Just two days after China announced a proposed 25% tariff on LNG in response to Trump's new tariff "policies," NextDecade, the parent company of Rio Grande Valley LNG, to be located at the Port of Brownsville, announced a sell off of $50,000,000 in stock to a Korean firm, HGC NEXT INV, LLC.
NextDecade is located in The Woodlands, Texas.
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So what?
ReplyDeleteSo what? Trump got the EU to stop importing LNG from Russia and to import it from the US. It is a zero sum game. Companies sell shares to raise revenue for expansion. This is why stocks exist. They are raising revenue to expand their business. Do you not understand basic stock ownership. Musk has announced a sell to raise revenue. It is for expansion.
ReplyDeleteYour take is accurate. Didn't I just report the sale or did you see some invisible commentary no one else noticed?
DeleteReally Jim, invisible commentary? No. You said it. After China announced. "PARENT COMPANY OF RIO GRANDE LNG SELLS OFF $50,000,000 IN STOCK AFTER CHINA ANNOUNCEMENT" You made it sound like they are selling because they are going to lose business when just the opposite is true with the EU now ready to import US LNG. Why raise the China question if there was no message in it?
DeleteJim does not understand this. That's obvious.
DeleteYour points are logical and valid.
DeleteUS President Donald Trump expects the European Union to fund 9 to 11 liquefied natural gas (LNG) ports to absorb “vastly” more shipments from the United States but current EU investment in new projects will only help open small markets.
ReplyDeleteIn a White House press conference with Italian Prime Minister Giuseppe Conte late on Monday, Trump said part of the US-EU trade talks sought to expand America’s reach into the continent’s gas markets which were awash with Russian supply.
“And we are already talking to the European Union about building anywhere from 9 to 11 ports, which they will pay for, so that we can ship our LNG over to various parts of Europe,” Trump said.
Didn't he also say Mexico was going to build a wall for us too?
This is the same guy who called the EU a "foe" and dove headfirst into a trade war with them. The EU countries have all signed the Paris Agreement to limit carbon emissions, some of their countries are phasing out gasoline cars entirely in the next few decades.
Jim's article had it right, with China throwing up huge 25% tariffs on LNG the EU isn't going to come in and save the day. It was a scare selloff looks like NextDecade is trying to dump the stock and make it Korea's problem now.