Trump gives hope to businesses
Published 12:23 am Sunday, November 13, 2016
Business people in our community — even those who did not support his candidacy — hope president-elect Donald Trump puts his action where his mouth has been.
After approximately two years of decline, the regional oil industry, in particular, is hopeful Trump’s policies improve the situation for oil and gas producers.
If the new administration made even modest improvements for the domestic oil trade, the impact on our community could be tremendous.
When the bottom fell out of the oil price a couple of years ago, our area lost literally hundreds and hundreds of jobs.
Prior to that the area economy was beginning to boom, fueled by high commodity prices and the large reserves to our south in the Tuscaloosa marine shale discovery.
The boom came on quick and died even faster when the pricing tanked. That was due, in part, to changes in policy and regulation of the federal government. Presumably, reversing those changes may have a similar reversal in economic impact, which could pump hundreds of jobs back into the area.
Trump has also promised sweeping changes of the controversial Affordable Care Act. Exactly what Trump would do to the act and how he might replace it is anyone’s guess at the moment.
For now, we think it’s wise for everyone to focus on the possibilities the new administration may bring to the country. If the business community’s enthusiasm is well placed, the area will be booming again in no time.