Exclusive: Iran charts active plans for fighting “Trump’s economic war”

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Tehran is deep in hectic discussions on ways to fight crippling US sanctions – whether by terror or fast-tracked nuclear development, DEBKAfile’s exclusive military and intelligence sources reveal. Continue reading

Saudis take 100% control of America’s largest oil refinery

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America’s largest oil refinery is now fully owned by Saudi Arabia.

Saudi Aramco, the kingdom’s state-owned oil behemoth, took 100% control of the sprawling Port Arthur refinery in Texas on Monday, completing a deal that was first announced last year. Continue reading

The US ‘manufacturing renaissance’ doesn’t exist, says new report

Despite all the much-heralded talk of the rebirth of manufacturing, a new report suggests that the trend may be vastly overstated

Have we been letting a good story get in the way of the facts?

The “manufacturing renaissance” has been the central point in the return of America’s industrial power. It even has its own national council.

Yet here are the facts: the United States may have added only about one new manufacturing job in the last few years for every five that were lost during the financial crisis and the recession that followed.

That’s according to a new report from the Information Technology & Innovation Foundation, a non-partisan and non-profit think tank based in Washington, DC. The report was released early this morning.

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