Harold Hamm, Chairman of the American Leadership Council and the CEO of Last July Continental Resources reveals the true amount of growth the country has seen under President Trump’s leadership – and predicts that growth could reach 4% by the end of the year.
What is triggering this strong growth, and why does it matter so much for the economy, for jobs, and the American people? Hamm’s unique insight into why Trump is pushing the economy towards growth and savvy analysis reveals why the numbers look so good, so soon.
Rallies Start Early
As early as the Cleveland Republican National Convention, Hamm noticed that the market had begun to rally, simply because it was reacting to the possibility of pro-business Donald Trump winning the presidency. Dubbed the “Trump Rally”, the economy woke up and began to move forward with just the possibility of Trump’s electoral victory. Growth had stagnated under the last years of Obama, sticking at 1.6 percent, but the rally helped it regain momentum.
According to Hamm, a pro-business, pro-growth president is the reason for the accelerated and unprecedented growth. Former President Obama was almost an obstructionist, hindering business and the creation of jobs with almost every move.
“He (Trump) replaced a president, who I can say from first-hand experience and as one of the largest employers in the state of North Dakota was most often a hindrance, not a help to American job creators,” Hamm told CNBC. “I believed then — and it is has proven to be true — there was a large amount of pent-up potential for growth in America that could be realized. We are seeing that play out.”
Trump Energy Policy Leads the Way
The Trump effect is evident everywhere, but energy is the star of the show when it comes to growth. Analysts have referred to the Trump era as “An American Energy Renaissance” and point to the president’s vigorous pursuit of oil, natural gas and coal from America as sources of great potential and growth.
President Trump’s intense focus on American energy dominance could continue to propel the country forward in the years to come, and is predicative of strong continued growth.
Both drilling and mining jobs are on the rise, and at least 60,000 jobs have been created within the minerals and energy industry alone in the last 8 months. An increased interest in horizontal drilling has led America to access more than 100 years’ worth of natural gas, and 5 times that amount of coal. We may become independent when it comes to energy needs in just a few short years, according to Hamm.
Even natural gas, the least expensive and most easily accessed fuel in the world, is now able to be exported to other nations. Starting in June, the Trump administration approved the export of natural gas shipments to Poland and the Netherlands. Poland had been relying on Russian suppliers for energy; they now have more possibilities for energy and can buy what they need from the United States. Natural gas exports are expected to grow to reach even more nations as President Trump’s time in office continues.
Moving Beyond Energy
According to Hamm, President Trump’s goal of freeing up acreage to develop energy could raise as much as $50 trillion over time. Former President Obama removed these lands from play; President Trump will restore them, resulting in more domestic energy and less reliance on the Middle East.
The attention on promoting and restoring US energy production benefits other industries as well, according to Hamm. Manufacturing is beginning to make a comeback; steel producers, auto manufacturers and even technology brands are benefiting from the lower cost of fuel and ramping up production to meet new demands.
Tax reforms are in the works right now; a level playing field for businesses will help the American people reach the 4% mark for growth by 2018, predicts Hamm. By offering reforms and incentives for those who create jobs and growth, those lofty goals can be realized, not years from now, but in the very near future.
~ Liberty Planet