Rep. Donald McEachin (D-VA): The Trump Administration is "Tone Deaf" on Offshore Drilling
The Department of the Interior announced plans to expand offshore drilling, upsetting environmentalists and members of Congress alike. Congressman Donald McEachin, a democrat representing Virginia's fourth district, serves on the Natural Resources Committee. He believes the move shows the Trump Administration is "tone deaf" on the issue of offshore drilling.
Congressman McEachin says protecting the "We don't want any environmental issue, really, to fall down between Democrats and Republicans," the Congressman said.
The Congressman has also co-sponsored the Military Spouse Employment Act. If passed, the bill will provided resources for military spouses struggling to find jobs as their loved ones serve in the military.
John Quelch, Dean of Miami Herbert Business School, joins Cheddar News' Closing Bell, where he says the retail giant is acting in accordance to President Biden's new law banning goods from China's Xinjiang region. Quelch also elaborates on the importance of China in Walmart's overall strategy.
Cheddar's Chloe Aiello has our cannabis year-in-review, breaking down how several states legalized adult recreational use and greenlit medicinal use in 2021. She noted that while a cannabis legalization and decriminalization bill was introduced in Congress this year, potential FDA involvement in the industry, as well as a 25 percent excise tax, killed any chance the bill had of moving forward. Aiello also speculated that some form of cannabis reform could be rolled out in 2022, as the midterm elections draw closer.
Jim Worden, Chief Investment Officer at Wealth Consulting Group, joins Cheddar News' Closing Bell, where he says the period between Christmas and New Year's is difficult to predict due to a lack of institutional volume, with the Omicron variant adding even more uncertainty on Wall Street.
Prices at the pump this year reached a seven-year high, and a new forecast from GasBuddy shared with CNN predicts that gas prices will only continue to rise in 2022 and that the national average could even reach $4.00 a gallon; however, analysts at GasBuddy say anything could happen when it comes to gas prices in the future, as the pandemic has made it difficult to make any predictions about the economy. Consumer Energy Alliance federal policy advisor Michael Zehr joins Cheddar News' Closing Bell to discuss.
