Congressman John Garamendi (D-Calif. 3rd District) has a plan that he says will boost the economy and help secure the nation's shores: shipbuilding. Garamendi said the construction of more maritime vessels in America will put the U.S. ahead both economically and with national security.
"We need to have a domestic shipbuilding fleet, and we can do that by using the export of natural gas and oil and require that a small percentage of that export be on American-built ships," Garamendi told Cheddar.
The congressman acknowledges that investing in ships that will use and transport fossil fuels appears to run counter to climate change efforts, but said, "We know for a fact that we're going to be having an oil economy and a natural gas economy for some time into the future." He argued that in the time it takes for America to transition to more renewable energies his plan would not only offer homeland protection but also add jobs domestically.
"If we move to solve the climate crisis, we will create millions of new jobs in America, and if we couple that with shipbuilding and with infrastructure, this economy will boom in the years ahead," he added.
As the U.S. remains in economic crisis amid the coronavirus pandemic, stimulus talks in Congress have continued to stall, and more than 12 million people remain jobless, Garamendi said his plan would provide some relief.
"For every regard, this is a huge jobs program — some 2,000 mariners on those ships that would be exporting oil, as well as the shipyards, which will probably be several thousand jobs in the shipyards," he said.
It's Women's History Month and Tuesday marks Equal Pay Day. To honor the occasion, Laura Gassner Otting, author of Limitless: How to Ignore Everybody, Carve Your Own Path, and Live Your Best Life, spoke with Cheddar News' correspondent Shannon LaNier about how to properly value yourself and get the pay you deserve, regardless of your gender.
Southwest Airlines Co. on Tuesday outlined a plan to strengthen its operational resilience after a winter storm late last year led to widespread cancellations and delays.
Novo Nordisk has announced that it's cutting the price of pre-filled insulin pens and vials by up 75 percent for people living with diabetes starting in January 2024.
Abhay Parasnis, the CEO and founder of Typeface, addressed the company's exposure to the collapse of Silicon Valley Bank. fo
Stocks are leaping on Wall Street Tuesday, as some of the most breathtaking moves from a manic Monday reverse course.
Facebook parent Meta is slashing another 10,000 jobs and will not fill 5,000 open positions as the social media pioneer cuts costs.
The latest consumer price index (CPI) shows prices rising 0.4 percent month-over-month in February, down from 0.5 percent in January, while the annual inflation is up 6 percent, down from 6.4 percent.
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A winter storm dumped heavy, wet snow in parts of the Northeast on Tuesday, causing tens of thousands of power outages, widespread school closings, dangerous road conditions and a plane to slide off a taxiway.
Silicon Valley Bank’s collapse rattled the technology industry that had been the bank's backbone, leaving shell-shocked entrepreneurs thankful for the government reprieve that saved their money while they mourned the loss of a place that served as a chummy club of innovation.
