• “U.S.-China trade hopes lift world stocks, oil soars” (Reuters)
• “White House to Roll Out Bill to Expand Trump’s Tariff Powers, Sources Say” (Bloomberg, subscription)
• “Trump pleads on TV for wall money; Dems say he stokes ‘fear’” (AP)

Jobs, Jobs Everywhere

The U.S. economy didn’t have as many unfilled jobs in November as in previous months, according to the latest Labor Department numbers, but it still had more jobs than Americans looking for work. From The Wall Street Journal (subscription):

• “The number of unfilled jobs in the U.S. fell in November to the lowest level since June, though openings still exceeded unemployed Americans.”
• “There were a seasonally adjusted 6.89 million job openings on the last business day of November, the Labor Department said Tuesday. That was down from a revised 7.13 million at the end of October.”
• “Openings remain near a historical peak, but have edged lower since touching a record high of 7.29 million in August.”
• “In November, openings exceeded the unemployed—people without a job but actively seeking work—by 870,000. Before March of this year, job openings had never exceeded unemployed workers in more than 17 years of monthly records.”

As manufacturers know, the workforce crisis is a long-term problem for the industry. The number of unfilled manufacturing jobs requiring skilled labor will rise to 2.4 million within a decade, according to a recent report by The Manufacturing Institute, the NAM’s social-impact and workforce arm, and Deloitte.

Last year, The Manufacturing Institute increased its efforts to counter this challenge, starting new programs and achieving record-breaking engagement levels. Read more about it here.

Third Day’s the Charm?

The trade talks between China and the U.S. in Beijing have ended after their extension to a third day, with officials saying that details are coming soon. What we know so far, from Reuters:

• “The extra day of talks came amid signs of progress on issues including purchases of U.S. farm and energy commodities and increased access to China’s markets.”
• “However, people familiar with the negotiations told Reuters on Tuesday that the two sides were further apart on Chinese structural reforms that the Trump administration is demanding in order to stop alleged theft and forced transfer of U.S. technology, and on how Beijing will be held to its promises.”
• “China is keen to put an end to its trade dispute with the United States but will not make any ‘unreasonable concessions’ and any agreement must involve compromise on both sides, state newspaper the China Daily said on Wednesday.”
• “In what is widely seen as a goodwill gesture, China on Tuesday issued long-awaited approvals for the import of five genetically modified crops, which could boost its purchases of U.S. grains as farmers decide which crops to plant in the spring.”

Worth noting: Apple CEO Tim Cook is upbeat about the talks, telling CNBC yesterday that he is “very optimistic.”

Offshore Drilling Takes Off

Offshore drilling has an optimistic future, according to E&E News (subscription):

• “Worldwide offshore drilling is staging a comeback in 2019, with Asia’s shipyards poised to benefit.”
• “[Analysts] see brighter days ahead, after many false starts and even with the lower crude oil prices.”
• “Offshore drilling contractor watchers point to a successful consolidation of the industry, rising offshore project sanctions by oil and gas majors, and an ongoing churning of the fleet as newer, higher-spec equipment steadily replaces older rusting rigs.”
• “‘The acceleration is really starting to take shape,’ said Liz Tysall, senior rig analyst at Rystad Energy. ‘I think within the next 12 to 18 months, the industry is going to look a lot different than it does today as far as the landscape of who is a drilling contractor and who’s not a drilling contractor.’”

Relatedly, BP just made a huge discovery in the Gulf of Mexico, according to CNBC:

• “The British energy company has discovered 1 billion barrels of oil at an existing oilfield in the Gulf of Mexico. BP also announced two new offshore oil discoveries and a major new investment in a nearby field.”

Plus, Bloomberg Government reports on Shell’s outlook on the Gulf of Mexico (subscription):

• “‘Gulf of Mexico production is really our cash engine now and well into the future,’ Gretchen Watkins, president of Royal Dutch Shell’s U.S. unit, [said] in a panel of oil and natural gas executives at an API event in Washington, D.C.”

Nuclear Advancements

The Energy Department is planning to help the nuclear industry produce more energy-dense fuels for next-generation reactors, reports The Wall Street Journal (subscription):

• “Worried the U.S. may be falling behind rivals in nuclear-power technology, the Energy Department plans to spend $115 million to help develop advanced fuels for next-generation reactors.”
• “Under a three-year pilot project announced Monday, the money would go to an Ohio company to produce a more energy-dense uranium, which the nuclear industry has been asking for to support a budding industry of smaller reactors.”
• “Department officials say they plan to award the contract to American Centrifuge Operating, a unit of Centrus Energy Corp., unless rival companies can make a compelling case by Jan. 22. Shares of Centrus were up roughly 20% in early-afternoon trading.”
• “The Energy Department wants the new capacity to be ready by October 2020.”

As NAM Senior Director of Energy and Resources Policy Rachel Jones wrote in response:

• “Our nuclear energy—the largest source of non-emitting energy in the United States—helps ensure reliable and affordable electricity as part of a diversity of fuel sources.”
• “As the demand for electricity in the U.S. continues to grow, the NAM supports the construction of safe nuclear power plants to maintain a diverse portfolio of generating resources.”
• “The NAM also supports advanced nuclear technology for use in manufacturing as a source of carbon-free process heat.”

• “Boeing delivers record 806 aircraft in 2018” (Reuters)
• “Union Pacific jumps 8 percent after company picks turnaround expert as COO” (Reuters)
• “Daimler Offers Self-Driving Big Rigs as Tesla Plots Debut” (Bloomberg, via IndustryWeek)
• “Houston area frac sand company [U.S. Silica] buys ceramics plant in Georgia” (Houston Chronicle, subscription)

• Read NAM Director of Energy and Resources Policy Laura Berkey-Ames on reauthorization legislation for the Chemical Facility Anti-Terrorism Standards (CFATS) program, which has just passed the House.
• Chief Executive cites the NAM’s quarterly outlook survey.
• Welcome to those of you joining the NAM for its Council of Manufacturing Associations meeting in Baltimore, Maryland! Stay tuned for the announcement of the CMA board chair this week.