to TX. At 570,000 barrels a day it will soon be doubled by squirting the oil under higher pressure with 3 high horsepower pumps. 1.1 million bbl/day with no extra pipeline construction.

Some of ETP’s 2nd Qtr conf call transcript as it applies to ND and the Marcellus.

On DAPL:

If you look at the opportunities and the need to provide capacity up there, nobody compares to DAPL. And the beautiful thing about DAPL is that all we have to do is add pumps to move materially more volumes. We’ve already secured volumes to move forward on an optimization project. However, as everybody knows we’re in the middle of an open season, we’re very optimistic how that open season will go. And we will add pumps and other needed facilities to meet the contractual obligations that we’ll have at the at the end of the open season, but couldn’t be better timing.

Financial:

Our adjusted EBITDA hit another record for the second quarter of 2019, coming in at $2.82 billion. This was up 25% compared to the second quarter of last year. DCF attributable to the partners of ET as adjusted also increased almost 25%. We continue to see very strong performances in all of our major businesses and very high utilization across all of our assets.

The NGL and refined product segments delivered another record quarter as a result of the ramp up of ME2 and record frack volumes that were driven by Frac VI coming online earlier than planned and filling up almost immediately. Pricing differentials between markets have also continued to remain strong for much of 2019, driving outperformance in our optimization businesses.

Distribution coverage for the quarter was two times which resulted in excess cash flow after distributions of $800 million for the quarter. In addition, since the end of the quarter, we successfully brought on Arrowhead III processing plant online ahead of schedule. And the second phase of our Red Bluff Express pipeline is now operationally complete. We’re also pleased to say that at the end of July, we loaded our first barge at Nederland with natural gasoline.

As a result of this strong performance and the completion of several key growth initiatives. For 2019, we are revising our adjusted EBITDA guidance higher. We are all lowering our full year CapEx guidance. We expect our 2019 adjusted EBITDA to be approximately $10.8 billion to $11 billion, which is up $200 million from our previous guidance range.

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